M&T Bank
Market Cap
US$12.9b
Last Updated
2020/07/02 23:53 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
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's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-4.3%
MTB
-4.6%
US Banks
1.6%
US Market
1 Year Return
-41.4%
MTB
-27.8%
US Banks
4.8%
US Market
Return vs Industry: MTB underperformed the US Banks industry which returned -27.8% over the past year.
Return vs Market: MTB underperformed the US Market which returned 4.8% over the past year.
Shareholder returns
| MTB | Industry | Market | |
|---|---|---|---|
| 7 Day | -4.3% | -4.6% | 1.6% |
| 30 Day | -5.1% | -5.4% | 2.3% |
| 90 Day | 9.7% | 15.3% | 29.5% |
| 1 Year | -39.5%-41.4% | -25.2%-27.8% | 7.1%4.8% |
| 3 Year | -33.9%-38.5% | -17.8%-24.4% | 37.1%28.1% |
| 5 Year | -9.0%-19.0% | 10.0%-3.3% | 67.2%48.6% |
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
2 weeks ago | Simply Wall St
Should You Worry About M&T Bank Corporation's (NYSE:MTB) CEO Salary Level?1 month ago | Simply Wall St
The Executive Vice President of Wealth & Institutional Services of M&T Bank Corporation (NYSE:MTB), Doris Meister, Just Sold 36% Of Their Holding1 month ago | Simply Wall St
Be Sure To Check Out M&T Bank Corporation (NYSE:MTB) Before It Goes Ex-DividendValuation
Is M&T Bank undervalued compared to its fair value and its price relative to the market?
36.0%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MTB ($100.59) is trading below our estimate of fair value ($157.26)
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 (8.1x) compared to the Banks industry average (9.4x).
PE vs Market: MTB is good value based on its PE Ratio (8.1x) compared to the US market (16.5x).
Price to Earnings Growth Ratio
PEG Ratio: MTB is poor value based on its PEG Ratio (1.3x)
Price to Book Ratio
PB vs Industry: MTB is overvalued based on its PB Ratio (0.9x) compared to the US Banks industry average (0.8x).
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?
6.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MTB's forecast earnings growth (6% per year) is above the savings rate (2.2%).
Earnings vs Market: MTB's earnings (6% per year) are forecast to grow slower than the US market (22.8% per year).
High Growth Earnings: MTB's earnings are forecast to grow, but not significantly.
Revenue vs Market: MTB's revenue is expected to decline over the next 3 years (-0.6% per year).
High Growth Revenue: MTB's revenue is forecast to decline over the next 3 years (-0.6% 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 (9.2%).
Next Steps
Past Performance
How has M&T Bank performed over the past 5 years?
14.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MTB has high quality earnings.
Growing Profit Margin: MTB's current net profit margins (28.8%) are lower than last year (33.1%).
Past Earnings Growth Analysis
Earnings Trend: MTB's earnings have grown by 14.9% per year over the past 5 years.
Accelerating Growth: MTB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MTB had negative earnings growth (-16.6%) over the past year, making it difficult to compare to the Banks industry average (1.9%).
Return on Equity
High ROE: MTB's Return on Equity (10.8%) is considered low.
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
Financial Institutions Analysis
Asset Level: MTB's Assets to Equity ratio (7.9x) is low.
Allowance for Bad Loans: MTB has a sufficient allowance for bad loans (130%).
Low Risk Liabilities: 92% of MTB's liabilities are made up of primarily low risk sources of funding.
Loan Level: MTB has an appropriate level of Loans to Assets ratio (74%).
Low Risk Deposits: MTB's Loans to Deposits ratio (92%) is appropriate.
Level of Bad Loans: MTB has an appropriate level of bad loans (1.1%).
Next Steps
Dividend
What is M&T Bank current dividend yield, its reliability and sustainability?
4.37%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MTB's dividend (4.37%) is higher than the bottom 25% of dividend payers in the US market (1.67%).
High Dividend: MTB's dividend (4.37%) is low compared to the top 25% of dividend payers in the US market (4.51%).
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 (33.9%), 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 (42.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.9yrs
Average management tenure
CEO
Ren Jones (55yo)
2.58yrs
Tenure
US$5,704,703
Compensation
Mr. René F. Jones, also known as Ren, serves as Chairman of the Board, President and Chief Executive Officer of Wilmington Trust, National Association. Mr. Jones is chief executive officer, chairman of the ...
CEO Compensation Analysis
Compensation vs Market: Ren's total compensation ($USD5.70M) is below average for companies of similar size in the US market ($USD11.50M).
Compensation vs Earnings: Ren's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 2.58yrs | US$5.70m | 0.053% $6.8m | |
| President | 2.58yrs | US$3.96m | 0.033% $4.3m | |
| Executive VP & CFO | 4.17yrs | US$2.70m | 0.037% $4.8m | |
| Vice Chairman | 2.17yrs | US$3.97m | 0.035% $4.5m | |
| Executive Vice President of Wealth & Institutional Services | 3.92yrs | US$2.53m | 0.0014% $179.4k | |
| Senior VP | no data | no data | 0.027% $3.4m | |
| Executive VP and Chief Technology & Operations Officer | 2.5yrs | no data | 0.010% $1.3m | |
| Administrative VP | no data | no data | no data | |
| Chief Regulatory Counsel & Enterprise Compliance Risk Manager | no data | no data | no data | |
| Executive VP & General Counsel | 2.92yrs | no data | 0.0016% $211.6k |
2.9yrs
Average Tenure
58yo
Average Age
Experienced Management: MTB's management team is considered experienced (2.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 2.58yrs | US$5.70m | 0.053% $6.8m | |
| President | 2.58yrs | US$3.96m | 0.033% $4.3m | |
| Vice Chairman | 2.17yrs | US$3.97m | 0.035% $4.5m | |
| Independent Director | 21.5yrs | US$180.00k | 0.061% $7.9m | |
| Vice Chairman & Lead Independent Director | 5.08yrs | US$179.00k | 0.014% $1.8m | |
| Independent Director | 19.5yrs | US$190.00k | 0.0094% $1.2m | |
| Independent Director | 11.17yrs | US$232.20k | 0.017% $2.2m | |
| Independent Director | 29.5yrs | US$184.00k | 0.011% $1.4m | |
| Independent Director | 24.5yrs | US$168.00k | 0.010% $1.3m | |
| Independent Director | 8.08yrs | US$196.00k | 0.0049% $629.7k |
9.6yrs
Average Tenure
73yo
Average Age
Experienced Board: MTB's board of directors are considered experienced (9.6 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$12.903b
- Shares outstanding: 128.27m
- 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) | 6.45%-FRN PERP USD 'E' | 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; 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, 2019, the company operates 731 domestic banking offices in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West 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 | 2020/07/02 23:53 |
| End of Day Share Price | 2020/07/02 00:00 |
| Earnings | 2020/03/31 |
| 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.