M&t Bank Corp
M&t Bank Corp (MTB) is listed on NYSE and classified in Banks - Regional, part of the Financial Services sector. It is headquartered in Buffalo, United States and has 21,562 employees. The company is worth $32.18B and trades at 11.6x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was $9.69B in fiscal 2025, up 4.4% from the year before. Net income was $2.85B. The share price is 12.9% below its 52-week high of $255.95. It pays a dividend yielding 2.69%, and has raised its annual dividend for 9 years in a row in our records. 5 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $49.61M. In that quarter, 3 of them opened or added to the position and 1 reduced it. Over the last 30 days, company insiders sold $441.5K of its stock on the open market and bought none. All of those sales were scheduled in advance under 10b5-1 plans.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +46.8% over 5Y.
today you would have $1,712.34▲ +71.2%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 19 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $201.48 | $188.01 | $137.08 | $145.06 | $153.58 | $127.30 | $169.75 | $143.13 | $170.99 | $156.43 | $121.18 | $125.62 | $116.42 | $98.47 | $76.34 | $87.05 | $66.89 |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 11.3% a year plus a 2.7% dividend yield. Growth capped at 25%.
Median P/E of 13.2 among peers in the sector.
Median P/E of 12.8 across this company’s own years on record.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| HBANHuntington Bancshares Inc | $15.66 | 12.0x | 1.1x | 3.96% | 9.00% | $31.64B |
| SHGShinhan Financial Group Co Ltd | $70.31 | 9.3x | 0.7x | 2.84% | 8.94% | $33.11B |
| RKTRocket Companies, Inc. | $11.74 | — | 1.4x | 0.00% | 3.03% | $33.24B |
| WTWWillis Towers Watson PLC |
| $57.41 |
| $81.57 |
| P/E | 12.8x | 11.9x | 12.8x | 8.7x | 12.6x | 11.1x | 12.8x | 12.3x | 11.2x | 19.7x | 20.1x | 16.9x | 16.9x | 14.2x | 13.1x | 12.0x | 15.3x | 23.1x | 11.5x | 13.7x |
| P/S | 3.2x | 3.1x | 3.3x | 2.4x | 3.0x | 3.3x | 2.7x | 3.6x | 3.3x | 4.6x | 4.6x | 4.1x | 3.7x | 3.4x | 3.0x | 2.4x | 3.1x | 2.6x | 2.2x | — |
| P/B | 1.1x | 1.0x | 1.1x | 0.8x | 1.0x | 1.1x | 1.0x | 1.4x | 1.3x | 1.6x | 1.5x | 1.2x | 1.4x | 1.3x | 1.2x | 1.0x | 1.3x | 1.0x | 0.9x | — |
| EPS | $17.00 | $14.64 | $15.79 | $11.53 | $13.80 | $9.94 | $13.75 | $12.74 | $8.70 | $7.78 | $7.18 | $7.42 | $8.20 | $7.54 | $6.35 | $5.69 | $2.89 | $5.01 | $5.95 |
| Dividend yield | 2.85% | 2.83% | 2.85% | 3.79% | 3.31% | 2.93% | 3.46% | 2.42% | 2.48% | 1.75% | 1.79% | 2.31% | 2.23% | 2.41% | 2.84% | 3.67% | 3.22% | 4.19% | 4.88% | 3.19% |
| Payout | 37.14% | 33.53% | 36.54% | 32.93% | 41.63% | 32.61% | 44.27% | 29.82% | 27.86% | 34.48% | 35.99% | 39.00% | 37.74% | 34.15% | 37.14% | 44.09% | 49.21% | 96.89% | 55.89% | 43.70% |
| Profit margin | 24.36% | 29.42% | 27.89% | 28.42% | 24.36% | 31.02% | 22.72% | 31.16% | 32.35% | 25.00% | 24.83% | 23.13% | 23.93% | 25.09% | 24.13% | 21.63% | 21.81% | 12.24% | 19.31% | 23.51% |
| ROE | 8.92% | 9.77% | 8.92% | 10.17% | 7.87% | 10.38% | 8.36% | 12.27% | 12.41% | 8.67% | 7.98% | 6.68% | 8.64% | 10.07% | 10.09% | 9.27% | 8.81% | 4.90% | 8.19% | 10.09% |
Median of the years shown; P/E years above 200x are left out.
Dividend growing 5.6% a year against a 7.1% required return, from the stock’s beta.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
5 methods answered, across 2 families.
Room for errors in the reported numbers.
+48.6% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| $332.18 |
| 19.7x |
| 4.0x |
| 1.16% |
| 19.76% |
| $30.85B |
| RJFRaymond James Financial Inc | $159.19 | 13.6x | 2.4x | 1.36% | 18.42% | $30.58B |
| NTRSNorthern Trust Corp | $165.82 | 13.0x | 2.4x | 1.98% | 18.44% | $30.34B |