M&T Bank
Market Cap
US$22.0b
Last Updated
2020/02/20 00:33 UTC
Data Sources
Company Financials +
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.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -1.2% per year for the next 3 years
Snowflake Analysis
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
Stable Share Price: MTB has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-1.4%
MTB
-1.0%
US Banks
0.5%
US Market
1 Year Return
-2.8%
MTB
10.6%
US Banks
20.3%
US Market
Return vs Industry: MTB underperformed the US Banks industry which returned 10.6% over the past year.
Return vs Market: MTB underperformed the US Market which returned 20.3% over the past year.
Shareholder returns
| MTB | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.4% | -1.0% | 0.5% |
| 30 Day | 4.5% | -1.2% | 2.0% |
| 90 Day | 2.0% | 0.4% | 9.4% |
| 1 Year | -0.3%-2.8% | 13.8%10.6% | 22.8%20.3% |
| 3 Year | 5.7%-0.9% | 23.5%14.6% | 50.1%40.4% |
| 5 Year | 54.0%38.7% | 74.0%54.2% | 73.1%54.1% |
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
1 week ago | Simply Wall St
Have Insiders Sold M&T Bank Corporation (NYSE:MTB) Shares Recently?3 weeks ago | Simply Wall St
M&T Bank Corporation Annual Results: Here's What Analysts Are Forecasting For Next Year1 month ago | Simply Wall St
At US$163, Is It Time To Put M&T Bank Corporation (NYSE:MTB) On Your Watch List?Valuation
Is M&T Bank undervalued compared to its fair value and its price relative to the market?
43.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MTB ($168.26) is trading below our estimate of fair value ($296.3)
Significantly Below Fair Value: MTB is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MTB is good value based on its PE Ratio (12.2x) compared to the Banks industry average (12.6x).
PE vs Market: MTB is good value based on its PE Ratio (12.2x) compared to the US market (18.3x).
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 (1.5x) 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 13 analysts?
-1.2%
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 (-1.2% per year).
Earnings vs Market: MTB's earnings are forecast to decline over the next 3 years (-1.2% per year).
High Growth Earnings: MTB's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MTB's revenue (2% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: MTB's revenue (2% per year) is forecast to grow slower than 20% 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 (15%).
Next Steps
Past Performance
How has M&T Bank performed over the past 5 years?
15.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MTB has high quality earnings.
Growing Profit Margin: MTB's current net profit margins (30.7%) are lower than last year (31.7%).
Past Earnings Growth Analysis
Earnings Trend: MTB's earnings have grown by 15.8% per year over the past 5 years.
Accelerating Growth: MTB's earnings growth over the past year (0.7%) is below its 5-year average (15.8% per year).
Earnings vs Industry: MTB earnings growth over the past year (0.7%) underperformed the Banks industry 12.3%.
Return on Equity
High ROE: MTB's Return on Equity (12.3%) is considered low.
Return on Assets
Return on Capital Employed
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 1.4x 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 (1.06%)
Next Steps
Dividend
What is M&T Bank's current dividend yield, its reliability and sustainability?
2.62%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: MTB's dividend (2.62%) is higher than the bottom 25% of dividend payers in the US market (1.44%).
High Dividend: MTB's dividend (2.62%) is low compared to the top 25% of dividend payers in the US market (3.73%).
Stability and Growth of Payments
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 (29.8%), 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 (30.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.5yrs
Average management tenure
CEO
Ren Jones (54yo)
2.2yrs
Tenure
US$4,770,132
Compensation
Mr. René F. Jones, also known as Ren, is chief executive officer, chairman of the board and a director of M&T Bank Corporation since December 20, 2017 and M&T Bank December 2017. He is an Executive Vice Pr ...
CEO Compensation Analysis
Compensation vs Market: Ren's total compensation ($USD4.77M) is below average for companies of similar size in the US market ($USD10.78M).
Compensation vs Earnings: Ren's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 2.2yrs | US$4.77m | 0.048% $10.5m | |
| Executive VP & Director | 0yrs | US$3.21m | 0.034% $7.5m | |
| President | 2.2yrs | US$3.21m | 0.033% $7.2m | |
| Executive VP & CFO | 3.8yrs | US$2.36m | 0.036% $7.9m | |
| Executive Vice President of Wealth & Institutional Services | 3.5yrs | US$2.36m | 0.0021% $470.2k | |
| Senior VP | 0yrs | no data | 0.026% $5.7m | |
| Executive VP and Chief Technology & Operations Officer | 2.1yrs | no data | 0.010% $2.3m | |
| Administrative VP | 0yrs | no data | no data | |
| Chief Regulatory Counsel & Enterprise Compliance Risk Manager | 0yrs | no data | no data | |
| Senior VP & General Counsel | 2.5yrs | no data | 0.0016% $353.8k |
2.5yrs
Average Tenure
57yo
Average Age
Experienced Management: MTB's management team is considered experienced (2.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 2.2yrs | US$4.77m | 0.048% $10.5m | |
| Executive VP & Director | 0yrs | US$3.21m | 0.034% $7.5m | |
| President | 2.2yrs | US$3.21m | 0.033% $7.2m | |
| Director | 21.1yrs | US$239.50k | 0.060% $13.1m | |
| Independent Director | 37.1yrs | US$249.00k | 0.026% $5.8m | |
| Vice Chairman & Lead Independent Director | 4.7yrs | US$200.00k | 0.014% $3.0m | |
| Independent Director | 19.1yrs | US$198.00k | 0.0091% $2.0m | |
| Independent Director | 29.1yrs | US$184.00k | 0.011% $2.3m | |
| Independent Director | 24.1yrs | US$174.00k | 0.0099% $2.2m | |
| Independent Director | 7.7yrs | US$196.00k | 0.0048% $1.1m |
19.1yrs
Average Tenure
74.5yo
Average Age
Experienced Board: MTB's board of directors are seasoned and experienced ( 19.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MTB insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
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$21.973b
- Shares outstanding: 130.59m
- Website: https://www.mtb.com
Number of Employees
Location
- M&T Bank Corporation
- One M&T Plaza
- Buffalo
- New York
- 14203
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MTB | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Jan 1969 |
| MTZ | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jan 1969 |
| 0JW2 | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Jan 1969 |
| A1ZDN2 | DB (Deutsche Boerse AG) | ALT TIER I PERP | DE | USD | Feb 2014 | |
| M1TB34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH 4 REPR 1 COM | BR | BRL | Jan 2020 |
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 segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals. Its Commercial Banking segment provides credit and banking services for middle-market and large commercial customers. The company’s Commercial Real Estate segment offers multifamily residential and commercial real estate credit, and deposit services. Its Discretionary Portfolio segment provides deposits; securities, residential real estate loans, and other assets; and short and long term borrowed funds, as well as foreign exchange services. The company’s Residential Mortgage Banking segment offers residential real estate loans for consumers and sells those loans in the secondary market; and purchases servicing rights to loans originated by other entities. Its Retail Banking segment offers demand, savings, and time accounts; consumer installment loans, automobile and recreational finance loans, home equity loans and lines of credit, and credit cards; demand, savings; and time accounts; mutual funds and annuities; and other services. The company also provides trust and wealth management; fiduciary and custodial; investment management; and insurance agency services. It offers its services through banking offices, business banking centers, telephone and Internet banking, mobile banking, and automated teller machines. As of December 31, 2018, the company had 750 domestic banking offices in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, and the District of Columbia; a full-service commercial banking office in Ontario, and Canada; and an office in George Town, Cayman Islands. M&T Bank Corporation was founded in 1856 and is headquartered in Buffalo, New York.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/20 00:33 |
| End of Day Share Price | 2020/02/19 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.