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US regional bank headquartered in Buffalo, offering retail, commercial and commercial real estate banking in the Northeast/Mid-Atlantic.
US regional bank headquartered in Buffalo, offering retail, commercial and commercial real estate banking in the Northeast/Mid-Atlantic.
Earns mainly from the spread between lending and deposit rates, plus fees from trust, wealth management and mortgage work. Commercial real-estate lending, including loans to apartment and office owners, is a large part of its loan book. The 2022 purchase of People's United Financial extended it from the Mid-Atlantic into New England.
Moat: narrow (scale, distribution). Long-standing conservative-underwriting reputation and dense Northeast branch network; banking remains competitive.
Headquarters: Buffalo, New York, United States · Founded: 1856 · Employees: 22,080
Size M&T Bank (MTB) is a United States Financials company (Regional Banks) with a market value of $31.4B, the 352nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $217.75 on 6 Nov 2026.
Performance Over six months the shares gained 2.6%, against +9.7% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 0.1% over the last twelve months (peer median +2.6%); the operating margin is 38.6% (peer median 33.7%).
Valuation It trades at 1.24× book value against a peer median of 1.33× (9th cheapest of 21).
Price implies The share price implies a return on equity of about 9.3%; M&T Bank delivers 10.6%, so the price asks less than the business earns today.
Backlog Backlog (remaining performance obligations) was $78.0M at 30 Sep 2026, up 15% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Credit M&T Bank has 9 bonds outstanding ($6.35B), rated BBB+ by the agencies.
Short interest Short interest is 3.6% of the free float (15 Oct 2026).
Next results Next results expected around 19 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $13.2B | $13.2B | $13.4B | $12.5B | $8.65B |
| Revenue growth | — | -2% | +7% | +44% | — |
| Net income | $3.01B | $2.85B | $2.58B | $2.74B | $1.99B |
| Free cash flow | n/a | $3.59B | $3.58B | $4.11B | $2.36B |
| Capital expenditure | n/a | $1.19B | $242M | $256M | $214M |
| Total debt | $20.0B | $13.7B | $14.3B | $14.2B | $8.23B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| M&T Bank MTB | $31.4B | +3% | 0% | 11% | 1.24× | 9.3% |
| KeyCorp KEY | $22.0B | -3% | +9% | 11% | 1.39× | 13.1% |
| Citizens Financial CFG | $26.5B | -1% | +4% | 9% | 1.16× | 11.5% |
| Truist Financial TFC | $59.2B | +1% | -5% | 8% | 1.06× | 9.6% |
| Fifth Third Bancorp FITB | $47.9B | +8% | +15% | 9% | 1.55× | 13.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MTB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.1% | +1.4% | 9th lowest of 21 |
| 6-month return | +2.6% | +9.7% | 5th lowest of 21 |
| Return on equity | 10.6% | 11.9% | 9th lowest of 21 |
| Price / book | 1.24× | 1.33× | 9th cheapest of 21 |
| Trailing P/E | 11.4× | 12.2× | 9th cheapest of 20 |
| ROE the price implies | 9.3% | 8.4% | 9th most demanding of 21 |
| ROE delivered | 10.6% | 12.8% | 8th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| M&T Bank MTB | United States | $31.4B | +3% | 0% | 11% | 1.24× | 9.3% | 10.6% |
| Resona 8308.T | Japan | $30.8B | +9% | +17% | 9% | 1.57× | 8.7% | 9.3% |
| Bank of Ningbo 002142.SZ | China | $34.0B | +3% | +3% | 13% | 0.92× | 7.0% | 13.3% |
| Bank of Jiangsu 600919.SS | China | $35.1B | +13% | +5% | 13% | 0.83× | 2.9% | 12.8% |
| KBFinancialGroup 105560.KS | South Korea | $37.5B | -5% | +32% | 10% | 0.99× | 5.6% | n/a |
| Banca Monte dei Paschi di Siena BMPS.MI | Italy | $38.4B | +19% | +55% | 16% | 1.30× | 13.9% | 15.5% |
| First Citizens BancShares FCNCA | United States | $25.2B | +16% | 0% | 11% | 1.29× | 9.3% | 11.0% |
| Grupo Cibest S.A. Unsponsored ADR Pfd CIB | United States | $24.7B | +42% | +7% | 19% | 1.97× | 14.4% | 18.9% |
| Mediobanca - Banca di Credito Finanziario MB.MI | Italy | $23.7B | +26% | +4% | 11% | 1.82× | 18.7% | 10.8% |
| Ctbc Financial 2891.TW | Taiwan | $43.7B | +37% | +9% | 15% | 2.06× | 8.9% | 14.7% |
| Commerzbank CBK.DE | Germany | $46.3B | +4% | -3% | 10% | 1.36× | 10.3% | 10.3% |
| Hua Nan Financial 2880.TW | Taiwan | $20.8B | +50% | -37% | 14% | 2.85× | 7.9% | 14.1% |
| Fifth Third Bancorp FITB | United States | $47.9B | +8% | +15% | 9% | 1.55× | 13.6% | 9.4% |
| Erste Bank Polska EBP.WA | Poland | $20.4B | +35% | -9% | 16% | 2.42× | 26.7% | 15.6% |
| Shanghai Pudong Development Bank 600000.SS | China | $50.1B | +8% | -3% | 6% | 0.40× | 2.0% | 6.1% |
| Sinopac Financial Hldgs 2890.TW | Taiwan | $19.3B | +36% | +31% | 16% | 2.34× | 7.7% | 16.3% |
| Bank of Beijing 601169.SS | China | $18.6B | +11% | -5% | 7% | 0.43× | 2.0% | 7.3% |
| Bank of Hangzhou 600926.SS | China | $18.6B | -2% | -3% | 14% | 0.86× | 3.0% | 13.8% |
| Credit Agricole ACA.PA | France | $53.7B | -8% | -1% | 9% | 0.68× | 8.1% | 8.9% |
| East West Bancorp EWBC | United States | $17.7B | +5% | +3% | 17% | 1.95× | 16.3% | 16.6% |
| Bank of Shanghai 601229.SS | China | $17.6B | -13% | -7% | 8% | 0.44× | 2.0% | 7.5% |
M&T Bank has 9 bonds outstanding with $6.35B face value. The agencies rate it BBB+.
M&T Bank reported $78.0M of remaining performance obligations at 30 Sep 2026, up 15% from a year earlier. That is 0.0 years of trailing revenue already under contract.