M&T Bank (MTB)

Financials · $31.6B market cap · SEC CIK 0000036270

Next reports on Jan 19, 2027, after the close, with analysts expecting $5.04 in earnings per share.

52-week range $179.75 to $255.95. 14% below its 52-week high and 23% above its low.

The case for MTB

• Cheap for its growth: 10.5× earnings, where 10% a year of growth plus a 4.1% dividend would justify about 29×.
• 31% of revenue drops through to net profit.
• Pays a 4.1% dividend while you wait.
• Trades at 1.11× book value, close to what the balance sheet says it owns.
• Moves less than the market (beta 0.66).

The case against

• Weakest against its peers: return on equity of 11% is lower than 77% of Financials companies.
• Its weakest area is the price trend (51/100): +19.8% over a year, −11.3% over three months, 14% below its 52-week high.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Its one-year revenue change (+86%) is far out of line with its five-year trend (+8% a year). In the Financials sector that is usually interest income swinging with rates rather than growth, so only the five-year figure is used.
• Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
• Each factor except momentum is half fixed thresholds, half rank among the 76 Financials companies.

The financials

The financials, five years deep

Pulled from M&T Bank's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What M&T Bank says it does

M&T is a New York business corporation that has elected to be treated as an FHC under the BHCA and is a BHC under Article III-A of the New York Banking Law. M&T was incorporated in November 1969. At December 31, 2025, M&T had two wholly-owned bank subsidiaries: M&T Bank and Wilmington Trust, N.A. The banks collectively offer a wide range of retail and commercial banking, wealth management, trust and institutional services to their customers. The Company had consolidated total assets of $213.5 billion, deposits of $166.9 billion and shareholders’ equity of $29.2 billion at December 31, 2025. The principal executive offices of M&T and M&T Bank are located in Buffalo, New York. M&T Bank is a banking corporation that is incorporated under the laws of the State of New York. M&T Bank is a member of the Federal Reserve System and the FHLB System, and its deposits are insured by the FDIC through its DIF up to applicable limits. M&T acquired…

Risk factors MTB lists in its 10-K

• Weakness in the economy, or fluctuations in market factors, has adversely affected the Company in the past and may adversely affect the Company in the future
• The Company is routinely subject to examinations from various governmental taxing authorities that may result in challenges to the Company’s tax return treatment
• The Company’s business and performance is vulnerable to the impact of volatility in debt and equity markets
• The Company’s regional concentrations expose it to adverse economic conditions in its primary retail banking office footprint
• The Company is subject to extensive government regulation and supervision and this regulatory environment can be and has been significantly impacted by financial regulatory reform initiatives
• The Company may be subject to more stringent capital and liquidity requirements
• If an orderly liquidation of a systemically important BHC or non-bank financial company were triggered, M&T could face assessments for the OLF
• Deteriorating credit quality could adversely impact the Company
• The Company may be adversely affected by the soundness of other financial institutions
• The Company must maintain adequate sources of funding and liquidity
• If the Company is unable to maintain or grow its deposits, it may be subject to paying higher funding costs
• M&T relies on dividends from its subsidiaries for its liquidity
• The financial services industry is highly competitive and creates competitive pressures that could adversely affect the Company’s revenue and profitability
• Difficulties in obtaining regulatory approval for acquisitions and in combining the operations of acquired entities with the Company’s own operations may prevent M&T from achieving expected benefits from acquisitions
• The Company could suffer if it fails to attract and retain skilled personnel
• The Company is subject to operational risk which could adversely affect the Company’s business and reputation and create material legal and financial exposure
• The Company’s information systems may experience interruptions or breaches in security, such as cyber attacks, including due to events beyond the Company’s control
• The Company could incur higher costs, experience lower revenue, and suffer reputational damage in the event of the theft, loss or misuse of information, including due to a cyber attack
• M&T relies on other companies to provide key components of the Company’s business infrastructure
• The development and use of AI, including by third parties, presents risks and challenges that may adversely impact M&T
• The Company’s reported financial condition and results of operations depend on management’s selection of accounting methods and require management to make estimates about matters that are uncertain
• The Company’s models used for business planning purposes could perform poorly or provide inadequate information
• The Company's reputation may be harmed, which could negatively impact investor and customer confidence
• The Company’s framework for managing risks may not be effective
• Pandemics, acts of war or terrorism and other adverse external events could significantly impact the Company’s business
• The Company’s assets, communities, operations, reputation and customers could be adversely affected by the impacts of climate-related risk

Filings

Other Financials companies