M&T Bank Corporation

NYSE:MTB Stock Report

Market Cap: US$35.6b

M&T Bank Valuation

Is MTB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MTB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MTB ($213.71) is trading below our estimate of fair value ($369.61)

Significantly Below Fair Value: MTB is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MTB?

Key metric: As MTB is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MTB. This is calculated by dividing MTB's market cap by their current earnings.
What is MTB's PE Ratio?
PE Ratio15.7x
EarningsUS$2.26b
Market CapUS$35.64b

Price to Earnings Ratio vs Peers

How does MTB's PE Ratio compare to its peers?

The above table shows the PE ratio for MTB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.5x
HBAN Huntington Bancshares
16.8x15.4%US$25.9b
RF Regions Financial
14.6x12.6%US$23.9b
CFG Citizens Financial Group
17.4x21.6%US$20.5b
EWBC East West Bancorp
13x6.3%US$14.4b
MTB M&T Bank
15.7x6.7%US$35.6b

Price-To-Earnings vs Peers: MTB is expensive based on its Price-To-Earnings Ratio (15.7x) compared to the peer average (15.5x).

Price to Earnings Ratio vs Industry

How does MTB's PE Ratio compare vs other companies in the US Banks Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FRCB First Republic Bank
0.02xn/aUS$27.98m
BKGM BankGuam Holding
1xn/aUS$18.48m
SBNY Signature Bank
0.002xn/aUS$2.18m
BCBH.F Caribbean Investment Holdings
0.00001xn/aUS$132.00
No more companies available in this PE range
MTB 15.7xIndustry Avg. 12.8xNo. of Companies78PE0612182430+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MTB is expensive based on its Price-To-Earnings Ratio (15.7x) compared to the US Banks industry average (12.8x).

Price to Earnings Ratio vs Fair Ratio

What is MTB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MTB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.7x
Fair PE Ratio16.1x

Price-To-Earnings vs Fair Ratio: MTB is good value based on its Price-To-Earnings Ratio (15.7x) compared to the estimated Fair Price-To-Earnings Ratio (16.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MTB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$213.71
US$216.05
+1.1%
9.6%US$269.00US$170.00n/a19
Nov ’25US$192.25
US$206.51
+7.4%
9.9%US$240.00US$158.21n/a20
Oct ’25US$172.72
US$185.22
+7.2%
8.9%US$220.00US$158.21n/a19
Sep ’25US$172.11
US$182.06
+5.8%
8.1%US$220.00US$158.21n/a20
Aug ’25US$166.85
US$180.36
+8.1%
6.8%US$208.00US$158.21n/a20
Jul ’25US$149.82
US$166.46
+11.1%
6.0%US$182.00US$150.00n/a20
Jun ’25US$151.60
US$164.11
+8.3%
6.3%US$180.00US$150.00n/a20
May ’25US$146.13
US$162.09
+10.9%
6.7%US$180.00US$139.60n/a21
Apr ’25US$143.22
US$159.59
+11.4%
6.8%US$180.00US$139.60n/a21
Mar ’25US$136.91
US$157.50
+15.0%
6.5%US$180.00US$139.60n/a21
Feb ’25US$131.73
US$156.45
+18.8%
5.7%US$180.00US$139.60n/a21
Jan ’25US$137.08
US$150.51
+9.8%
8.5%US$180.00US$121.00n/a21
Dec ’24US$132.71
US$145.36
+9.5%
8.8%US$180.00US$121.00n/a21
Nov ’24US$112.13
US$145.63
+29.9%
8.6%US$180.00US$121.00US$192.2521
Oct ’24US$126.45
US$148.16
+17.2%
7.4%US$180.00US$133.65US$172.7221
Sep ’24US$125.76
US$152.26
+21.1%
7.6%US$180.00US$136.00US$172.1121
Aug ’24US$138.70
US$151.36
+9.1%
7.5%US$180.00US$136.00US$166.8521
Jul ’24US$123.76
US$149.46
+20.8%
10.0%US$190.00US$126.00US$149.8221
Jun ’24US$121.30
US$151.98
+25.3%
10.1%US$190.00US$126.00US$151.6021
May ’24US$121.69
US$151.98
+24.9%
9.9%US$190.00US$126.00US$146.1321
Apr ’24US$119.57
US$169.34
+41.6%
9.2%US$212.00US$150.00US$143.2220
Mar ’24US$154.18
US$175.61
+13.9%
7.3%US$212.00US$160.00US$136.9121
Feb ’24US$154.40
US$175.23
+13.5%
8.6%US$212.00US$160.00US$131.7321
Jan ’24US$145.06
US$189.52
+30.6%
13.3%US$255.00US$153.00US$137.0821
Dec ’23US$168.32
US$196.74
+16.9%
11.0%US$255.00US$170.00US$132.7120
Nov ’23US$168.10
US$194.29
+15.6%
13.4%US$255.00US$127.70US$112.1320

Analyst Forecast: Target price is less than 20% higher than the current share price.

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