M&T Bank Corporation
- Open
- 236.90
- Day high
- 237.24
- Day low
- 233.02
- Prev close
- 237.29
- Volume
- 1.7M
- Mkt cap
- $33.8B
- P/E (TTM)
- 12.3
- EPS (TTM)
- $18.96
- P/B
- 1.2
- P/S
- 2.7
- Yield
- 2.56%
- Per share
- $6.00
- ▼Insiders net selling -$7.3M over the last 3 months (0 open-market buys, 10 sales)
- 🏛Institutions mixed (13F)
M&T Bank Corporation (MTB) is a Financial Services company listed on NYSE. The stock is up 18% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 10 sales (SEC Form 4).
M&T Bank Corporation (MTB) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 12 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MTB earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 15, 2026 | $4.67 | $5.35 | +14.6% | $2.5B | +2.7% |
| Apr 15, 2026 | $4.01 | $4.18 | +4.1% | $2.4B | +0.5% |
| Jan 16, 2026 | $4.48 | $4.72 | +5.4% | $2.5B | +0.1% |
| Oct 16, 2025 | $4.43 | $4.87 | +10.0% | $2.5B | +3.1% |
| Jul 16, 2025 | $3.98 | $4.28 | +7.5% | $2.4B | +0.6% |
| Apr 14, 2025 | $3.41 | $3.38 | -0.8% | $2.3B | -1.2% |
| Jan 16, 2025 | $3.72 | $3.92 | +5.3% | $2.4B | +1.3% |
| Oct 17, 2024 | $3.63 | $4.02 | +10.6% | $2.3B | +1.0% |
| Jul 18, 2024 | $3.54 | $3.73 | +5.5% | $2.3B | +0.2% |
| Apr 15, 2024 | $3.11 | $3.86 | +24.0% | $2.2B | -2.3% |
| Jan 18, 2024 | $3.71 | $2.81 | -24.3% | $2.3B | -2.4% |
| Oct 18, 2023 | $3.94 | $3.98 | +0.9% | $2.3B | -2.1% |
MTB insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 25, 2026 | Seseri Rudinadirector | Sell | 623 | $241.04 |
| Aug 19, 2026 | Taylor John R.officer: EVP and Controller | Sell | 1,217 | $253.84 |
| Aug 7, 2026 | WALTERS KIRK Wdirector | Sell | 9 | $253.77 |
| Aug 5, 2026 | Jacobs Jeremy M Jrdirector | Grant | 589 | — |
| Aug 4, 2026 | Bible Daryl N.officer: Sr. EVP & CFO | Tax | 3,043 | $246.29 |
| Aug 4, 2026 | Ledgett Richard H. Jr.director | Sell | 855 | $248.16 |
| Jul 16, 2026 | PEARSON KEVIN Jofficer: Vice Chairman | Sell | 2,000 | $242.00 |
| Jul 6, 2026 | Woodrow Tracy S.officer: Sr. Executive Vice President | Sell | 881 | $242.00 |
| Jul 6, 2026 | Woodrow Tracy S.officer: Sr. Executive Vice President | Option | 505 | $164.54 |
| Jul 6, 2026 | Woodrow Tracy S.officer: Sr. Executive Vice President | Option | 376 | $190.78 |
| Jun 17, 2026 | Taylor John R.officer: EVP and Controller | Sell | 1,098 | $233.23 |
| Jun 17, 2026 | Taylor John R.officer: EVP and Controller | Option | 269 | $190.78 |
| Jun 11, 2026 | PEARSON KEVIN Jofficer: Vice Chairman | Option | 13,296 | $164.54 |
| Jun 11, 2026 | PEARSON KEVIN Jofficer: Vice Chairman | Option | 10,062 | $190.78 |
| Jun 11, 2026 | PEARSON KEVIN Jofficer: Vice Chairman | Sell | 18,722 | $225.20 |
Source: MTB SEC Form 4 filings, latest Aug 25, 2026. For informational purposes only — not investment advice.
See the full MTB insider & 13F page →M&T Bank Corporation company profile
Overview
M&T Bank Corporation (NYSE:MTB) is a regional bank holding company founded in 1856 and headquartered in Buffalo, New York. The company has grown significantly through organic expansion and strategic acquisitions, most notably completing the acquisition of People's United Financial in 2022, which expanded its footprint across the Northeast and Mid-Atlantic regions. Today, M&T Bank operates as one of the largest regional banks in the United States, serving customers through approximately 688 banking offices across New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia, plus a commercial banking office in Ontario, Canada.
Business
M&T Bank operates in the regional banking industry, providing a comprehensive range of commercial and retail banking services to individuals, small businesses, and large corporations. The banking industry serves as a financial intermediary, taking deposits from customers and lending those funds to borrowers while earning a spread on the interest rates. The company operates through six primary business segments: **Business Banking** generates approximately 15-20% of revenue by offering deposit accounts, commercial lending, cash management, and financial services specifically tailored to small businesses and professionals. This segment focuses on companies with annual revenues typically under $10 million. **Commercial Banking** represents roughly 25-30% of revenue, serving middle-market and large commercial customers with deposit products, commercial lending and leasing arrangements, letters of credit, and sophisticated cash management services. These clients typically have annual revenues ranging from $10 million to several billion dollars. **Commercial Real Estate** accounts for about 15-20% of revenue through originating, selling, and servicing commercial real estate loans while also providing deposit services to real estate developers, investors, and property management companies. This segment has been strategically reduced from representing over 30% of the loan portfolio to approximately 25% as of 2024. **Retail Banking** comprises the largest segment at approximately 30-35% of revenue, offering traditional consumer banking services including checking and savings accounts, consumer installment loans, automobile financing, home equity products, credit cards, and investment products like mutual funds and annuities to individual consumers and families. **Residential Mortgage Banking** generates about 5-10% of revenue by originating residential real estate loans for consumers, selling many of these loans in the secondary market to government-sponsored enterprises, and purchasing servicing rights from other lenders. **Discretionary Portfolio** represents the remaining 5-10% and includes the bank's investment securities, certain residential real estate loans, foreign exchange services, and the management of the bank's funding and liquidity position.
Revenue model
M&T Bank generates revenue primarily through **net interest income**, which accounts for approximately 70-75% of total revenue. This represents the difference between interest earned on loans and investments and interest paid on deposits and borrowed funds. The bank borrows money from depositors at relatively low interest rates and lends it out at higher rates to borrowers, capturing the spread as profit. **Non-interest income** comprises the remaining 25-30% of revenue and includes fees from deposit services, wealth management and trust services, mortgage banking activities, credit card fees, foreign exchange services, and investment management. These fee-based revenues provide important diversification from interest rate fluctuations. The bank's customers include individual consumers seeking personal banking services, small businesses requiring commercial banking solutions, middle-market companies needing sophisticated financial services, real estate developers and investors, and high-net-worth individuals utilizing wealth management services. Several factors significantly impact M&T Bank's profitability margins. **Interest rate environment** is the most critical factor - rising rates generally benefit the bank's net interest margin as loan rates typically adjust faster than deposit costs, while falling rates compress margins. **Credit quality** directly affects profitability through loan loss provisions, with economic downturns potentially requiring higher reserves for bad debts. **Deposit competition** influences funding costs, as intense competition for deposits can force the bank to pay higher rates to retain customers. **Regulatory requirements** impact capital allocation and operational costs, while **loan demand** from creditworthy borrowers affects the bank's ability to deploy capital profitably. The bank's significant **commercial real estate exposure** makes it particularly sensitive to property market cycles and interest rate changes affecting real estate values and borrower cash flows.
Competitive moat
M&T Bank possesses a **moderate moat** primarily built on geographic market position, customer relationships, and regulatory barriers, though this moat faces meaningful challenges in the evolving banking landscape. The bank's strongest competitive advantage lies in its **dominant market presence** across key Northeast and Mid-Atlantic markets, where it holds significant deposit market share and has built deep community relationships over decades. This local market knowledge and established customer base create switching costs for both retail and commercial clients who value relationship banking over purely transactional services. **Regulatory barriers to entry** provide some protection, as starting a new bank requires substantial capital, regulatory approval, and years to build scale and customer trust. The complexity of banking regulations also creates advantages for established players with existing compliance infrastructure. However, M&T Bank's moat faces several significant challenges. **Digital disruption** from fintech companies and online banks threatens traditional relationship banking, particularly among younger customers who prioritize convenience over personal relationships. **Interest rate sensitivity** makes the bank vulnerable to margin compression during rate cycles, unlike businesses with more predictable pricing power. **Credit risk concentration** in commercial real estate and regional economic exposure limit the bank's defensive characteristics compared to more diversified national banks. The banking industry's **commodity-like nature** means that deposit and loan products are largely undifferentiated, making customer retention dependent primarily on convenience, service quality, and pricing rather than unique value propositions. Large national banks with greater scale advantages and technology investment capabilities pose ongoing competitive threats, while regulatory capital requirements limit M&T's flexibility compared to non-bank financial services providers. Overall, M&T Bank maintains a reasonable competitive position within its regional markets, but lacks the strong, durable moat characteristics found in businesses with more unique products or services.
Risks & safety
M&T Bank demonstrates **solid financial stability** with adequate capital buffers and strong liquidity, though typical banking sector risks remain present. **Capital and Solvency:** - Common Equity Tier 1 (CET1) ratio of 11.67% provides comfortable buffer above regulatory minimums - Total assets of $208 billion with shareholders' equity of $29 billion - Debt-to-equity ratio of 0.47, reasonable for banking operations - No immediate solvency concerns given strong capital ratios **Liquidity Position:** - Cash and short-term investments of $20.8 billion provide substantial liquidity buffer - Strong deposit base of approximately $164-166 billion provides stable funding - Access to Federal Reserve discount window and other funding sources - Current ratio appears low at 0.22, but this is normal for banks due to deposit classification **Valuation Metrics:** - Price-to-earnings ratio of 12.1x appears reasonable for regional bank - Price-to-book ratio of 1.08x suggests modest premium to book value - Return on equity of 8.9% indicates solid profitability levels **Credit Quality Considerations:** - Net charge-offs running around 35-40 basis points, manageable levels - Commercial real estate concentration being actively reduced from 30% to 25% of loans - Criticized loans showing improvement with active management
Recent development
Over the past few years, M&T Bank has executed several key strategic initiatives focused on portfolio optimization, market expansion, and operational efficiency. The most significant development was the **completion of the People's United Financial acquisition in 2022**, which substantially expanded M&T's geographic footprint into New England and Long Island markets, adding approximately $63 billion in assets and significantly increasing the bank's scale and market presence. **Commercial real estate portfolio reduction** has been a primary focus, with management actively working to decrease CRE concentration from over 30% of total loans to approximately 25% by 2024. This strategy involves encouraging client refinancing with other institutions, utilizing agency placements, and being selective about new CRE originations while maintaining relationships with existing clients. The bank has prioritized **four key strategic initiatives for 2025**: growing market share in New England and Long Island markets acquired through People's United, optimizing resources through operational simplification, making technology systems more resilient and scalable, and continuing to develop enhanced risk management capabilities. **Capital management strategy** has evolved with the bank restarting its share repurchase program in 2024, buying back $200 million per quarter while maintaining a target CET1 ratio of approximately 11%. Management has indicated potential for more aggressive capital returns if loan growth remains modest and economic conditions stabilize. **Technology and digital banking investments** have been ongoing, with M&T achieving the highest customer satisfaction ratings for mobile banking apps among regional banks. The bank continues investing in system modernization and scalability to compete more effectively with digital-first competitors. **Fee income diversification** efforts include growing wealth management and trust services, expanding specialty lending areas like fund banking, and optimizing mortgage banking operations to capture opportunities in changing interest rate environments.
MTB company profile · for informational purposes only — not investment advice.
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