Latest revenue
$2.68B
as of 2026-03-31
Latest net income
$664.0M
as of 2026-03-31
Net margin
24.7%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $31.22B
- Enterprise value
- $46.21B
- P/E (trailing)
- 11.0×
- Forward P/E
- —
- P/B
- 1.09×
- Dividend yield
- 2.7%
- 52-wk high
- $239.00
- 52-wk low
- $174.76
- Beta
- —
- Shares out
- 146.4M
5-year trend
What this company does
M&T Bank is a regional commercial bank with $212 billion in assets, serving customers across the Northeastern and Mid-Atlantic U.S. through lending, deposits, and trust services. It earns most of its money from net interest income on loans and securities, supplemented by trust, mortgage banking, and deposit service fees. Net interest income slipped year-over-year as deposit costs surged, but the bank rebuilt capital, issued Series J preferred stock, and grew loans and deposits modestly while keeping credit losses contained.
Key risks
- Net interest income fell to $5.12B for 9M24 from $5.39B, as deposit/borrowing interest expense surged 53% to $3.20B amid higher funding costs.
- Credit quality deteriorating: provision for credit losses rose to $470M (9M24) vs $420M prior year; allowance grew to $2.20B on $135.9B loans.
- HTM securities carry $13.71B fair value vs $14.50B amortized cost — ~$794M unrealized loss not reflected in equity.
Profitability
Net margin
21.6%
12.0%Return on equity
9.8%
10.2%Return on assets
1.3%
7.4%Leverage
Debt / equity
6.36×
3.0%Long-term debt / equity
0.38×
13.4%Debt / assets
86.4%
0.4%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $2.68B | +187.9% | $664.0M | +13.7% | 24.7% |
Q4 2025 2025-12-31 | $6.70B | -41.2% | $759.0M | +11.5% | 11.3% |
Q3 2025 2025-09-30 | $2.86B | +336.7% | $792.0M | +9.8% | 27.7% |
Q2 2025 2025-06-30 | $2.74B | +344.3% | $716.0M | +9.3% | 26.2% |
Q1 2025 2025-03-31 | $932.0M | +17.7% | $584.0M | +10.0% | 62.7% |
Q4 2024 2024-12-31 | $11.39B | — | $681.0M | — | 6.0% |
Q3 2024 2024-09-30 | $654.0M | +13.3% | $721.0M | +4.5% | 110.2% |
Q2 2024 2024-06-30 | $616.0M | -24.8% | $655.0M | -24.5% | 106.3% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
State Commercial Banks · SIC 6022
Your notes
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Insider activity
Insider buying
$0
Insider selling
$24.9M
Net activity
−$24.9M
Distinct insiders
11
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns MTB
Institutional value
$12.19B
Total shares held
60.9M
Distinct holders
760
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 12.6M | $2.61B | — | New |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 9.8M | $2.02B | — | New |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 7.5M | $1.55B | — | New |
| 4 | Invesco Ltd. | 4.0M | $827.3M | — | New |
| 5 | DIMENSIONAL FUND ADVISORS LP | 1.6M | $325.8M | — | New |
| 6 | Nuveen, LLC | 1.4M | $287.6M | — | New |
| 7 | Bank of New York Mellon Corp | 1.4M | $287.2M | — | New |
| 8 | Legal & General Group Plc | 1.1M | $220.2M | — | New |
| 9 | JENNISON ASSOCIATES LLC | 975.3K | $201.6M | — | New |
| 10 | UBS Group AG | 921.1K | $190.4M | — | New |
| 11 | VANGUARD FIDUCIARY TRUST CO | 852.0K | $176.1M | — | New |
| 12 | M&T BANK CORP | 608.4K | $125.8M | — | New |
| 13 | WELLS FARGO & COMPANY/MN | 537.5K | $111.1M | — | New |
| 14 | DEUTSCHE BANK AG\ | 531.9K | $109.9M | — | New |
| 15 | Canoe Financial LP | 493.3K | $102.0M | — | New |
| 16 | Boston Partners | 468.5K | $96.9M | — | New |
| 17 | Sumitomo Mitsui Trust Group, Inc. | 421.1K | $87.0M | — | New |
| 18 | AGF MANAGEMENT LTD | 375.0K | $77.5M | — | New |
| 19 | STIFEL FINANCIAL CORP | 368.3K | $76.1M | — | New |
| 20 | Russell Investments Group, Ltd. | 364.7K | $75.2M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
NII fell to $1.73B from $1.78B YoY despite higher loan balances—when does deposit repricing stop compressing margins, and what's your exit NIM trajectory?
- 2
Provision rose to $470M YTD versus $420M, with ACL up to $2.2B—what specific CRE/office exposures are driving reserve builds and what are current criticized loan trends?
- 3
Long-term borrowings jumped $3.4B to $11.6B while time deposits fell $4.2B—is this funding mix shift structural, and what does it cost versus runoff deposits?