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Updated: Aug 17, 2026
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M&T Bank

NYSE:MTB·Stock Analysis Report
Day Range
$244.31 - $251.83
Market Cap
36.52B
P/E Ratio
13.4510
Avg Value
$215.35
Year Range
$174.75 - $255.95
$244.55-$6.95 (-2.76%)
1
General Information
M&T Bank is a US regional bank with around $215 billion in assets as of the end of the first quarter of 2026.

Headquartered in Buffalo, New York, the bank's footprint is mostly concentrated in New England and the US Mid-Atlantic. M&T Bank boasts a community banking approach, and boasts over 900 branches in 13 states and Washington, D.C. Apart from retail and commercial banking, M&T Bank also has wealth management operations through Wilmington Trust and a partnership with LPL Financial, and a corporate trust business.

2
M&T Bank (MTB) Stock Graph
3
How We Grade M&T Bank (MTB)

We grade stocks based on past performance, their future growth potential, intrinsic value, dividend history, and overall financial health.

The chart below shows how we grade M&T Bank (MTB) across the board compared to its closest peers.

4
Benzinga Edge Rankings

Benzinga Edge stock rankings give you four critical scores to help you identify the strongest and weakest stocks to buy and sell.

55.84

Growth measures a stock's combined historical expansion in earnings and revenue across multiple time periods, with emphasis on both long-term trends and recent performance.

Momentum measures a stock's relative strength based on its price movement patterns and volatility over multiple timeframes, ranked as a percentile against other stocks.

40.25

Quality is a composite ranking that evaluates a company's operational efficiency and financial health by analyzing historical profitability metrics and fundamental strength indicators on a percentile basis relative to peers.

Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
5
Future Growth
Our estimate of future price growth is based on an aggregation of 16 analyst ratings over the past 3 months and their 12-month price targets.

Below, you can see that analysts are estimating a 12-month price target range of $215.00 - $268.00 with an average of $250.53

-0.92%
Expected movement for M&T Bank (MTB) over the next 12 months
Based on these rankings

Recent Ratings for M&T Bank (MTB)

UBS
Date:
Aug 3, 2026
Action:
Maintains
Prev. Target:
$252.00
New Target:
$255.00
JP Morgan
Date:
Jul 29, 2026
Action:
Maintains
Prev. Target:
$251.50
New Target:
$265.50
Truist Securities
Date:
Jul 21, 2026
Action:
Maintains
Prev. Target:
$230.00
New Target:
$268.00
DA Davidson
Date:
Jul 16, 2026
Action:
Maintains
Prev. Target:
$263.00
New Target:
$266.00
RBC Capital
Date:
Jul 16, 2026
Action:
Maintains
Prev. Target:
$230.00
New Target:
$255.00
Wells Fargo
Date:
Jul 16, 2026
Action:
Maintains
Prev. Target:
$215.00
New Target:
$224.00
Keefe, Bruyette & Woods
Date:
Jul 16, 2026
Action:
Maintains
Prev. Target:
$242.00
New Target:
$250.00
Barclays
Date:
Jul 16, 2026
Action:
Maintains
Prev. Target:
$236.00
New Target:
$267.00
Baird
Date:
Jul 16, 2026
Action:
Maintains
Prev. Target:
$240.00
New Target:
$250.00
6
Valuation

Earnings History (3 years)

It is important to look at a companies earnings history to see not only if they are profitable, but if their earnings are growing.
As you can see from the chart above, MTB's earnings have fluctuated but has increased since, this is a positive sign for the stock.
7
Dividend
There are few things we like to see when evaluating the quality of a company's dividend history and future

Ideally, we would like to see a company have a long history of consistently high dividend payouts that have grown at a consistent rate. From here we want to be confident that this sort of dividend growth and consistency will persist into the future.

The chart below shows the historical trend in M&T Bank (MTB) dividend yield on an annual basis.

-8.84%
M&T Bank (MTB) saw a decrease in its dividend yield since 2021
8
Past Performance
How has M&T Bank (MTB) performed over the past 5 years?

The two main factors that we consider when analyzing past performance is overall return and volatility

Using these two metrics, we can determine if this stock gave its investors enough return for the risk that they took on by owning it. This is measured by the sharpe ratio, which has been used as a primary measure of risk/reward trade-off for almost 60 years.

This ratio can be interpreted as the amount of return an investor has received for the amount of risk that they took on by owning the stock over that timeframe.

M&T Bank (MTB) sharpe ratio over the past 5 years is 1.1440 which is considered to be above average compared to the peer average of 0.7840

9
Company Financials
INCOME STATEMENT
The income statement also known as the profit and loss statement, primarily focuses on the company's revenues and expenses during a particular period.

The main purpose of an income statement is to convey details of profitability and business activities. Below, is MTB's income statement for the previous four years along with its trailing-twelve- month profit & loss.

FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Total Revenue
8.18
9.40
9.23
9.62
9.82
Operating Revenue
8.18
9.40
9.23
9.62
9.82
Cost Of Revenue
Gross Profit
Operating Expense
Selling General And Administration
2.97
3.22
3.35
3.49
3.53
Research and Development
Operating Income
Net Non-Operating Interest Income Expense
Other Income Expense
Other Non-Operating Income Expenses
Pre-Tax Income
2.61
3.62
3.31
3.69
3.92
Tax Provision
0.62
0.88
0.72
0.84
0.89
Net Income
1.99
2.74
2.59
2.85
3.03
Net Income Common Stockholders
1.89
2.64
2.45
2.70
2.87
Total Operating Income As Reported
Total Expenses
Net Income From Continuing And Discontinued Operation
1.99
2.74
2.59
2.85
3.03
Normalized Income
2.26
2.72
2.64
2.84
3.03
Interest Income
6.25
10.22
11.03
10.49
10.47
Interest Expense
0.43
3.11
4.17
3.54
3.39
Net Interest Income
5.82
7.11
6.85
6.95
7.08
EBIT
EBITDA
Reconciled Cost Of Revenue
Reconciled Depreciation
0.43
0.50
0.51
0.50
0.43
Normalized EBITDA
Tax Rate For Calcs
0.00
0.00
0.00
0.00
0.23
Tax Effect Of Unusual Items
-0.07
0.01
-0.01
0.00
0.00
BALANCE SHEET
The balance sheet is a snapshot of a companies financials during a particular period in time.

It breaks down what company owns (assets) and what a company owes (liabilities), in order to give investors an overview of its capital structure.

FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Total Assets
200.73
208.26
208.10
213.51
219.26
Current Assets
Total Non-Current Assets
Total Liabilities Net Minority Interest
175.41
181.31
179.08
184.33
191.32
Current Liabilities
Other Non-Current Liabilities
Total Equity Gross Minority Interest
25.32
26.96
29.03
29.18
27.95
Stockholders Equity
Total Capitalization
29.28
35.16
41.63
40.09
41.51
Common Stock Equity
23.31
24.95
26.63
26.34
25.51
Net Tangible Assets
16.62
18.34
20.47
20.65
19.43
Working Capital
Invested Capital
30.47
38.15
40.24
39.35
43.63
Tangible Book Value
14.61
16.33
18.07
17.81
17.00
Total Debt
7.16
13.20
13.61
13.01
18.12
Net Debt
0.68
Share Issued
0.18
0.18
0.18
0.18
0.18
Ordinary Shares Number
0.17
0.17
0.17
0.15
0.14
CASH FLOW STATEMENTS
A companies statement of cash flows gives an investor a break down of the cash inflows and outflows from a companies operations and investment activities.
FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Cash Flow from Continuing Operating Activities
4.57
3.91
3.61
3.00
3.80
Net Income from Continuing Operations
1.99
2.74
2.59
2.85
3.03
Depreciation and Amortization
0.43
0.50
0.51
0.50
0.43
Deferred Tax
-0.03
-0.10
-0.03
-0.02
0.03
Deferred Income Tax
-0.03
-0.10
-0.03
-0.02
0.03
Stock-Based Compensation
Other Non-Cash Items
Change in Working Capital
1.81
0.36
-0.08
-0.76
-0.16
Change in Receivables
Changes in Account Receivables
Change in Inventory
Change in Payables and Accrued Expense
Change in Payable
Change in Account Payable
Change in Other Current Assets
Change in Other Current Liabilities
Change in Other Working Capital
1.03
0.56
0.05
-0.39
-0.27
Cash Flow from Continuing Investing Activities
16.59
-7.87
-0.55
-6.82
-11.98
Net PPE Purchase and Sale
Net Business Purchase and Sale
Purchase of Business
Net Investment Purchase and Sale
-7.01
-1.57
-6.94
-2.18
-2.98
Purchase of Investment
-9.57
-4.50
-14.94
-9.03
-12.09
Sale of Investment
2.55
2.93
8.01
6.85
9.11
Net Other Investing Changes
-0.62
-0.44
-0.54
0.02
-0.57
Financing Cash Flow
-20.98
4.18
-2.88
1.80
4.61
Cash Flow from Continuing Financing Activities
-20.98
4.18
-2.88
1.80
4.61
Net Issuance Payments of Debt
2.70
5.97
0.23
-0.76
3.81
Net Long-Term Debt Issuance
0.09
4.21
4.49
-1.85
1.27
Long-Term Debt Issuance
5.04
5.50
3.53
3.95
Long-Term Debt Payments
-0.91
-0.82
-1.01
-5.38
-2.68
Net Short-Term Debt Issuance
2.61
1.76
-4.26
1.09
2.54
Net Common Stock Issuance
-0.59
-0.40
-2.63
-2.60
Common Stock Issuance
Common Stock Payments
-0.59
-0.40
-2.63
-2.60
Cash Dividends Paid
-0.88
-0.97
-1.03
-1.04
-1.07
Net Other Financing Charges
-0.01
0.02
0.11
-0.02
0.00
End Cash Position
6.88
7.17
7.60
24.96
54.51
Changes in Cash
0.18
0.21
0.18
-2.01
-3.56
Beginning Cash Position
6.69
6.96
7.42
8.10
39.20
Capital Expenditure
-0.21
-0.26
-0.22
-0.14
-0.21
Issuance of Capital Stock
Issuance of Debt
5.04
5.50
3.53
3.95
Repayment of Debt
-0.91
-0.82
-1.01
-5.38
-2.68
Repurchase of Capital Stock
-0.59
-0.75
-2.63
-3.00
Free Cash Flow
4.36
3.65
3.39
2.86
3.60