M&T BANK CORP · Banks

MTB

Low riskNext report: Around Jan 15, 2027 (est.)

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The short version

A high-quality, profitable business with steady sales.

Going well

Profitable every year for 10 years
Brings in more cash than it spends
Buying back shares: share count down 3.2% in 3 years

Money moves

Insiders sold $442K in the last 30 days, all through pre-planned sales
Institutions cut 0.4% from their holdings in the quarter ending June 2026 (506 bought, 472 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$221.89+0.1% that day

Company value: $32.0B; Share price times all shares
Price vs profit (P/E): 11.7x; You pay about $12 for each $1 of yearly profit
Price vs sales: 18.8x; Company value is 18.8 times a year of sales
Dividend yield: 2.6%; Yearly dividend as a share of today's price
Cash vs value: 54%; A big cushion: cash is a large part of what the company is worth
Debt vs value: 34%; Debt as a share of company value

From MTB's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$442.0M+6.0% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $1.7B, up 6.4% from the 12 months before.

What the price assumes

Your guesses, our math

Move the sliders to your own view of MTB. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).

Sales growth+6% a yearRecently: +6.4% a yearProfit margin10%Not reportedP/E at the end12xToday: 11.7x. Many steady companies trade at 12x to 25xShare count change-1% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$2.3B

Profit in 5 years$228M

Price these guesses point to$19.91-91% vs $221.89 todayAbout -38% a year, before dividends

What today's price needs: with a 10% margin and a 12x P/E, sales would have to grow about 72% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

4/5Strong

MissReturn on equity 15%+Earns a lot on the money owners have in the business.9.8%
PassDebt under half of equityNot relying on borrowed money.0.37x equity
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$3.0B
PassShare count not growingNot diluting owners. Falling means buybacks.-3.2% in 3 years

Revenue: $1.7B
Total debt: $10.9B; 0.37x equity
Free cash flow: $3.0B

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. Not in this company's SEC data, so not scored: net margin 10%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Oct 16Before open6:02 am ET

From the press release

Effective January 1, 2026, the Company elected to prospectively measure its residential mortgage loan servicing right assets at fair value with changes in fair value reflected in mortgage banking revenues.
As a result, amortization associated with residential mortgage loan servicing right assets previously recognized in other costs of operations before 2026 is no longer recorded.
Instead, beginning in 2026 fair value changes in residential mortgage loan servicing right assets, inclusive of the realization of expected net servicing revenues over time, are included in mortgage banking revenues.

The numbers below are the quarter before. The new quarter's full numbers come with the 10-Q. Read the press release ↗