Stocks · Financial Services · Banks - Regional
M&T Bank Corporation MTB
$219.14 +0.82% Close, Oct 2, 2026 · NYSE · Market cap $31.76B
Next earnings report: Oct 16, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Net debt is 3.7× EBITDA, a high level of leverage.
- Earnings beat analyst estimates in each of the last 5 quarters (average surprise over the last four: +8.2%).
- Operating margin widened to 33.2% from 26.4% a year earlier.
PromtFinance scores
Each score is a percentile within the Financial Services sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth39Weak
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 16%
- EPS growth (TTM, YoY)Top 46%
- FCF growth (TTM, YoY)Top 45%
- Revenue growth, 3-year CAGRBottom 44%
- Revenue growth accelerationTop 36%
Quality65Positive
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 48%
- Gross marginTop 24%
- Operating marginTop 23%
- Cash conversion (OCF / net income)Top 44%
- Accruals (lower is better)Top 47%
- Net debt / EBITDA (lower is better)Bottom 32%
- Interest coverTop 43%
Value75Positive
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 28%
- Free-cash-flow yieldTop 28%
- EBITDA / enterprise valueTop 35%
- Sales / enterprise valueBottom 38%
- P/E vs own 5-year history (lower is better)Top 36%
Momentum40Weak
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 35%
- 6-month returnBottom 47%
- 1-year return vs S&P 500Top 41%
- Distance from 52-week highBottom 36%
- Trend checklist (0–4)Bottom 27%
Revisions65Positive
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 34%
- Consecutive EPS beatsTop 24%
- Share of analysts rating BuyBottom 26%
- Upside to consensus price targetTop 40%
Stability34Weak
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 46%
- Maximum drawdown, 3 yearsBottom 48%
- Beta vs S&P 500 (lower is better)Bottom 29%
- Net debt / EBITDA (lower is better)Bottom 32%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -6.9% | -5.8% | ↑ |
| EPS growth (YoY) | 20.4% | 22.8% | ↑ |
| Gross margin | 67.3% | 76.0% | ↑ |
| Operating margin | 26.4% | 33.2% | ↑ |
| FCF margin | 22.4% | 29.6% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | -5.8% | -6.9% | ↑ | Bottom 16% |
| EPS growth (TTM, YoY) | 22.8% | 20.4% | ↑ | Top 46% |
| Gross margin | 76.0% | 67.3% | ↑ | Top 24% |
| Operating margin | 33.2% | 26.4% | ↑ | Top 23% |
| Net margin | 24.4% | 20.5% | ↑ | — |
| Free-cash-flow margin | 29.6% | 22.4% | ↑ | — |
| Return on invested capital | 1.5% | — | Top 48% | |
| Revenue growth, 3-year CAGR | 13.4% | — | Bottom 44% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.25×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -0.4%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.1%
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 3.73×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 1.2×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 2.85%
- Net buyback yield (TTM)
- 6.81%
- Shareholder yield
- 9.66%
- Share count change, 1 year
- -2.2%
- Share count change, 3-year CAGR
- -2.0%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 4, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 5
- Beats in the last 8 reports
- 7 of 8
- Average EPS surprise, last 4
- +8.2%
- Average 2-day reaction, last 8
- -0.2%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $261.08
- Target vs current price
- +19.1%
- Analysts with a rating
- 48
- Share rating Buy or Strong Buy
- 31%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 15, 2026 | +14.8% | +2.8% | +2.8% | +4.3% | — |
| Apr 15, 2026 | +4.0% | -1.5% | -0.7% | -5.3% | +9.9% |
| Jan 16, 2026 | +4.2% | -0.1% | +0.6% | +7.6% | +3.7% |
| Oct 16, 2025 | +9.9% | -3.5% | -1.6% | +1.7% | +14.3% |
| Jul 16, 2025 | +7.3% | -2.4% | -0.3% | -3.1% | -4.7% |
| Apr 14, 2025 | -0.6% | +0.3% | -0.7% | +16.9% | +29.2% |
| Jan 16, 2025 | +4.5% | -2.4% | -1.9% | -1.9% | -21.4% |
| Oct 17, 2024 | +10.4% | +5.0% | +2.4% | +11.9% | +3.0% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 15, 2026 | $5.35 | $4.66 | +14.8% | $2.53B |
| Apr 15, 2026 | $4.18 | $4.02 | +4.0% | $2.44B |
| Jan 16, 2026 | $4.67 | $4.48 | +4.2% | $2.48B |
| Oct 16, 2025 | $4.87 | $4.43 | +9.9% | $2.51B |
| Jul 16, 2025 | $4.28 | $3.99 | +7.3% | $2.40B |
| Apr 14, 2025 | $3.38 | $3.40 | -0.6% | $2.31B |
| Jan 16, 2025 | $3.92 | $3.75 | +4.5% | $2.36B |
| Oct 17, 2024 | $4.02 | $3.64 | +10.4% | $2.33B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 11.6× | 12.0× | 38th | Top 28% |
| P/E (forward) | 11.3× | — | — | — |
| EV / EBITDA | 11.0× | — | — | Top 35% |
| EV / Sales | 3.86× | — | — | Bottom 38% |
| Free-cash-flow yield | 11.59% | — | — | Top 28% |
| Earnings yield | 8.65% | — | — | Top 28% |
P/E over the past five years
Range 7.0× – 16.6× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +12.2%
- Earnings per share growth (TTM)
- +22.8%
- Change in P/E multiple
- +9.5%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -2.5%
- 200-day average slope (20 days)
- +1.6%
- Distance from 50-day average
- -8.2%
- Distance from 200-day average
- -2.1%
- RSI (14)
- 31.6
- Relative volume
- 0.85×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 19.8%
- Volatility vs own 5-year history
- 1th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.88
- Correlation with S&P 500
- 0.53
- Current drawdown from 1-year high
- -13.8%
- Maximum drawdown, 3 years
- -29.5%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Aug 16, 2022 | Oct 27, 2023 | -43.1% | 302 days | 244 days (Oct 17, 2024) |
| Nov 25, 2024 | Apr 8, 2025 | -29.4% | 90 days | 205 days (Feb 2, 2026) |
| May 17, 2021 | Jul 22, 2021 | -22.9% | 46 days | 117 days (Jan 6, 2022) |
| Feb 16, 2022 | Jul 14, 2022 | -19.1% | 101 days | 20 days (Aug 11, 2022) |
| Feb 6, 2026 | Mar 19, 2026 | -17.5% | 28 days | 69 days (Jun 29, 2026) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $31.76B
- P/E (TTM)
- 11.6
- EPS, diluted (TTM)
- $18.96
- Revenue (TTM)
- $12.43B
- Dividend yield
- 2.74%
- 52-week range
- $174.76 – $255.95
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $6.08B | $8.44B | $12.51B | $13.40B | $12.31B |
| Gross profit | $6.04B | $7.50B | $8.75B | $8.62B | $9.19B |
| Operating income | $2.46B | $2.61B | $3.62B | $3.31B | $3.69B |
| Net income | $1.86B | $1.99B | $2.74B | $2.59B | $2.85B |
| EPS (diluted) | $13.80 | $11.53 | $15.79 | $14.64 | $17.00 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.39B | $3.34B | $3.17B | $3.29B | $2.51B | $3.33B | $3.23B | $3.36B |
| Net income | $721.0M | $681.0M | $584.0M | $716.0M | $792.0M | $759.0M | $664.0M | $818.0M |
| EPS (diluted) | $4.02 | $3.86 | $3.32 | $4.24 | $4.82 | $4.67 | $4.24 | $5.23 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $2.71B | $4.57B | $3.90B | $3.61B | $3.00B |
| Capital expenditure | -$149.0M | -$214.0M | -$256.0M | -$216.0M | -$143.0M |
| Free cash flow | $2.57B | $4.36B | $3.65B | $3.39B | $2.86B |
| Dividends paid | -$580.0M | -$784.0M | -$868.0M | -$895.0M | -$899.0M |
| Net share buybacks | $0 | -$1.80B | -$594.0M | -$13.0M | -$2.19B |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $1.94B
- Total assets
- $219.26B
- Total liabilities
- $191.31B
- Total debt
- $18.18B
- Net debt
- $16.24B
- Shareholders’ equity
- $27.95B
As of Jun 30, 2026 (filed Aug 4, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 1, 2026 | $1.50 | Sep 30, 2026 |
| Jun 1, 2026 | $1.50 | Jun 30, 2026 |
| Mar 2, 2026 | $1.50 | Mar 31, 2026 |
| Dec 1, 2025 | $1.50 | Dec 31, 2025 |
| Sep 2, 2025 | $1.50 | Sep 30, 2025 |
| Jun 2, 2025 | $1.35 | Jun 30, 2025 |
| Mar 3, 2025 | $1.35 | Mar 31, 2025 |
| Dec 2, 2024 | $1.35 | Dec 31, 2024 |
Short interest
- Shares sold short
- 5,193,279
- Days to cover
- 5.12
- Change vs previous report
- -7.0%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Oct 6, 2000
- 10-for-1
- Sep 25, 1987
- 2-for-1