NYSE:MTB

Stock Analysis Report

Executive Summary

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services.

Snowflake

Fundamentals

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has M&T Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.6%

MTB

4.1%

US Banks

1.0%

US Market


1 Year Return

-2.5%

MTB

7.2%

US Banks

8.0%

US Market

Return vs Industry: MTB underperformed the US Banks industry which returned 7.2% over the past year.

Return vs Market: MTB underperformed the US Market which returned 8% over the past year.


Shareholder returns

MTBIndustryMarket
7 Day-1.6%4.1%1.0%
30 Day-1.4%2.8%-0.07%
90 Day-5.3%2.9%-1.0%
1 Year-0.06%-2.5%10.3%7.2%10.4%8.0%
3 Year37.9%29.5%53.9%43.3%46.2%36.7%
5 Year46.8%31.6%71.9%53.1%64.3%46.2%

Price Volatility Vs. Market

How volatile is M&T Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is M&T Bank undervalued compared to its fair value and its price relative to the market?

30.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MTB ($154.04) is trading below our estimate of fair value ($219.99)

Significantly Below Fair Value: MTB is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MTB is good value based on its PE Ratio (11.1x) compared to the Banks industry average (12.6x).

PE vs Market: MTB is good value based on its PE Ratio (11.1x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

PEG Ratio: MTB's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: MTB is overvalued based on its PB Ratio (1.4x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is M&T Bank forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

-4.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MTB's earnings are forecast to decline over the next 3 years (-4.7% per year).

Earnings vs Market: MTB's earnings are forecast to decline over the next 3 years (-4.7% per year).

High Growth Earnings: MTB's earnings are forecast to decline over the next 3 years.

Revenue vs Market: MTB's revenue is expected to decline over the next 3 years (-0.3% per year).

High Growth Revenue: MTB's revenue is forecast to decline over the next 3 years (-0.3% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MTB's Return on Equity is forecast to be low in 3 years time (13.2%).


Next Steps

Past Performance

How has M&T Bank performed over the past 5 years?

16.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MTB's earnings have grown by 16% per year over the past 5 years.

Accelerating Growth: MTB's earnings growth over the past year (17.9%) exceeds its 5-year average (16% per year).

Earnings vs Industry: MTB earnings growth over the past year (17.9%) underperformed the Banks industry 30.1%.


Return on Equity

High ROE: MTB's Return on Equity (12.6%) is considered low.


Return on Assets

ROA vs Industry: MTB has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate MTB's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is M&T Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: MTB has a low level of unsold assets or inventory.

Debt Coverage by Assets: MTB's debt is covered by short term assets (assets are 1.240980x debt).


Financial Institutions Analysis

Asset Level: MTB's level of assets compared to its equity is low.

Allowance for Bad Loans: MTB has a sufficient allowance for bad loans.

Low Risk Liabilities: MTB's liabilities are made up of primarily low risk sources of funding.

Loan Level: MTB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: MTB's loans are broadly funded by customer deposits.

Level of Bad Loans: MTB has an appropriate level of bad loans (1.12%)


Next Steps

  • Explore more healthy companies in the Banks industry.

Dividend

What is M&T Bank's current dividend yield, its reliability and sustainability?

2.60%

Current Dividend Yield


Dividend Yield vs Market

company2.6%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Years3.0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MTB's dividend (2.6%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: MTB's dividend (2.6%) is low compared to the top 25% of dividend payers in the US market (3.68%).

Stable Dividend: MTB's dividends per share have been stable in the past 10 years.

Growing Dividend: MTB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (28.7%), MTB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MTB's dividends in 3 years are forecast to be well covered by earnings (35.6% payout ratio).


Next Steps

Management

What is the CEO of M&T Bank's salary, the management and board of directors tenure and is there insider trading?

2.2yrs

Average management tenure


CEO

Ren Jones (54yo)

1.8yrs

Tenure

US$4,770,132

Compensation

Mr. René F. Jones, also known as Ren, is chief executive officer, chairman of the board and a director of M&T Bank Corporation since December 20, 2017 and M&T Bank December 2017. He is an Executive Vice Pr ...


CEO Compensation Analysis

Compensation vs. Market: Ren has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the US market.

Compensation vs Earnings: Ren's compensation has increased by more than 20% in the past year.


Management Age and Tenure

2.2yrs

Average Tenure

57yo

Average Age

Experienced Management: MTB's management team is considered experienced (2.2 years average tenure).


Board Age and Tenure

18.8yrs

Average Tenure

74.5yo

Average Age

Experienced Board: MTB's board of directors are seasoned and experienced ( 18.8 years average tenure).


Insider Trading

Insider Buying: MTB insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

SellUS$100,47811 Sep 19
John D'Angelo
EntityIndividual
Shares650
Max PriceUS$154.58
BuyUS$153,24720 Aug 19
Michael Todaro
EntityIndividual
Shares1,025
Max PriceUS$149.51
BuyUS$26,94116 Aug 19
Michael Todaro
EntityIndividual
Shares186
Max PriceUS$144.84
SellUS$167,26214 Aug 19
Doris Meister
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Wealth & Institutional Services
Shares1,108
Max PriceUS$150.96
SellUS$502,93705 Aug 19
William Farrell
EntityIndividual
Shares3,070
Max PriceUS$163.82
SellUS$73,73304 Jun 19
Doris Meister
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Wealth & Institutional Services
Shares460
Max PriceUS$160.29
SellUS$299,99431 May 19
Darren King
EntityIndividual
Role
Chief Financial Officer
Executive VP & CFO
Shares1,841
Max PriceUS$162.95
SellUS$278,50707 May 19
Robert Bojdak
EntityIndividual
Shares1,638
Max PriceUS$170.03
SellUS$250,07603 May 19
William Farrell
EntityIndividual
Shares1,476
Max PriceUS$169.43
SellUS$18,07701 May 19
C. Bontempo
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares106
Max PriceUS$170.54
SellUS$184,93919 Apr 19
Sabeth Siddique
EntityIndividual
Shares1,100
Max PriceUS$168.13
SellUS$674,12119 Apr 19
Brian Hickey
EntityIndividual
Shares4,000
Max PriceUS$168.53
SellUS$865,71119 Mar 19
Michele Trolli
EntityIndividual
Role
Chief Technology Officer
Executive VP and Chief Technology & Operations Officer
Shares5,000
Max PriceUS$173.14
SellUS$173,17304 Mar 19
Gary Geisel
EntityIndividual
Shares1,001
Max PriceUS$173.00
SellUS$111,85631 Jan 19
Michael Todaro
EntityIndividual
Shares667
Max PriceUS$167.70
SellUS$60,46824 Jan 19
Sabeth Siddique
EntityIndividual
Shares365
Max PriceUS$165.67
SellUS$84,20004 Dec 18
Richard Ledgett
EntityIndividual
Shares500
Max PriceUS$168.40
SellUS$153,64316 Nov 18
Robert Bojdak
EntityIndividual
Shares934
Max PriceUS$164.50
SellUS$133,79213 Nov 18
Doris Meister
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Wealth & Institutional Services
Shares800
Max PriceUS$167.24
SellUS$153,26402 Nov 18
Sabeth Siddique
EntityIndividual
Shares930
Max PriceUS$164.80

Ownership Breakdown


Management Team

  • Kevin Pearson (57yo)

    Executive VP & Director

    • Tenure: 0yrs
    • Compensation: US$3.21m
  • Michele Trolli (57yo)

    Executive VP and Chief Technology & Operations Officer

    • Tenure: 1.8yrs
  • Michael Spychala

    Senior VP

    • Tenure: 0yrs
  • Ren Jones (54yo)

    Chairman & CEO

    • Tenure: 1.8yrs
    • Compensation: US$4.77m
  • Don MacLeod

    Administrative VP

    • Tenure: 0yrs
  • Doris Meister (63yo)

    Executive Vice President of Wealth & Institutional Services

    • Tenure: 3.2yrs
    • Compensation: US$2.36m
  • Rich Gold (58yo)

    President

    • Tenure: 1.8yrs
    • Compensation: US$3.21m
  • Darren King (49yo)

    Executive VP & CFO

    • Tenure: 3.4yrs
    • Compensation: US$2.36m
  • Marianne Roche

    Chief Regulatory Counsel & Enterprise Compliance Risk Manager

    • Tenure: 0yrs
  • Laura O'Hara

    Senior VP & General Counsel

    • Tenure: 2.2yrs

Board Members

  • Bob Sadler (73yo)

    Director

    • Tenure: 20.8yrs
    • Compensation: US$239.50k
  • Brent Baird (80yo)

    Independent Director

    • Tenure: 36.8yrs
    • Compensation: US$249.00k
  • Robert Brady (78yo)

    Vice Chairman & Lead Independent Director

    • Tenure: 4.3yrs
    • Compensation: US$200.00k
  • Thomas Jefferson Cunningham (76yo)

    Independent Director

    • Tenure: 18.8yrs
    • Compensation: US$198.00k
  • C. Bontempo (78yo)

    Independent Director

    • Tenure: 28.8yrs
    • Compensation: US$184.00k
  • Herbert Washington (68yo)

    Independent Director

    • Tenure: 23.8yrs
    • Compensation: US$174.00k
  • Jerry Hawke (85yo)

    Independent Director

    • Tenure: 7.3yrs
    • Compensation: US$196.00k
  • Kevin Pearson (57yo)

    Executive VP & Director

    • Tenure: 0yrs
    • Compensation: US$3.21m
  • Ren Jones (54yo)

    Chairman & CEO

    • Tenure: 1.8yrs
    • Compensation: US$4.77m
  • Rich Gold (58yo)

    President

    • Tenure: 1.8yrs
    • Compensation: US$3.21m

Company Information

M&T Bank Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: M&T Bank Corporation
  • Ticker: MTB
  • Exchange: NYSE
  • Founded: 1856
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$20.376b
  • Shares outstanding: 132.28m
  • Website: https://www.mtb.com

Number of Employees


Location

  • M&T Bank Corporation
  • One M&T Plaza
  • Buffalo
  • New York
  • 14203
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MTBNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1969
MTZDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1969
0JW2LSE (London Stock Exchange)YesCommon StockGBUSDJan 1969
A1ZDN2DB (Deutsche Boerse AG)6.45%-FRN PERP USD 'E'DEUSDFeb 2014

Biography

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company’s Business Banking se ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 23:40
End of Day Share Price2019/10/21 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.