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Buffalo, New York-based M&T Bank Corporation (MTB) operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services. Valued at $31.8 billion by market cap, the company offers a wide range of financial services, including commercial banking, mortgage finance, trust, wealth management, and investment services to their customers.
Shares of this leading regional bank have outperformed the broader market over the past year. MTB has gained 39.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 17.6%. In 2025, MTB stock is up 2.6%, surpassing SPX’s 1.7% rise on a YTD basis.
Zooming in further, MTB’s outperformance is also apparent compared to iShares U.S. Regional Banks ETF (IAT). The exchange-traded fund has gained about 25.6% over the past year. Moreover, MTB’s single-digit returns on a YTD basis outshine the ETF’s marginal losses over the same time frame.
MTB’s strong performance is driven by growth in loans, leases, and non-interest income, alongside a decline in expenses and provisions for credit losses. Additionally, the rise in trust income, service charges on deposit accounts, mortgage banking revenues, and other operational earnings has further fueled this momentum. Moreover, MTB’s improving capital position is expected to provide a solid foundation in the long run.
On Jan. 16, MTB shares closed down more than 2% after reporting its Q4 results. Its adjusted EPS came in at $3.92, up 39.5% from the year-ago quarter. The company’s net interest income stood at $1.7 billion, up marginally year over year.
For fiscal 2025, ending in December, analysts expect MTB’s EPS to grow 11.4% to $16.57 on a diluted basis. The company’s earnings surprise history is mixed. It beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.
Among the 19 analysts covering MTB stock, the consensus is a “Moderate Buy.” That’s based on nine “Strong Buy” ratings, one “Moderate Buy,” eight “Holds,” and one “Strong Sell.”
This configuration is less bullish than three months ago, with 10 analysts suggesting a “Strong Buy.”
On Feb. 20, Barclays PLC (BCS) analyst Jason Goldberg maintained a “Hold” rating on MTB with a price target of $235, implying a potential upside of 21.8% from current levels.
The mean price target of $226.29 represents a 17.3% premium to MTB’s current price levels. The Street-high price target of $269 suggests an ambitious upside potential of 39.5%.
