, /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE: MTB) will participate in the BancAnalysts Association of Boston Conference being held in Boston, MA. Representatives of M&T are scheduled to deliver a presentation to investors and analysts on November 5, 2026, at 11:10 a.m. (ET).
A link to the webcast will be available at https://ir.mtb.com/events-presentations. The webcast may contain material information as well as forward-looking information, and cautionary statements regarding such forward-looking information will be available on the webcast link.
About M&T
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
For more information on M&T Bank, visit www.mtb.com.
M&T Bank Strengthens Commitment to Connecticut with Expanded UConn Partnership and Gampel Pavilion Naming RightsPR NewswireSTORRS, Conn., Oct. 21, 2026UConn bas
UConn basketball venue to become 'M&T Bank Center at Gampel Pavilion'
under new, multi-year agreement
STORRS, Conn., /PRNewswire/ -- M&T Bank (NYSE: MTB) today announced the expansion of their strategic partnership with the University of Connecticut. As the official bank of the University and the UConn Huskies, the evolution of the partnership will include multi-year naming rights for Gampel Pavilion, one of the most iconic venues in college athletics. Under the agreement, the arena will be renamed as M&T Bank Center at Gampel Pavilion.
With more than 100 branches in Connecticut, M&T Bank has long prioritized strengthening the communities it serves. This collaboration with UConn builds on that legacy, reflecting M&T's commitment to education and community investment, both in Connecticut and across its footprint.
"This partnership with UConn represents more than a sponsorship and a name on a building, it's a shared commitment to the future of education, economic mobility and civic leadership across our region. Gampel Pavilion is one of the most recognizable and meaningful gathering places in Connecticut, and M&T is honored to now be a part of the legacy made possible by Harry A. Gampel," said Michael Weinstock, M&T Bank's Regional President in Hartford. "For generations, Gampel has been home to some of the defining moments in UConn athletics and a source of connection and pride for communities across Connecticut. We're proud to stand alongside Connecticut's flagship university, and one of its most respected institutions, to invest in programs and in an arena that create lasting impact for students, families and communities."
"Our partnership with M&T Bank has had an immediate and lasting impact across all of our campuses and communities. This agreement continues and enhances that relationship, benefitting UConn and the state for many years to come," said University of Connecticut president Radenka Maric. "Thanks to the support and investment of the General Assembly and Gov. Ned Lamont, the improvements currently underway at Gampel Pavilion will bring that iconic venue into the next generation and provide an unparalleled fan experience. M&T Bank's commitment to UConn builds on those investments and will also help expand educational opportunities and promote holistic student success across our institution."
"Part of what makes UConn the Basketball Capital of the World is the incredible home court advantage our teams enjoy while playing on campus," said UConn Director of Athletics David Benedict. "So many great memories and moments have been made over the last 36 years in the arena that Harry A. Gampel originally made possible. We are grateful to our partners at M&T Bank for their ongoing commitment to our mission for excellence and thrilled to attach M&T Bank's name to our basketball home with the introduction of M&T Bank Center at Gampel Pavilion. In this ever-changing landscape of collegiate athletics, the investment from our state and support from M&T Bank will help ensure the continued success that we have all enjoyed over the years."
In addition to naming rights at Gampel Pavilion, the broader multimillion-dollar partnership will support academic and athletic priorities aligned with UConn's mission as a renowned public research university with regional and national reach. This will help UConn expand educational opportunities, invest in student achievement and strengthen the University's impact across Connecticut and New England. The partnership will also include investments in Connecticut-focused, co-branded activations and community engagements, which will include retail bank promotions, paid advertising, digital media inclusion and other initiatives.
As the Official Bank of UConn, M&T Bank will receive several exclusive rights, including:
Exclusive university-wide banking sponsorship, including all campuses and schools
Designation as the official banking partner of the UConn Huskies
Support for student-athletes in Name, Image and Likeness opportunities
Sponsorship of key university-wide events
Co-branded affinity credit card and commercial cards for customers of the bank
The partnership builds on M&T Bank's broader banking relationship with UConn and UConn Athletics and reflects a shared commitment to Connecticut, higher education, athletics and community engagement.
Since opening in 1990, Gampel Pavilion has served as the home of UConn basketball and a central gathering place for the university community. The arena has hosted championship teams, nationally televised matchups, commencement ceremonies, concerts, community events and remains one of the most storied facilities in collegiate athletics.
M&T Bank has maintained a leading presence in Connecticut serving consumers, businesses, municipalities and nonprofit organizations. The bank has consistently invested in initiatives focused on economic development, education, neighborhood revitalization and financial empowerment throughout the state's communities.
Additional Quotes:
"For several decades, Gampel Pavilion has been home to two of the best basketball programs in the world," said Connecticut Governor Ned Lamont. "The state investments we've recently released to commence a long-overdue renovation of this arena will ensure that our UConn Huskies have access to the first-class facilities that support these athletic programs and the entire university for many decades to come. UConn is one of the best schools in the country, and these improvements on the Storrs campus support our overall commitment to strengthening Connecticut's higher education system."
"One of the foundations of a successful athletic program is the ability to get buy-in and investments from partners that directly benefit from UConn and UConn Athletics," said UConn head women's basketball coach Geno Auriemma. "In Connecticut, M&T Bank has really stepped up in a big way. These are the kinds of things that allow us to not just compete, but to win at the highest levels. I'm excited about it, I think it is going to be a tremendous partnership for a long time. I hope it's an example to others to want to join."
"It's never been more critical for our success to have incredible partnerships like M&T Bank," said UConn head men's basketball coach Dan Hurley. "Their support and investment into our programs will help fuel the championship-level efforts that Gampel Pavilion has been known for over the last 36 years."
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information on M&T Bank, visit www.mtb.com.
M&T Media Contacts:
Kathy Curran
(617) 251-0274
[email protected]
Deanna Meservey
(617) 290-1155
[email protected]
National and Trade Media:
Frank Lentini
(929) 651-0447
[email protected]
On its third-quarter 2026 earnings call, held on Oct. 16, 2026, M&T Bank (MTB -0.99%) reported that year-to-date net operating earnings per share increased 17% over the prior year. The bank continues to expand its deposit base to fund loan growth. That internal capital generation gives it flexibility to absorb regulatory shifts without diluting shareholder value. Three takeaways from management's presentation highlight how the business is positioning itself for long-term compounding.
1. Transferring Securities Protects Capital from Regulatory ChangesManagement transferred $8.3 billion of residential mortgage-backed securities from available-for-sale, which are investments sold before maturity, to held-to-maturity to insulate tangible capital from accumulated other comprehensive income, or unrealized paper losses. That move shields regulatory capital ratios if proposed bank rules begin counting paper portfolio losses against equity reserves.
That action reflects our continued discipline to protecting tangible capital and positioning us well with potential regulatory framework that includes AFS related AOCI and regulatory capital.
-- Daryl Bible, Senior Executive Vice President and Chief Financial Officer2. Customer Deposit Growth Replaces Costly Wholesale BorrowingsExpanding customer deposits allowed M&T Bank to lower its reliance on average short-term wholesale borrowings by $2.8 billion during the quarter. Funding loan growth through primary operating accounts keeps deposit costs manageable while preserving net interest margin, which measures the profit spread on lending.
But first and foremost, we're going to try to fund our loan growth with our deposit growth.
-- Daryl Bible, Senior Executive Vice President and Chief Financial Officer3. Underwriting Structure Takes Priority Over Aggressive Loan PricingDespite competitive pressures in commercial real estate and business lending, management refuses to compromise on credit deal terms to chase volume. Maintaining strict loan covenants and structural protections ensures credit quality remains durable across economic cycles, even if loan growth might slow.
We don't want to sacrifice on structure is really what's important to us, and that's something that we aren't going to change from that perspective.
-- Daryl Bible, Senior Executive Vice President and Chief Financial OfficerLooking AheadAsset repricing across fixed-rate loans and the investment portfolio provides ongoing revenue support. Strong customer relationships and deep market roots enable the bank to maintain underwriting standards without sacrificing market share.
I feel very optimistic on the outlook for net interest income and net interest margin.
-- Daryl Bible, Senior Executive Vice President and Chief Financial OfficerLong-term performance hinges on maintaining pricing discipline and optimizing funding costs across economic shifts. Management remains committed to generating attractive returns through prudent capital deployment.
The strength and diversification of M&T's balance sheet, asset quality, and revenue will continue to allow M&T to outperform consistently across cycles.
-- Daryl Bible, Senior Executive Vice President and Chief Financial OfficerThe Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of USB either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Key Takeaways MTB shares fell nearly 1.2% despite Q3'26 EPS of $5.08, beating estimates of $4.98.MTB's NII rose 1.8% year over year to $1.81 billion, while loans grew 1.6% sequentially to $144.8 billion.MTB's non-interest income fell 1.2% year over year, while expenses rose 2.2% to $1.39 billion. Shares of M&T Bank Corporation (MTB - Free Report) declined nearly 1.2% in the early trading session despite the company's better-than-expected third-quarter 2026 results. It reported third-quarter net operating earnings per share of $5.08, which beat the Zacks Consensus Estimate of $4.98. The bottom line compared favorably with earnings of $4.87 in the year-ago quarter.
Results were aided by higher net interest income (NII) and loan growth. However, lower non-interest income and higher expenses, along with a sequential decline in deposits, acted as headwinds.
Net income available to common shareholders was $732 million, down 2.9% from the prior-year quarter.
M&T Bank’s Revenues & Expenses Rise Y/YMTB’s quarterly revenues were $2.55 billion, surpassing the Zacks Consensus Estimate of $2.54 billion. The reported figure increased nearly 1% year over year on a GAAP basis.
NII (tax-equivalent) rose 1.8% year over year to $1.81 billion. The increase reflected lower rates paid on average interest-bearing deposits and growth in average loans and investment securities, partially offset by lower yields received on loans.
Total non-interest income was $743 million, down 1.2% year over year. The decline was driven by lower capital markets and advisory revenues, and other revenues from operations. However, higher trust and investment services income, mortgage banking revenues, service charges on deposit accounts and letter of credit and credit-related fees partially offset the decline.
Total non-interest expenses were $1.39 billion, up 2.2% year over year. The increase was due to higher outside data processing and software costs, professional and other services costs, FDIC assessments and advertising and marketing expenses.
The efficiency ratio was 54.4%, up from 53.6% in the year-earlier quarter. A higher ratio indicates a decline in profitability.
MTB’s Loan Balances Increase & Deposits DeclineTotal loans were $144.8 billion as of Sept. 30, 2026, up 1.6% from the prior quarter. Total deposits declined nearly 1% to $167.5 billion on a sequential basis.
M&T Bank’s Credit Quality ImprovesNet charge-offs decreased 13% to $127 million from the prior-year quarter.
The company recorded a provision for credit losses of $135 million, up 8% from the year-ago quarter.
Non-performing assets declined 14.4% year over year to $1.33 billion.
The ratio of non-accrual loans to total loans was 0.90%, which declined year over year from 1.11%.
MTB’s Capital Position Mixed & Profitability Ratios Decline Y/YM&T Bank’s estimated Common Equity Tier 1 ratio was 10.16%, down from 10.99% as of third-quarter 2025. The tangible equity per share was $115.88, up from $115.31 in the third quarter of 2025.
The company's return on average tangible assets (annualized) and average tangible common shareholder equity were 1.47% and 17.29%, respectively, compared with 1.56% and 17.13% in the prior-year quarter.
M&T Bank’s Capital Distribution UpdateMTB repurchased 1.3 million shares of its common stock for $323 million in the third quarter of 2026.
MTB’s Q4 2026 OutlookFor the fourth quarter of 2026, M&T Bank expects taxable-equivalent NII of $1.83-$1.85 billion, with the net interest margin projected in the mid-3.60% range. The outlook reflects one additional rate increase in the fourth quarter.
Fee income is projected to be between $710 million and $730 million.
GAAP expenses, including intangible amortization, are anticipated to be between $1.39 billion and $1.41 billion. Net charge-offs are projected to be between 35 and 40 basis points of average loans, while the tax rate (taxable-equivalent) is expected to be approximately 24%.
Average loans, including loans held for sale, are expected to be between $145 billion and $146 billion, supported by growth in commercial and industrial, commercial real estate and consumer loans. Average deposits are anticipated to be between $169 billion and $170 billion.
The CET1 capital ratio is expected to be 10-10.25%.
Our View on MTBGrowth in NII, average loans and deposits is supporting M&T Bank’s performance. Lower year-over-year net charge-offs, improving asset quality metrics and higher return on average tangible common equity are encouraging. However, higher expenses, lower non-interest income and an increase in the efficiency ratio remain concerns.
M&T Bank Corporation Price, Consensus and EPS SurpriseCurrently, M&T Bank carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Release Dates of Other Banks
Fifth Third Bancorp (FITB - Free Report) is scheduled to release third-quarter 2026 earnings on Oct. 19.
The Zacks Consensus Estimate for FITB’s quarterly earnings has been unchanged at $1.09 per share over the past seven days. This indicates a 17.2% rise from the prior-year reported number.
BOK Financial Corporation (BOKF - Free Report) is also slated to report third-quarter 2026 results on Oct. 19.
Over the past seven days, the Zacks Consensus Estimate for BOKF’s quarterly earnings has been unchanged at $2.54 per share. This implies a 14.4% rise from the prior-year reported number.
M&T Bank Corporation is upgraded to a Buy after a recent pullback and solid Q3 results, despite ongoing margin pressures. MTB's credit quality remains resilient, with net charge-offs at 35bps and adequate reserves covering nonaccruals 1.7x. Deposit growth accelerated, but rising funding costs and persistent AI-driven cash sorting fears are expected to limit near-term valuation.
M&T Bank Corporation (MTB - Free Report) reported $2.55 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 1.4%. EPS of $5.08 for the same period compares to $4.87 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.54 billion, representing a surprise of +0.51%. The company delivered an EPS surprise of +2.01%, with the consensus EPS estimate being $4.98.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how M&T Bank performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 54.4% compared to the 54.6% average estimate based on four analysts.Net charge-offs to average total net loans: 0.4% versus the four-analyst average estimate of 0.4%.Average Balance - Total earning assets: $196.74 billion compared to the $197.19 billion average estimate based on three analysts.Tier 1 Capital Ratio: 11.9% versus the two-analyst average estimate of 11.8%.Net interest margin: 3.7% compared to the 3.7% average estimate based on two analysts.Trust income: $230 million versus the four-analyst average estimate of $225.98 million.Total other income: $743 million compared to the $712.12 million average estimate based on four analysts.Mortgage banking revenues: $152 million versus the four-analyst average estimate of $143.89 million.Service charges on deposit accounts: $109 million versus $118.61 million estimated by four analysts on average.Net interest income - taxable-equivalent: $1.81 billion versus $1.83 billion estimated by four analysts on average.Other revenues from operations: $85 million compared to the $107.5 million average estimate based on two analysts.Net Interest Income: $1.79 billion versus the two-analyst average estimate of $1.81 billion.View all Key Company Metrics for M&T Bank here>>>
Shares of M&T Bank have returned -3.4% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Banks Are Buying Back Stock Hand Over Fist, Including These 3 NamesM&T Bank NYSE: MTB reported third-quarter 2026 net income of $775 million, or $5.04 per diluted share on a GAAP basis, compared with $818 million, or $5.32 per share, in the prior quarter. Net operating income totaled $780 million, or $5.08 per diluted share, versus $823 million, or $5.35 per share, in the linked quarter.
Chief Financial Officer Daryl Bible said the bank’s results reflected loan and deposit growth, stable net interest income and continued capital generation. The company reported a return on assets of 1.4% and return on common equity of 11.44%. On a net operating basis, return on tangible assets was 1.47% and return on tangible common equity was 17.29%.
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Banking and trucking: Is the economy rolling toward troubles?Year-to-date net operating earnings per share rose 17% from the comparable 2025 period, Bible said.
Loans and Deposits Rise
Average loans held for investment increased $2.6 billion, or 2%, from the second quarter to $143.3 billion. Commercial real estate lending was a major contributor, with average CRE loans rising $1.6 billion, or 7%, to $24.9 billion. Consumer loans increased $600 million, or 2%, to $27.3 billion, driven by recreational finance and home-equity line-of-credit portfolios.
Challenges Loom for Regional Banks as Interest Rates SurgeAverage residential mortgage loans rose $400 million to $25.2 billion. Commercial and industrial loans were essentially unchanged at $65.9 billion, as growth in institutional CRE lending was offset by lower dealer commercial services balances.
Bible said the bank expects modest fourth-quarter loan growth, with average loans projected to reach $145 billion to $146 billion. The outlook calls for growth across C&I, CRE and consumer portfolios.
Average deposits increased $3.3 billion to $166.8 billion during the quarter. Interest-bearing deposits rose $3.5 billion to $123.1 billion, led by commercial mortgage, business banking and time deposits. Noninterest-bearing deposits declined $256 million to $43.7 billion, primarily because of lower trust demand deposits.
The deposit growth allowed M&T to reduce average short-term borrowings by $2.8 billion to $5.2 billion. Bible told analysts that the bank remains focused on obtaining operating accounts and funding loan growth primarily through deposits, while retaining access to term funding if needed.
Margin Holds as Funding Costs Increase
Taxable-equivalent net interest income was largely unchanged from the prior quarter at $1.8 billion. Net interest margin declined 5 basis points sequentially to 3.65%, reflecting lower non-accrual interest income and higher funding costs, partly offset by earning-asset growth and fixed-asset repricing.
Loan yields declined 3 basis points to 5.86%. Third-quarter results included a $15 million reduction in interest income on commercial loans that had previously been in non-accrual status.
Interest-bearing deposit costs rose 10 basis points to 2.05%. Bible said four basis points of the increase came from time deposits added through a promotional offering late in the second quarter and early in the third quarter. Two basis points were tied to the September rate increase, while the remainder reflected repricing and growth in other interest-bearing deposit categories.
For the fourth quarter, M&T expects taxable-equivalent net interest income of $1.83 billion to $1.85 billion and a net interest margin in the mid-3.60% range. The forecast assumes one rate increase in December.
Fee Income, Expenses and Credit Trends
Noninterest income increased to $743 million from $740 million in the second quarter. Mortgage banking revenue rose $25 million to $152 million, driven largely by a $23 million increase in residential mortgage revenue tied to higher servicing-fee income. The bank added $63 billion of sub-servicing balances in June.
Trust and investment services revenue declined $5 million to $230 million, largely due to seasonal tax-preparation fees recognized in the second quarter. Capital markets and advisory revenue fell $9 million to $32 million because of lower commercial customer interest-rate swap transactions and lower loan syndication activity.
Noninterest expenses rose $44 million sequentially to $1.39 billion. The increase included higher data processing, software and professional-services costs related to software maintenance, technology infrastructure enhancements and enterprise initiatives. The efficiency ratio rose to 54.4% from 52.8% in the prior quarter, though the year-to-date ratio improved to 55.1% from 56.3% a year earlier.
Asset quality remained relatively stable, according to Bible. Criticized loans increased $245 million to $6.1 billion, led by C&I balances. Non-accrual loans increased $90 million to $1.3 billion, with the non-accrual ratio rising 5 basis points to 0.90%. The increase was mostly related to commercial office and assisted-living credits.
Net charge-offs totaled $127 million, or 35 basis points, and the provision for credit losses was $135 million. The allowance for loan losses declined 2 basis points to 1.51% of total loans. M&T expects fourth-quarter net charge-offs of 35 to 40 basis points.
Capital and Fourth-Quarter Outlook
M&T’s estimated common equity tier 1 ratio was 10.16% at quarter-end, down 3 basis points from the second quarter. The decline reflected $323 million of share repurchases and higher risk-weighted assets associated with loan growth, partly offset by capital generation.
The bank transferred $8.3 billion of residential mortgage-backed securities from available for sale to held to maturity, an action Bible said was intended to protect tangible capital amid potential regulatory treatment of accumulated other comprehensive income.
For the fourth quarter, M&T expects average deposits of $169 billion to $170 billion, noninterest income of $710 million to $730 million and expenses, including intangible amortization, of $1.39 billion to $1.41 billion. The bank plans to operate with a CET1 ratio between 10% and 10.25% through the remainder of the year.
About M&T Bank (NYSE:MTB)M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.
M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.
The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.
John R.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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SummaryM&T Bank Corporation delivered a solid Q3, with revenue of $2.54 billion and EPS of $5.04, both beating consensus.MTB demonstrated healthy balance sheet momentum, with average deposits up to $166.8 billion and average loans rising 2% sequentially.Net interest margin held firm at 3.65%, and asset quality improved, with nonaccrual loans dropping to 0.90% of total loans.MTB shares offer a compelling long-term dividend yield; a sub-$200 entry is favored amid sector pressure and macro uncertainty.Looking for a helping hand in the market? Members of BAD BEAT Investing get exclusive ideas and guidance to navigate any climate. Learn More » JHVEPhoto/iStock Editorial via Getty Images
In today’s column, we pick up our coverage of the regional bank Q3 earnings season with M&T Bank Corporation (MTB). Over the past several weeks, regional bank stocks have experienced notable sector pressure and
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in MTB over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
M&T Bank Corporation (MTB - Free Report) came out with quarterly earnings of $5.08 per share, beating the Zacks Consensus Estimate of $4.98 per share. This compares to earnings of $4.87 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +2.01%. A quarter ago, it was expected that this company would post earnings of $4.66 per share when it actually produced earnings of $5.35, delivering a surprise of +14.81%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
M&T Bank, which belongs to the Zacks Banks - Major Regional industry, posted revenues of $2.55 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 0.51%. This compares to year-ago revenues of $2.51 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
M&T Bank shares have added about 8.5% since the beginning of the year versus the S&P 500's gain of 13.1%.
What's Next for M&T Bank?While M&T Bank has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for M&T Bank was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $5.05 on $2.56 billion in revenues for the coming quarter and $19.42 on $10.09 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Major Regional is currently in the bottom 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Fifth Third Bancorp (FITB - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on October 19.
This company is expected to post quarterly earnings of $1.09 per share in its upcoming report, which represents a year-over-year change of +17.2%. The consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level.
Fifth Third Bancorp's revenues are expected to be $3.34 billion, up 45.3% from the year-ago quarter.
, /PRNewswire/ -- M&T Bank Corporation ("M&T" or "the Company") reports quarterly net income of $775 million or $5.04 of diluted earnings per common share.
(Dollars in millions, except per share data)
3Q26
2Q26
3Q25
Earnings Highlights
Net interest income
$ 1,793
$ 1,792
$ 1,761
Taxable-equivalent adjustment
12
12
12
Net interest income - taxable-equivalent
1,805
1,804
1,773
Provision for credit losses
135
120
125
Noninterest income
743
740
752
Noninterest expense
1,393
1,349
1,363
Net income
775
818
792
Net income available to common shareholders - diluted
732
781
754
Diluted earnings per common share
5.04
5.32
4.82
Return on average assets - annualized
1.40 %
1.51 %
1.49 %
Return on average common shareholders' equity - annualized
11.44
12.30
11.45
Average Balance Sheet
Total assets
$ 218,860
$ 216,532
$ 211,053
Interest-bearing deposits at banks
14,209
15,061
17,739
Investment securities
38,552
38,728
36,559
Loans
143,296
140,650
135,890
Deposits
166,777
163,524
162,576
Borrowings
19,225
20,794
15,633
Selected Ratios
(Amounts expressed as a percent, except per share data)
Net interest margin
3.65 %
3.70 %
3.69 %
Efficiency ratio (1)
54.4
52.8
53.6
Net charge-offs to average total loans - annualized
.35
.23
.42
Allowance for loan losses to total loans
1.51
1.53
1.59
Nonaccrual loans to total loans
.90
.85
1.11
Common equity Tier 1 ("CET1") capital ratio (2)
10.16
10.19
10.99
Common shareholders' equity per share
$ 174.95
$ 176.03
$ 170.43
____________________
(1)
A reconciliation of non-GAAP measures is included in the tables that accompany this release.
(2)
CET1 capital ratio at September 30, 2026 is estimated.
Financial Highlights
Taxable-equivalent net interest income increased nominally in the recent quarter as compared with the second quarter of 2026 reflecting an additional day, partially offset by lower interest income on nonaccrual loans.
Average loans grew $2.6 billion in the recent quarter reflecting higher average commercial real estate loan balances of $1.6 billion, consumer loan balances of $634 million and residential real estate loan balances of $367 million.
Higher noninterest income in the recent quarter reflects an increase in residential mortgage banking revenues, partially offset by a decrease in capital markets and advisory revenues and a lower distribution from M&T's investment in Bayview Lending Group LLC ("BLG").
Noninterest expense reflects increases in outside data processing and software costs and professional and other services expense as well as higher personnel costs from an additional working day in the recent quarter.
The allowance for loan losses as a percent of total loans declined 2 basis points to 1.51% at September 30, 2026.
In the recent quarter, M&T repurchased 1.3 million shares of its common stock at a total cost of $323 million. M&T's CET1 capital ratio is estimated to be 10.16% at September 30, 2026.
Chief Financial Officer Commentary
"M&T's third quarter results were highlighted by strong loan and deposit growth, stable credit and a solid capital position. Fee income in the recent quarter continues to reflect the breadth of M&T's franchise and our ability to meet customers' evolving needs through a wide range of financial capabilities. The continued strength across customer-driven revenue streams demonstrates the value of our diversified business model and the depth of our customer relationships. These relationships are at the heart of our purpose, to make a difference in people's lives. I want to thank our employees for their ongoing commitment to the communities and customers we serve."
- Daryl N. Bible, M&T's Chief Financial Officer
Contact:
Investor Relations:
Rajiv Ranjan
716.842.5138
Steve Wendelboe
716.842.5138
Media Relations:
Frank Lentini
929.651.0447
Financial Reporting Matters
As reported on M&T's Form 8-K dated September 28, 2026, effective for the third quarter of 2026 M&T made certain changes and reclassifications to Other income categories presented in its Consolidated Statement of Income. Also effective for the third quarter of 2026, M&T began separately presenting loans held for sale from loans held for investment in its Consolidated Balance Sheet and its Average Balance Sheet and Annualized Taxable-equivalent Rates disclosures. Accordingly, annualized taxable-equivalent rates for each impacted loan category and certain loan-based credit quality ratios exclude loans held for sale. Additionally, as reported in M&T's Form 10-Q for the quarter ended June 30, 2026, in conjunction with the implementation of a new general ledger platform during the second quarter of 2026, the Company modified its methodology for calculating annualized taxable-equivalent rates for certain earning assets and interest-bearing liabilities, including certain average deposit balances. All periods presented herein reflect those changes.
Non-GAAP Measures (1)
(Dollars in millions, except per share data)
3Q26
2Q26
Change
3Q26 vs.
2Q26
3Q25
Change
3Q26 vs.
3Q25
Net operating income
$ 780
$ 823
-5 %
$ 798
-2 %
Diluted net operating earnings per common share
5.08
5.35
-5
4.87
4
Annualized return on average tangible assets
1.47 %
1.59 %
1.56 %
Annualized return on average tangible common equity
17.29
18.57
17.13
Efficiency ratio
54.4
52.8
53.6
Tangible equity per common share
$ 115.88
$ 117.41
-1
$ 115.31
—
____________________
(1)
A reconciliation of non-GAAP measures is included in the tables that accompany this release.
M&T consistently provides supplemental reporting of its results on a "net operating" or "tangible" basis, from which M&T excludes the after-tax effect of amortization of core deposit and other intangible assets (and the related goodwill and core deposit and other intangible asset balances, net of applicable deferred tax amounts) and expenses associated with merging acquired operations into M&T (when incurred), since such items are considered by management to be "nonoperating" in nature.
Taxable-equivalent Net Interest Income (1)
(Dollars in millions)
3Q26
2Q26
Change
3Q26 vs.
2Q26
3Q25
Change
3Q26 vs.
3Q25
Average earning assets
$ 196,739
$ 195,216
1 %
$ 190,920
3 %
Average interest-bearing liabilities
142,294
140,354
1
134,153
6
Net interest income - taxable-equivalent
1,805
1,804
—
1,773
2
Yield on average earning assets
5.41 %
5.40 %
5.60 %
Cost of interest-bearing liabilities
2.44
2.36
2.72
Net interest spread
2.97
3.04
2.88
Net interest margin
3.65
3.70
3.69
____________________
(1)
Condensed Consolidated Average Balance Sheet and Annualized Taxable-equivalent Rates are included in the accompanying table herein.
Taxable-equivalent net interest income in the recent quarter rose nominally from the second quarter of 2026 reflecting an additional day, lower interest income on nonaccrual loans and loan growth funded by interest-bearing deposits as the Company reduced its average short-term borrowings. Taxable-equivalent net interest income increased $32 million, or 2%, as compared with the year-earlier third quarter reflecting lower rates paid on average interest-bearing deposits and growth in average loans and investment securities, partially offset by lower yields received on loans.
Average Earning Assets
(Dollars in millions)
3Q26
2Q26
Change
3Q26 vs.
2Q26
3Q25
Change
3Q26 vs.
3Q25
Interest-bearing deposits at banks
$ 14,209
$ 15,061
-6 %
$ 17,739
-20 %
Investment securities
38,552
38,728
—
36,559
5
Loans held for sale
682
777
-12
637
7
Loans: (1)
Commercial and industrial
65,887
65,883
—
61,687
7
Real estate - commercial
24,862
23,221
7
23,982
4
Real estate - residential
25,194
24,827
1
24,122
4
Consumer
27,353
26,719
2
26,099
5
Total loans
143,296
140,650
2
135,890
5
Other
—
—
—
95
-100
Total earning assets
$ 196,739
$ 195,216
1
$ 190,920
3
____________________
(1)
Supplemental information on loan balances is included in the accompanying table herein.
Average earning assets rose $1.5 billion from the second quarter of 2026 reflecting growth in average commercial real estate loan balances of $1.6 billion, average consumer loan balances of $634 million and average residential real estate loan balances of $367 million.
Average earning assets increased $5.8 billion from the third quarter of 2025, reflecting loan growth across all loan portfolios. Average commercial and industrial loan balances increased $4.2 billion, spanning most industry types. Average consumer, residential real estate and commercial real estate loan balances grew $1.3 billion, $1.1 billion and $880 million, respectively. The average balance of investment securities increased $2.0 billion from the year-earlier quarter, reflecting purchases of fixed rate mortgage-backed securities.
Average Interest-bearing Liabilities
(Dollars in millions)
3Q26
2Q26
Change
3Q26 vs.
2Q26
3Q25
Change
3Q26 vs.
3Q25
Interest-bearing deposits:
Savings and interest-checking deposits
$ 108,013
$ 105,752
2 %
$ 104,630
3 %
Time deposits
15,056
13,808
9
13,890
8
Total interest-bearing deposits
123,069
119,560
3
118,520
4
Short-term borrowings
5,248
8,016
-35
2,844
85
Long-term borrowings
13,977
12,778
9
12,789
9
Total interest-bearing liabilities
$ 142,294
$ 140,354
1
$ 134,153
6
Average interest-bearing liabilities in the recent quarter rose $1.9 billion from the second quarter of 2026 reflecting growth in average interest-bearing deposits of $3.5 billion and higher average long-term borrowings resulting from asset securitizations and issuances of senior and subordinated notes. Those increases were partially offset by a $2.9 billion decline in average short-term borrowings from the FHLB of New York.
Average interest-bearing liabilities increased $8.1 billion from the third quarter of 2025 reflecting growth in average interest-bearing deposits of $4.5 billion, higher average short-term borrowings from the FHLB of New York of $1.9 billion and an increase in average long-term borrowings of $1.2 billion resulting from asset securitizations and issuances of subordinated notes, partially offset by net maturities of senior notes.
Provision for Credit Losses/Asset Quality
(Dollars in millions)
3Q26
2Q26
Change
3Q26 vs.
2Q26
3Q25
Change
3Q26 vs.
3Q25
At end of quarter
Nonaccrual loans
$ 1,298
$ 1,208
7 %
$ 1,512
-14 %
Real estate and other foreclosed assets
28
23
22
37
-26
Total nonperforming assets
1,326
1,231
8
1,549
-14
Accruing loans past due 90 days or more (1)
570
603
-5
432
32
Nonaccrual loans as % of loans outstanding
.90 %
.85 %
1.11 %
Allowance for loan losses
$ 2,179
$ 2,176
—
$ 2,161
1
Allowance for loan losses as % of loans outstanding
1.51 %
1.53 %
1.59 %
Reserve for unfunded credit commitments
$ 93
$ 95
-2
$ 95
-2
For the period
Provision for loan losses
$ 130
$ 120
8
$ 110
18
Provision for unfunded credit commitments
5
—
—
15
-67
Total provision for credit losses
135
120
13
125
8
Net charge-offs
127
80
59
146
-12
Net charge-offs as % of average loans (annualized)
.35 %
.23 %
.42 %
____________________
(1)
Predominantly government-guaranteed residential real estate.
The provision for credit losses was $135 million in the third quarter of 2026 as compared with $120 million in the second quarter of 2026 and $125 million in the third quarter of 2025. The allowance for loan losses as a percent of loans outstanding was 1.51% at September 30, 2026 and 1.53% at June 30, 2026, each improved from 1.59% at September 30, 2025, reflecting lower levels of criticized loans.
Nonaccrual loans were $1.3 billion at September 30, 2026 and $1.2 billion at June 30, 2026, compared with $1.5 billion at September 30, 2025. The lower level of nonaccrual loans at September 30, 2026 and June 30, 2026 as compared with September 30, 2025 reflects a decrease in commercial and industrial and commercial real estate nonaccrual loans.
Noninterest Income
(Dollars in millions)
3Q26
2Q26
Change
3Q26 vs.
2Q26
3Q25
Change
3Q26 vs.
3Q25
Trust and investment services income
$ 230
$ 235
-2 %
$ 217
6 %
Mortgage banking revenues (1)
152
127
19
147
3
Service charges on deposit accounts
109
107
1
105
3
Card revenues
90
89
2
90
—
Letter of credit and credit-related fees
46
44
4
45
3
Capital markets and advisory revenues
32
41
-24
35
-8
Gain (loss) on bank investment securities
(1)
2
—
1
—
Other revenues from operations (2)
85
95
-12
112
-25
Total
$ 743
$ 740
—
$ 752
-1
____________________
(1)
Supplemental information on mortgage banking activities is included in the accompanying table herein.
(2)
Supplemental information on other revenues from operations is included in the accompanying table herein.
Effective January 1, 2026, the Company elected to prospectively measure its residential mortgage loan servicing right assets at fair value with changes in fair value reflected in mortgage banking revenues. As a result, amortization associated with residential mortgage loan servicing right assets previously recognized in other costs of operations before 2026 is no longer recorded. Instead, beginning in 2026 fair value changes in residential mortgage loan servicing right assets, inclusive of the realization of expected net servicing revenues over time, are included in mortgage banking revenues. On December 31, 2025, the Company began economically hedging the risk of fair value changes in these assets through the use of various interest rate derivative contracts, for which changes in fair value are also reflected in mortgage banking revenues.
Noninterest income in the third quarter of 2026 increased $3 million from 2026's second quarter.
Trust and investment services income declined $5 million reflecting seasonal tax services fees earned by the wealth management business in the second quarter of 2026.
Mortgage banking revenues increased $25 million reflecting a rise in residential mortgage loan sub-servicing income. In June 2026, the Company began sub-servicing $62.9 billion of additional residential mortgage loans.
Capital markets and advisory revenues decreased $9 million reflecting a decline in loan syndication fees and lower revenues from interest rate swap transactions with commercial customers.
Other revenues from operations decreased $10 million reflecting a lower distribution from M&T's investment in BLG in the recent quarter.
Noninterest income declined $9 million, or 1%, as compared with the third quarter of 2025.
Trust and investment services income rose $13 million reflecting higher corporate trust revenues from the Company's institutional services business and an increase in personal trust and investment services revenues from its wealth management businesses.
Mortgage banking revenues increased $5 million reflecting a rise in residential mortgage loan sub-servicing income, partially offset by the impact of the Company's fair value accounting election described above and lower gains on commercial mortgage loans originated for sale.
Other revenues from operations decreased $27 million reflecting a $28 million distribution of an earnout payment from the Company's 2023 sale of its Collective Investment Trust ("CIT") business and a $12 million gain on the sale of equipment leases each in the third quarter of 2025, partially offset by an $11 million higher distribution from M&T's investment in BLG in the recent quarter.
Noninterest Expense
(Dollars in millions)
3Q26
2Q26
Change
3Q26 vs.
2Q26
3Q25
Change
3Q26 vs.
3Q25
Salaries and employee benefits
$ 832
$ 826
1 %
$ 833
— %
Outside data processing and software
173
154
12
138
25
Equipment and net occupancy
131
129
—
129
1
Professional and other services
97
89
10
81
22
FDIC assessments
19
18
15
13
55
Advertising and marketing
29
27
7
23
26
Amortization of core deposit and other intangible assets
7
7
—
10
-27
Other costs of operations
105
99
6
136
-23
Total
$ 1,393
$ 1,349
3
$ 1,363
2
Noninterest expense rose $44 million, or 3%, from the second quarter of 2026.
Salaries and employee benefits expense increased $6 million reflecting an additional working day in the recent quarter, partially offset by lower payroll-related taxes.
Outside data processing and software costs increased $19 million reflecting higher software maintenance and enhancements to the Company's technology infrastructure.
Professional and other services rose $8 million reflecting support for enhancements to the Company's technology infrastructure and other enterprise initiatives.
Other costs of operations increased $6 million reflecting the Company's obligation under agreements to share in losses stemming from certain litigation of Visa, Inc.
Noninterest expense increased $30 million, or 2%, from the third quarter of 2025.
Outside data processing and software costs rose $35 million reflecting costs associated with enhancements to the Company's technology infrastructure.
Professional and other services increased $16 million reflecting support for enhancements to the Company's technology infrastructure and other enterprise initiatives and higher legal service costs.
FDIC assessments were $6 million higher in the recent quarter reflecting the reduction of estimated special assessment expense in the third quarter of 2025 resulting from a decrease in the FDIC's loss estimates associated with certain failed banks.
Other costs of operations decreased $31 million reflecting the amortization associated with residential mortgage loan servicing right assets in the third quarter of 2025 and lower expense associated with the Company's supplemental executive retirement savings plan in the recent quarter.
Income Taxes
The Company's effective income tax rate was 23.1% in each of the third and second quarters of 2026 compared with 22.8% in the third quarter of 2025.
Capital and Liquidity
3Q26
2Q26
3Q25
CET1 capital
10.16 %
(1)
10.19 %
10.99 %
Tier 1 capital
11.93
(1)
11.64
12.49
Total capital
13.93
(1)
13.73
14.35
Tangible capital – common
7.85
8.07
8.79
____________________
(1)
Capital ratios at September 30, 2026 are estimated.
M&T's capital ratios remained well above the minimum set forth by regulatory requirements. Cash dividends declared on M&T's common and preferred stock totaled $217 million and $42 million, respectively, for the quarter ended September 30, 2026. M&T's current stress capital buffer is 2.7%.
Reflecting rising interest rates, accumulated other comprehensive income declined $588 million in the recent quarter. In July 2026, the Company transferred $8.3 billion of residential mortgage-backed securities from the available-for-sale portfolio to the held-to-maturity portfolio with net unrealized gains of $8 million. Unrealized losses on those transferred securities at September 30, 2026 were $222 million ($165 million net of tax).
M&T repurchased shares of its common stock at a cost of $323 million during the recent quarter, compared with $465 million and $409 million in the second quarter of 2026 and the third quarter of 2025, respectively.
The CET1 capital ratio for M&T was estimated at 10.16% as of September 30, 2026. M&T's total risk-weighted assets at September 30, 2026 are estimated to be $170.6 billion. Reflecting loan growth and share repurchase activity in the recent quarter and the impact of unrealized losses on investment securities available for sale included in accumulated other comprehensive income at September 30, 2026, M&T's tangible common equity to tangible asset ratio at September 30, 2026 declined 22 basis points from June 30, 2026 and 94 basis points from September 30, 2025.
While not subject to the liquidity coverage ratio ("LCR") requirements, M&T estimates that its LCR on September 30, 2026 was 107%, exceeding the regulatory minimum standards that would be applicable if it were a Category III institution subject to the Category III reduced LCR requirements.
Conference Call
Investors will have an opportunity to listen to M&T's conference call to discuss third quarter financial results today at 8:00 a.m. Eastern Time. Those wishing to participate in the call may dial (800) 347-7315. International participants, using any applicable international calling codes, may dial (785) 424-1755. Callers should reference M&T Bank Corporation or the conference ID #MTBQ326. The conference call will be webcast live through M&T's website at https://ir.mtb.com/news-events/events-presentations. A replay of the call will be available through Friday October 23, 2026, by calling (800) 839-3736 or (402) 220-2978 for international participants. No conference ID or passcode is required. The event will also be archived and available by 3:00 p.m. today on M&T's website at https://ir.mtb.com/news-events/events-presentations.
About M&T
M&T is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information on M&T Bank, visit www.mtb.com.
Forward-Looking Statements
This news release and related conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the rules and regulations of the SEC. Any statement that does not describe historical or current facts is a forward-looking statement, including statements based on current expectations, estimates and projections about M&T's business, and management's beliefs and assumptions.
Statements regarding the potential effects of events or factors specific to M&T and/or the financial industry as a whole, as well as national and global events generally, on M&T's business, financial condition, liquidity and results of operations may constitute forward-looking statements. Such statements are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond M&T's control.
Forward-looking statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "target," "estimate," "continue," or "potential," by future conditional verbs such as "will," "would," "should," "could," or "may," or by variations of such words or by similar expressions. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions which are difficult to predict and may cause actual outcomes to differ materially from what is expressed or forecasted.
While there can be no assurance that any list of risks and uncertainties is complete, important factors that could cause actual outcomes and results to differ materially from those contemplated by forward-looking statements include the following, without limitation: economic conditions and growth rates, including inflation and market volatility; events, developments and current conditions in the financial services industry, including trust, brokerage and investment management businesses; changes in interest rates, spreads on earning assets and interest-bearing liabilities, and interest rate sensitivity; prepayment speeds, loan originations, loan concentrations by type and industry, credit losses and market values on loans, collateral securing loans, and other assets; sources of liquidity; levels of client deposits; ability to contain costs and expenses; changes in M&T's credit ratings; domestic or international political developments and other geopolitical events, including trade and tariff policies and international conflicts and hostilities; changes and trends in the securities markets; common shares outstanding and common stock price volatility; fair value of and number of stock-based compensation awards to be issued in future periods; the impact of changes in market values on trust-, brokerage-, and investment management-related revenues; federal, state or local legislation and/or regulations affecting the financial services industry, or M&T and its subsidiaries individually or collectively, including tax policy; regulatory supervision and oversight, including monetary policy and capital requirements; governmental and public policy changes; political conditions, either nationally or in the states in which M&T and its subsidiaries do business; the initiation and outcome of potential, pending and future litigation, investigations and governmental proceedings, including tax-related examinations and other matters; operational risk events, including loss resulting from fraud by employees or persons outside M&T and breaches in data and cybersecurity; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board, regulatory agencies or legislation; increasing price, product and service competition by competitors, including new entrants; technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; the mix of products and services; protection and validity of intellectual property rights; reliance on large customers; technological, implementation and cost/financial risks in large, multi-year contracts; continued availability of financing; financial resources in the amounts, at the times and on the terms required to support M&T and its subsidiaries' future businesses; and material differences in the actual financial results of merger, acquisition, divestment and investment activities compared with M&T's initial expectations, including the full realization of anticipated cost savings and revenue enhancements.
These are representative of the factors that could affect the outcome of the forward-looking statements. In addition, as noted, such statements could be affected by general industry and market conditions and growth rates, general economic and political conditions, either nationally or in the states in which M&T and its subsidiaries do business, and other factors.
M&T provides further detail regarding these risks and uncertainties in its Form 10-K for the year ended December 31, 2025, including in the Risk Factors section of such report, as well as in other SEC filings. Forward-looking statements speak only as of the date they are made, and M&T assumes no duty and does not undertake to update forward-looking statements.
Financial Highlights
Three Months Ended
Nine Months Ended
September 30,
September 30,
(Dollars in millions, except per share, shares in thousands)
2026
2025
Change
2026
2025
Change
Performance
Net income
$ 775
$ 792
-2 %
$ 2,257
$ 2,092
8 %
Net income available to common shareholders
732
754
-3
2,133
1,981
8
Per common share:
Basic earnings
5.08
4.85
5
14.57
12.41
17
Diluted earnings
5.04
4.82
5
14.48
12.34
17
Cash dividends
1.50
1.50
—
4.50
4.20
7
Common shares outstanding:
Average - diluted
145,174
156,553
-7
147,329
160,503
-8
Period end
143,708
154,518
-7
143,708
154,518
-7
Return on (annualized):
Average total assets
1.40 %
1.49 %
1.39 %
1.33 %
Average common shareholders' equity
11.44
11.45
11.13
10.07
Taxable-equivalent net interest income
$ 1,805
$ 1,773
2
$ 5,372
$ 5,202
3
Yield on average earning assets
5.41 %
5.60 %
5.39 %
5.54 %
Cost of interest-bearing liabilities
2.44
2.72
2.38
2.71
Net interest spread
2.97
2.88
3.01
2.83
Contribution of interest-free funds
.68
.81
.67
.82
Net interest margin
3.65
3.69
3.68
3.65
Net charge-offs to average total net loans (annualized)
.35
.42
.30
.36
Net operating results (1)
Net operating income
$ 780
$ 798
-2
$ 2,274
$ 2,116
7
Diluted net operating earnings per common share
5.08
4.87
4
14.60
12.49
17
Return on (annualized):
Average tangible assets
1.47 %
1.56 %
1.46 %
1.41 %
Average tangible common equity
17.29
17.13
16.78
15.07
Efficiency ratio
54.4
53.6
55.1
56.3
At September 30,
Loan quality
2026
2025
Change
Nonaccrual loans
$ 1,298
$ 1,512
-14 %
Real estate and other foreclosed assets
28
37
-26
Total nonperforming assets
$ 1,326
$ 1,549
-14
Accruing loans past due 90 days or more
$ 570
$ 432
32
Government guaranteed loans included in totals above:
Nonaccrual loans
81
71
13
Accruing loans past due 90 days or more
556
403
38
Nonaccrual loans to total loans
.90 %
1.11 %
Allowance for loan losses to total loans
1.51
1.59
Additional information
Period end common stock price
$ 217.60
$ 197.62
10
Full-service domestic banking offices (2)
906
942
-4
Full-time equivalent employees
21,562
22,383
-4
____________________
(1)
Excludes amortization and balances related to goodwill and core deposit and other intangible assets and merger-related expenses which, except in the calculation of the efficiency ratio, are net of applicable income tax effects. Reconciliations of net income with net operating income appear herein.
(2)
In the first quarter of 2026, thirteen domestic banking offices formerly classified as full service were designated as limited service per regulatory filings.
Financial Highlights, Five Quarter Trend
Three Months Ended
September 30,
June 30,
March 31,
December 31,
September 30,
(Dollars in millions, except per share, shares in thousands)
2026
2026
2026
2025
2025
Performance
Net income
$ 775
$ 818
$ 664
$ 759
$ 792
Net income available to common shareholders
732
781
620
718
754
Per common share:
Basic earnings
5.08
5.35
4.16
4.71
4.85
Diluted earnings
5.04
5.32
4.13
4.67
4.82
Cash dividends
1.50
1.50
1.50
1.50
1.50
Common shares outstanding:
Average - diluted
145,174
146,758
150,109
153,712
156,553
Period end
143,708
144,933
146,917
151,840
154,518
Return on (annualized):
Average total assets
1.40 %
1.51 %
1.26 %
1.41 %
1.49 %
Average common shareholders' equity
11.44
12.30
9.67
10.87
11.45
Taxable-equivalent net interest income
$ 1,805
$ 1,804
$ 1,763
$ 1,790
$ 1,773
Yield on average earning assets
5.41 %
5.40 %
5.35 %
5.47 %
5.60 %
Cost of interest-bearing liabilities
2.44
2.36
2.32
2.52
2.72
Net interest spread
2.97
3.04
3.03
2.95
2.88
Contribution of interest-free funds
.68
.66
.67
.75
.81
Net interest margin
3.65
3.70
3.70
3.70
3.69
Net charge-offs to average total net loans (annualized)
.35
.23
.31
.54
.42
Net operating results (1)
Net operating income
$ 780
$ 823
$ 671
$ 767
$ 798
Diluted net operating earnings per common share
5.08
5.35
4.18
4.72
4.87
Return on (annualized):
Average tangible assets
1.47 %
1.59 %
1.33 %
1.49 %
1.56 %
Average tangible common equity
17.29
18.57
14.51
16.24
17.13
Efficiency ratio
54.4
52.8
58.3
55.1
53.6
September 30,
June 30,
March 31,
December 31,
September 30,
Loan quality
2026
2026
2026
2025
2025
Nonaccrual loans
$ 1,298
$ 1,208
$ 1,240
$ 1,252
$ 1,512
Real estate and other foreclosed assets
28
23
27
35
37
Total nonperforming assets
$ 1,326
$ 1,231
$ 1,267
$ 1,287
$ 1,549
Accruing loans past due 90 days or more
$ 570
$ 603
$ 646
$ 561
$ 432
Government guaranteed loans included in totals above:
Nonaccrual loans
81
78
85
83
71
Accruing loans past due 90 days or more
556
586
634
543
403
Nonaccrual loans to total loans
.90 %
.85 %
.89 %
.91 %
1.11 %
Allowance for loan losses to total loans
1.51
1.53
1.54
1.54
1.59
Additional information
Period end common stock price
$ 217.60
$ 238.01
$ 206.72
$ 201.48
$ 197.62
Full-service domestic banking offices (2)
906
911
930
942
942
Full-time equivalent employees
21,562
21,662
21,866
22,080
22,383
____________________
(1)
Excludes amortization and balances related to goodwill and core deposit and other intangible assets and merger-related expenses which, except in the calculation of the efficiency ratio, are net of applicable income tax effects. Reconciliations of net income with net operating income appear herein.
(2)
In the first quarter of 2026, thirteen domestic banking offices formerly classified as full service were designated as limited service per regulatory filings.
Condensed Consolidated Statement of Income
Three Months Ended
Nine Months Ended
September 30,
September 30,
(Dollars in millions)
2026
2025
Change
2026
2025
Change
Interest income
$ 2,667
$ 2,680
— %
$ 7,823
$ 7,849
— %
Interest expense
874
919
-5
2,486
2,680
-7
Net interest income
1,793
1,761
2
5,337
5,169
3
Provision for credit losses
135
125
8
395
380
4
Net interest income after provision for
credit losses
1,658
1,636
1
4,942
4,789
3
Other income:
Trust and investment services income
230
217
6
684
643
7
Mortgage banking revenues
152
147
3
406
395
3
Service charges on deposit accounts
109
105
3
322
307
5
Card revenues
90
90
—
257
257
—
Letter of credit and credit-related fees
46
45
3
132
132
—
Capital markets and advisory revenues
32
35
-8
109
89
23
Gain (loss) on bank investment securities
(1)
1
—
5
1
—
Other revenues from operations
85
112
-25
257
222
16
Total other income
743
752
-1
2,172
2,046
6
Other expense:
Salaries and employee benefits
832
833
—
2,572
2,533
2
Outside data processing and software
173
138
25
471
412
14
Equipment and net occupancy
131
129
1
393
391
—
Professional and other services
97
81
22
279
251
12
FDIC assessments
19
13
55
60
58
4
Advertising and marketing
29
23
26
77
70
9
Amortization of core deposit and other
intangible assets
7
10
-27
23
32
-27
Other costs of operations
105
136
-23
305
367
-17
Total other expense
1,393
1,363
2
4,180
4,114
2
Income before taxes
1,008
1,025
-2
2,934
2,721
8
Income taxes
233
233
—
677
629
8
Net income
$ 775
$ 792
-2 %
$ 2,257
$ 2,092
8 %
Condensed Consolidated Statement of Income, Five Quarter Trend
Three Months Ended
September 30,
June 30,
March 31,
December 31,
September 30,
(Dollars in millions)
2026
2026
2026
2025
2025
Interest income
$ 2,667
$ 2,620
$ 2,536
$ 2,637
$ 2,680
Interest expense
874
828
784
858
919
Net interest income
1,793
1,792
1,752
1,779
1,761
Provision for credit losses
135
120
140
125
125
Net interest income after provision for
credit losses
1,658
1,672
1,612
1,654
1,636
Other income:
Trust and investment services income
230
235
219
220
217
Mortgage banking revenues
152
127
127
155
147
Service charges on deposit accounts
109
107
106
105
105
Card revenues
90
89
78
87
90
Letter of credit and credit-related fees
46
44
42
47
45
Capital markets and advisory revenues
32
41
36
31
35
Gain (loss) on bank investment securities
(1)
2
4
1
1
Other revenues from operations
85
95
77
50
112
Total other income
743
740
689
696
752
Other expense:
Salaries and employee benefits
832
826
914
809
833
Outside data processing and software
173
154
144
146
138
Equipment and net occupancy
131
129
133
134
129
Professional and other services
97
89
93
105
81
FDIC assessments
19
18
23
(8)
13
Advertising and marketing
29
27
21
32
23
Amortization of core deposit and other
intangible assets
7
7
9
10
10
Other costs of operations
105
99
101
151
136
Total other expense
1,393
1,349
1,438
1,379
1,363
Income before taxes
1,008
1,063
863
971
1,025
Income taxes
233
245
199
212
233
Net income
$ 775
$ 818
$ 664
$ 759
$ 792
Condensed Consolidated Balance Sheet
September 30,
(Dollars in millions)
2026
2025
Change
ASSETS
Cash and due from banks
$ 1,796
$ 1,950
-8 %
Interest-bearing deposits at banks
14,342
16,751
-14
Investment securities
37,894
36,864
3
Loans held for sale
696
629
11
Loans:
Commercial and industrial
66,373
61,863
7
Real estate - commercial
25,561
23,768
8
Real estate - residential
25,301
24,335
4
Consumer
27,521
26,379
4
Total loans
144,756
136,345
6
Allowance for loan losses
(2,179)
(2,161)
1
Net loans
142,577
134,184
6
Goodwill
8,465
8,465
—
Core deposit and other intangible assets
41
74
-45
Other assets
14,699
12,360
19
Total assets
$ 220,510
$ 211,277
4 %
LIABILITIES AND SHAREHOLDERS' EQUITY
Noninterest-bearing deposits
$ 44,819
$ 44,994
— %
Interest-bearing deposits
122,691
118,432
4
Total deposits
167,510
163,426
2
Short-term borrowings
6,373
2,059
209
Long-term borrowings
13,648
12,928
6
Accrued interest and other liabilities
4,820
4,136
17
Total liabilities
192,351
182,549
5
Shareholders' equity:
Preferred
3,017
2,394
26
Common
25,142
26,334
-5
Total shareholders' equity
28,159
28,728
-2
Total liabilities and shareholders' equity
$ 220,510
$ 211,277
4 %
Condensed Consolidated Balance Sheet, Five Quarter Trend
September 30,
June 30,
March 31,
December 31,
September 30,
(Dollars in millions)
2026
2026
2026
2025
2025
ASSETS
Cash and due from banks
$ 1,796
$ 1,939
$ 1,903
$ 1,701
$ 1,950
Interest-bearing deposits at banks
14,342
15,499
14,445
17,068
16,751
Investment securities
37,894
38,374
38,621
36,649
36,864
Loans held for sale
696
663
861
1,067
629
Loans:
Commercial and industrial
66,373
65,995
65,216
63,406
61,863
Real estate - commercial
25,561
24,233
22,986
23,335
23,768
Real estate - residential
25,301
25,128
24,530
24,433
24,335
Consumer
27,521
27,174
26,321
26,461
26,379
Total loans
144,756
142,530
139,053
137,635
136,345
Allowance for loan losses
(2,179)
(2,176)
(2,136)
(2,116)
(2,161)
Net loans
142,577
140,354
136,917
135,519
134,184
Goodwill
8,465
8,465
8,465
8,465
8,465
Core deposit and other intangible assets
41
48
55
64
74
Other assets
14,699
13,919
13,469
12,977
12,360
Total assets
$ 220,510
$ 219,261
$ 214,736
$ 213,510
$ 211,277
LIABILITIES AND SHAREHOLDERS' EQUITY
Noninterest-bearing deposits
$ 44,819
$ 48,295
$ 45,892
$ 46,509
$ 44,994
Interest-bearing deposits
122,691
120,590
117,849
120,400
118,432
Total deposits
167,510
168,885
163,741
166,909
163,426
Short-term borrowings
6,373
4,614
7,851
2,149
2,059
Long-term borrowings
13,648
13,568
11,175
10,911
12,928
Accrued interest and other liabilities
4,820
4,248
3,997
4,364
4,136
Total liabilities
192,351
191,315
186,764
184,333
182,549
Shareholders' equity:
Preferred
3,017
2,434
2,434
2,834
2,394
Common
25,142
25,512
25,538
26,343
26,334
Total shareholders' equity
28,159
27,946
27,972
29,177
28,728
Total liabilities and shareholders' equity
$ 220,510
$ 219,261
$ 214,736
$ 213,510
$ 211,277
Condensed Consolidated Average Balance Sheet and Annualized Taxable-equivalent Rates
Three Months Ended
Change in Balance
Nine Months Ended
September 30,
June 30,
September 30,
September 30, 2026 from
September 30,
Change
2026
2026
2025
June 30,
September 30,
2026
2025
in
(Dollars in millions)
Balance
Rate
Balance
Rate
Balance
Rate
2026
2025
Balance
Rate
Balance
Rate
Balance
ASSETS
Interest-bearing deposits at banks
$ 14,209
3.79 %
$ 15,061
3.72 %
$ 17,739
4.43 %
-6 %
-20 %
$ 15,159
3.74 %
$ 19,037
4.46 %
-20 %
Investment securities (1)
38,552
4.33
38,728
4.29
36,559
4.15
—
5
38,378
4.28
35,466
3.98
8
Loans held for sale
682
5.48
777
5.50
637
5.85
-12
7
819
5.45
750
6.92
9
Loans:
Commercial and industrial
65,887
6.00
65,883
6.00
61,687
6.45
—
7
65,139
6.00
61,234
6.41
6
Real estate - commercial
24,862
6.03
23,221
6.29
23,982
6.45
7
4
23,709
6.15
24,796
6.34
-4
Real estate - residential
25,194
4.69
24,827
4.63
24,122
4.57
1
4
24,832
4.62
23,543
4.50
5
Consumer
27,353
6.47
26,719
6.46
26,099
6.60
2
5
26,797
6.47
25,275
6.58
6
Total loans
143,296
5.86
140,650
5.89
135,890
6.15
2
5
140,477
5.87
134,848
6.09
4
Other
—
—
—
—
95
3.45
—
-100
31
—
96
3.46
-67
Total earning assets
196,739
5.41
195,216
5.40
190,920
5.60
1
3
194,864
5.39
190,197
5.54
2
Goodwill
8,465
8,465
8,465
—
—
8,465
8,465
—
Core deposit and other intangible assets
45
51
79
-12
-43
52
86
-40
Other assets
13,611
12,800
11,589
6
17
13,043
11,141
17
Total assets
$ 218,860
$ 216,532
$ 211,053
1 %
4 %
$ 216,424
$ 209,889
3 %
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing deposits:
Savings and interest-checking
deposits
$ 108,013
1.89 %
$ 105,752
1.81 %
$ 104,630
2.23 %
2 %
3 %
$ 106,783
1.85 %
$ 103,378
2.22 %
3 %
Time deposits
15,056
3.19
13,808
3.02
13,890
3.40
9
8
13,982
3.08
14,056
3.48
-1
Total interest-bearing deposits
123,069
2.05
119,560
1.95
118,520
2.36
3
4
120,765
1.99
117,434
2.37
3
Short-term borrowings
5,248
3.89
8,016
3.86
2,844
4.50
-35
85
6,318
3.87
3,013
4.50
110
Long-term borrowings
13,977
5.32
12,778
5.33
12,789
5.64
9
9
12,617
5.35
11,675
5.64
8
Total interest-bearing liabilities
142,294
2.44
140,354
2.36
134,153
2.72
1
6
139,700
2.38
132,122
2.71
6
Noninterest-bearing deposits
43,708
43,964
44,056
-1
-1
44,070
44,877
-2
Other liabilities
4,527
4,275
4,261
6
6
4,349
4,142
5
Total liabilities
190,529
188,593
182,470
1
4
188,119
181,141
4
Shareholders' equity
28,331
27,939
28,583
1
-1
28,305
28,748
-2
Total liabilities and shareholders' equity
$ 218,860
$ 216,532
$ 211,053
1 %
4 %
$ 216,424
$ 209,889
3 %
Net interest spread
2.97
3.04
2.88
3.01
2.83
Contribution of interest-free funds
.68
.66
.81
.67
.82
Net interest margin
3.65 %
3.70 %
3.69 %
3.68 %
3.65 %
____________________
(1)
Yields on investment securities for the nine-month period ended September 30, 2025 reflect $18 million of lower taxable-equivalent interest income resulting from an alignment of amortization periods for certain municipal bonds obtained from the acquisition of People's United Financial, Inc.
Supplemental Information - Loan Balances
September 30,
June 30,
March 31,
December 31,
September 30,
(Dollars in millions)
2026
2026
2026
2025
2025
Commercial and industrial
Commercial and industrial excluding
owner-occupied real estate by industry:
Financial and insurance
$ 13,731
$ 13,804
$ 13,488
$ 12,749
$ 12,077
Services
8,719
8,534
8,207
7,887
7,685
Motor vehicle and recreational finance dealers
6,706
6,966
7,061
7,185
6,636
Manufacturing
6,311
6,389
6,402
6,094
6,238
Wholesale
4,473
4,330
4,343
4,373
4,244
Transportation, communications, utilities
4,456
4,199
3,928
3,883
3,754
Retail
3,347
3,319
3,302
3,087
3,112
Construction
2,412
2,445
2,305
2,260
2,205
Health services
1,811
1,707
1,835
1,816
1,779
Real estate investors
1,589
1,521
1,662
1,574
1,505
Other
1,370
1,397
1,362
1,300
1,567
Total commercial and industrial
excluding owner-occupied real estate
54,925
54,611
53,895
52,208
50,802
Owner-occupied real estate by industry:
Services
2,351
2,362
2,377
2,368
2,308
Motor vehicle and recreational finance dealers
2,263
2,180
2,217
2,234
2,162
Retail
1,929
1,926
1,916
1,893
1,825
Health services
1,413
1,464
1,335
1,268
1,320
Wholesale
1,079
1,035
1,029
978
975
Manufacturing
735
712
727
791
783
Real estate investors
585
607
617
616
634
Other
1,093
1,098
1,103
1,050
1,054
Total owner-occupied real estate
11,448
11,384
11,321
11,198
11,061
Total commercial and industrial
66,373
65,995
65,216
63,406
61,863
Commercial real estate
Permanent finance by property type:
Apartments/Multifamily
7,320
6,865
6,269
6,353
6,270
Retail/Service
4,313
4,259
4,237
4,164
4,320
Industrial/Warehouse
3,510
3,276
2,462
2,297
2,175
Office
3,066
3,147
3,282
3,423
3,487
Health services
1,841
1,583
1,507
1,548
1,554
Hotel
1,728
1,665
1,727
1,743
1,776
Other
443
180
187
180
202
Total permanent
22,221
20,975
19,671
19,708
19,784
Construction/Development
3,340
3,258
3,315
3,627
3,984
Total commercial real estate
25,561
24,233
22,986
23,335
23,768
Residential real estate
Residential real estate
25,301
25,128
24,530
24,433
24,335
Consumer
Home equity lines and loans
4,991
4,891
4,796
4,807
4,730
Recreational finance
15,170
14,856
14,144
14,092
14,152
Automobile
4,871
4,969
5,016
5,167
5,223
Other
2,489
2,458
2,365
2,395
2,274
Total consumer
27,521
27,174
26,321
26,461
26,379
Total loans
$ 144,756
$ 142,530
$ 139,053
$ 137,635
$ 136,345
Supplemental Information - Mortgage Banking Activities
Three Months Ended
Change
Nine Months Ended
Change
September 30,
June 30,
September 30,
September 30,
(Dollars in millions)
2026
2026
Amount
%
2026
2025
Amount
%
Residential mortgage banking revenues
Gains on loans originated for sale
$ 9
$ 7
$ 2
30 %
$ 24
$ 23
$ 1
4 %
Loan servicing:
Loan servicing fees
33
33
—
-1
98
105
(7)
-7
Changes in fair value of mortgage loan
servicing right assets, net of hedging activities
(16)
(11)
(5)
-37
(40)
—
(40)
—
Loan sub-servicing and other fees
93
67
26
38
222
159
63
39
Total loan servicing
110
89
21
23
280
264
16
6
Total residential mortgage banking revenues
$ 119
$ 96
$ 23
24 %
$ 304
$ 287
$ 17
6 %
New commitments to originate loans for sale
$ 377
$ 411
$ (34)
-8 %
$ 1,188
$ 1,019
$ 169
17 %
September 30,
June 30,
March 31,
December 31,
September 30,
(Dollars in millions)
2026
2026
2026
2025
2025
Balances at period end
Loans held for sale
$ 249
$ 256
$ 327
$ 441
$ 327
Commitments to originate loans for sale
191
258
222
224
329
Commitments to sell loans
407
467
544
645
576
Capitalized mortgage loan servicing assets
572
540
542
287
305
Loans serviced for others
34,909
35,253
35,586
35,873
36,421
Loans sub-serviced for others
179,605
183,599
123,968
156,938
161,785
Total loans serviced for others
$ 214,514
$ 218,852
$ 159,554
$ 192,811
$ 198,206
Three Months Ended
Change
Nine Months Ended
Change
September 30,
June 30,
September 30,
September 30,
(Dollars in millions)
2026
2026
Amount
%
2026
2025
Amount
%
Commercial mortgage banking revenues
Gains on loans originated for sale
$ 13
$ 13
$ —
— %
$ 44
$ 50
$ (6)
-12 %
Loan servicing fees and other
20
18
2
9
58
58
—
—
Total commercial mortgage banking revenues
$ 33
$ 31
$ 2
5 %
$ 102
$ 108
$ (6)
-6 %
Loans originated for sale to other investors
$ 737
$ 746
$ (9)
-1 %
$ 2,618
$ 3,138
$ (520)
-17 %
September 30,
June 30,
March 31,
December 31,
September 30,
(Dollars in millions)
2026
2026
2026
2025
2025
Balances at period end
Loans held for sale
$ 263
$ 259
$ 359
$ 484
$ 278
Commitments to originate loans for sale
559
485
529
773
1,074
Commitments to sell loans
826
740
903
1,253
1,292
Capitalized mortgage loan servicing assets
132
136
138
132
123
Loans serviced for others
31,204
31,368
30,934
30,309
28,957
Loans sub-serviced for others
4,013
4,072
4,194
4,231
4,297
Total loans serviced for others
$ 35,217
$ 35,440
$ 35,128
$ 34,540
$ 33,254
Supplemental Information - Other Revenues from Operations
Three Months Ended
Nine Months Ended
September 30,
June 30,
Change
September 30,
September 30,
Change
(Dollars in millions)
2026
2026
Amount
%
2026
2025
Amount
%
Bank owned life insurance revenue
$ 17
$ 20
$ (3)
-12 %
$ 55
$ 56
$ (1)
-2 %
Equipment operating lease income
12
11
1
4
34
37
(3)
-9
BLG income
31
47
(16)
-34
111
20
91
455
Earnout payment related to 2023 sale of
CIT business
—
—
—
—
—
28
(28)
-100
Gains on sales of out-of-footprint loan
portfolio
—
—
—
—
—
15
(15)
-100
Gain on sale of institutional services
subsidiary
—
—
—
—
—
10
(10)
-100
Other
25
17
8
47
57
56
1
2
Total other revenues from operations
$ 85
$ 95
$ (10)
-12 %
$ 257
$ 222
$ 35
16 %
Three Months Ended
September 30,
June 30,
March 31,
December 31,
September 30,
(Dollars in millions)
2026
2026
2026
2025
2025
Bank owned life insurance revenue
$ 17
$ 20
$ 18
$ 19
$ 21
Equipment operating lease income
12
11
11
11
12
BLG income
31
47
33
—
20
Earnout payment related to 2023 sale of CIT business
—
—
—
—
28
Other
25
17
15
20
31
Total other revenues from operations
$ 85
$ 95
$ 77
$ 50
$ 112
Supplemental Information - Interest Rate Swap Agreements Designated as Hedges at September 30, 2026
(Dollars in billions)
September 30,
2026
December 31,
2026
March 31,
2027
June 30,
2027
September 30,
2027
December 31,
2027
March 31,
2028
Fair value hedges:
Active
$ 6.1
$ 6.1
$ 6.1
$ 6.1
$ 5.1
$ 6.4
$ 5.9
Forward-starting
1.3
1.3
1.3
1.3
1.3
—
—
Cash flow hedges:
Active
16.7
17.5
17.0
17.7
15.2
13.9
12.7
Forward-starting
8.8
8.0
5.8
1.8
1.8
1.5
—
Fair value hedges -
weighted-average fixed rate:
Active
3.56 %
3.56 %
3.56 %
3.56 %
3.66 %
3.85 %
3.85 %
Forward-starting
4.62
4.62
4.62
4.62
4.62
—
—
Cash flow hedges -
weighted-average fixed rate:
Active
3.70
3.69
3.67
3.78
3.78
3.76
3.87
Forward-starting
3.97
4.01
4.23
4.56
4.56
4.55
—
Reconciliation of Quarterly GAAP to Non-GAAP Measures
Three Months Ended
Nine Months Ended
September 30,
September 30,
2026
2025
2026
2025
(Dollars in millions, except per share)
Income statement data
Net income
Net income
$ 775
$ 792
$ 2,257
$ 2,092
Amortization of core deposit and other intangible assets (1)
5
6
17
24
Net operating income
$ 780
$ 798
$ 2,274
$ 2,116
Earnings per common share
Diluted earnings per common share
$ 5.04
$ 4.82
$ 14.48
$ 12.34
Amortization of core deposit and other intangible assets (1)
.04
.05
.12
.15
Diluted net operating earnings per common share
$ 5.08
$ 4.87
$ 14.60
$ 12.49
Other expense
Other expense
$ 1,393
$ 1,363
$ 4,180
$ 4,114
Amortization of core deposit and other intangible assets
(7)
(10)
(23)
(32)
Noninterest operating expense
$ 1,386
$ 1,353
$ 4,157
$ 4,082
Efficiency ratio
Noninterest operating expense (numerator)
$ 1,386
$ 1,353
$ 4,157
$ 4,082
Taxable-equivalent net interest income
$ 1,805
$ 1,773
$ 5,372
$ 5,202
Other income
743
752
2,172
2,046
Less: Gain (loss) on bank investment securities
(1)
1
5
1
Denominator
$ 2,549
$ 2,524
$ 7,539
$ 7,247
Efficiency ratio
54.4 %
53.6 %
55.1 %
56.3 %
Balance sheet data
Average assets
Average assets
$ 218,860
$ 211,053
$ 216,424
$ 209,889
Goodwill
(8,465)
(8,465)
(8,465)
(8,465)
Core deposit and other intangible assets
(45)
(79)
(52)
(86)
Deferred taxes
17
24
18
25
Average tangible assets
$ 210,367
$ 202,533
$ 207,925
$ 201,363
Average common equity
Average total equity
$ 28,331
$ 28,583
$ 28,305
$ 28,748
Preferred stock
(2,890)
(2,394)
(2,635)
(2,394)
Average common equity
25,441
26,189
25,670
26,354
Goodwill
(8,465)
(8,465)
(8,465)
(8,465)
Core deposit and other intangible assets
(45)
(79)
(52)
(86)
Deferred taxes
17
24
18
25
Average tangible common equity
$ 16,948
$ 17,669
$ 17,171
$ 17,828
At end of quarter
Total assets
Total assets
$ 220,510
$ 211,277
Goodwill
(8,465)
(8,465)
Core deposit and other intangible assets
(41)
(74)
Deferred taxes
16
23
Total tangible assets
$ 212,020
$ 202,761
Total common equity
Total equity
$ 28,159
$ 28,728
Preferred stock
(3,017)
(2,394)
Common equity
25,142
26,334
Goodwill
(8,465)
(8,465)
Core deposit and other intangible assets
(41)
(74)
Deferred taxes
16
23
Total tangible common equity
$ 16,652
$ 17,818
____________________
(1)
After any related tax effect.
Reconciliation of Quarterly GAAP to Non-GAAP Measures, Five Quarter Trend
Three Months Ended
September 30,
June 30,
March 31,
December 31,
September 30,
2026
2026
2026
2025
2025
(Dollars in millions, except per share)
Income statement data
Net income
Net income
$ 775
$ 818
$ 664
$ 759
$ 792
Amortization of core deposit and other intangible assets (1)
5
5
7
8
6
Net operating income
$ 780
$ 823
$ 671
$ 767
$ 798
Earnings per common share
Diluted earnings per common share
$ 5.04
$ 5.32
$ 4.13
$ 4.67
$ 4.82
Amortization of core deposit and other intangible assets (1)
.04
.03
.05
.05
.05
Diluted net operating earnings per common share
$ 5.08
$ 5.35
$ 4.18
$ 4.72
$ 4.87
Other expense
Other expense
$ 1,393
$ 1,349
$ 1,438
$ 1,379
$ 1,363
Amortization of core deposit and other intangible assets
M&T Bank Corporation (NYSE:MTB) will release its third-quarter earnings report before the opening bell on Friday, Oct. 16.
Analysts expect the company to report quarterly earnings of $4.93 per share, up from $4.82 per share a year ago. The consensus estimate for M&T Bank’s quarterly revenue is $2.53 billion. It reported $2.51 billion last year, according to Benzinga Pro.
Ahead of quarterly earnings, Cantor Fitzgerald analyst Dave Rochester maintained an Overweight rating on M&T Bank on Wednesday and cut the price target from $285 to $255.
With the recent buzz around M&T Bank, some investors may be eyeing potential gains from the company’s dividends too. Currently, M&T Bank has an annual dividend yield of 2.78%, with a quarterly dividend of $1.50 per share ($6.00 a year).
So, how can investors use its dividend yield to pocket a regular $500 per month?
To earn $500 per month, or $6,000 annually, from dividends alone, you would need an investment of about $216,050, or around 1,000 shares. For a more modest $100 per month or $1,200 per year, you would need $43,210 (about 200 shares).
To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($6.00 in this case). So, $6,000 / $6.00 = 1,000 shares ($500 per month), and $1,200 / $6.00 = 200 shares ($100 per month).
Note that dividend yield can change on a rolling basis, as dividend payments and stock prices both fluctuate over time.
How that works: The dividend yield is computed by dividing the annual dividend payment by the stock’s current price.
For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).
Similarly, changes in dividend payments can affect the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, the yield will also fall.
MTB Price Action: M&T Bank shares rose 0.5% to close at $54.58 on Monday.
Bank rises to No. 5 nationally, providing nearly 3,000 loans totaling $326.4 million to small businesses in Fiscal Year 2026
, /PRNewswire/ -- M&T Bank (NYSE:MTB) ranked No. 1 in Fiscal Year 2026 in Small Business Administration (SBA) 7(a) lending by number of loans across its communities, while achieving the highest SBA 7(a) loan volume and dollar amount in the bank's history. M&T also climbed to No. 5 nationally among SBA 7(a) lenders, up from No. 7 the previous year, marking 18 consecutive years among the nation's leading SBA lenders.
M&T approved 2,975 SBA 7(a) loans totaling $326.44 million during the federal fiscal year which ended Sept. 30, 2026*. This represents an increase of 274 loans and $32.5 million compared with Fiscal Year 2025, approximately 10% growth in both loan units and dollars.
The bank's record performance came amid a challenging national lending environment, with industrywide SBA 7(a) loan volume declining 26% and lending dollars falling 12% year over year.
"M&T's longstanding commitment to small businesses is about more than providing access to capital, it's about being a trusted partner to entrepreneurs at every stage of their journey," said Eric Feldstein, M&T Bank Senior Executive Vice President and Head of Retail and Business Banking. "Our SBA lending leadership has been built on understanding our clients' goals and working with them to find the right path forward, whether they're launching a new business, investing in a permanent home, or pursuing their next opportunity for growth. We're proud to help entrepreneurs turn their ideas and ambitions into the businesses that strengthen our communities."
M&T also ranked No. 8 (tied) nationally as an SBA 504 Third-Party Lender, providing 55 loans totaling $50.88 million. While the SBA 7(a) program helps small businesses finance a broad range of needs, the 504 program focuses on long-term investments such as purchasing commercial property, constructing facilities, and acquiring major equipment. Together, these programs allow M&T to support businesses across every stage of growth.
M&T Leads SBA Lending Across Its Communities
M&T's SBA performance reflects the strength and consistency of its small business lending program in its footprint. In Fiscal Year 2026, the bank achieved No. 1 rankings in 10 SBA districts and top three positions in all 15 reporting districts.
The bank maintained particularly strong results across the Mid-Atlantic, Northeast and New England regions, including No. 1 rankings in Baltimore, Buffalo/Rochester, Connecticut, Delaware, Metro New York City, Philadelphia, Richmond, Syracuse, Vermont, and Washington, D.C.
In New England, M&T ranked among the top three SBA lenders, including No. 1 positions in Connecticut and Vermont. The bank's SBA 7(a) lending in New England has expanded significantly, from 107 approvals in Fiscal Year 2022 to 588 in Fiscal Year 2026.
M&T's Fiscal Year 2026 district-level results include:
SBA District
Rank
Loans
Loan Dollars
Baltimore
No. 1
442
$56.0M
Buffalo/Rochester
No. 1
226
$28.8M
Connecticut
No. 1
298
$28.15M
Delaware
No. 1
98
$9.06M
Metro New York City
No. 1
409
$40.1M
Philadelphia (Eastern PA)
No. 1
304
$29.6M
Richmond
No. 1
93
$10.7M
Syracuse
No. 1
164
$19.1M
Vermont
No. 1
38
$2.35M
Washington, D.C.
No. 1
264
$34.9M
New Hampshire
No. 2
76
$11.06M
New Jersey
No. 2
310
$31.8M
West Virginia
No. 2
18
$1.7M
Maine
No. 3
30
$2.3M
Massachusetts
No. 3
141
$17.64M
Supporting Small Businesses at Every Stage
M&T's commitment to small businesses extends beyond lending. Bank employees work closely with entrepreneurs to understand their businesses, connect them with resources, and help identify financing solutions that support their goals — whether launching a new venture, expanding an established business or investing in a long-term growth strategy.
"Every SBA loan represents a business owner pursuing a vision, creating opportunity and strengthening a local economy," added Feldstein. "These results are a reflection of the collaboration across Business Banking, Retail, Credit, Operations, Risk and many other teams that come together every day to deliver for our clients."
Helping a Mid-Atlantic Business Secure Its Future
For Mid Atlantic Port Service, a Baltimore-based company providing services to the maritime and port industry, rising rental costs created an opportunity to invest in a permanent home. Rather than continue leasing multiple spaces, the company worked with M&T to secure $5.7 million in SBA 504 financing to purchase a facility and bring its operations together under one roof. The financing helped the company invest in its long-term future while preserving cash for day-to-day operations and growth.
"As our lease costs continued to rise, we knew owning our facility was the right long-term move for the business, but we needed a financing partner that could help us make it happen without tying up the working capital we need to operate and grow," said Marc Cruise, owner of Mid Atlantic Port Service. "M&T took the time to understand both our immediate needs and our long-term goals and helped structure an SBA 504 solution that allowed us to bring our operations together and invest in our future."
Learn more about M&T Bank's lending for small businesses at mtb.com/business/business-financing/small-business-loans.
*=According to statistics released by the U.S. Small Business Administration for total approved loans through the SBA's 7(a) lending program during the federal fiscal year ending Sept. 30, 2026.
About M&T
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information on M&T Bank, visit www.mtb.com.
Key Takeaways M&T Bank's Q3 earnings are expected to rise 2.3% y/y to $4.98 per share.MTB's net interest income is projected to grow 2.5% to $1.81 billion, supported by lending activity.Higher expenses, declining mortgage revenues, and increased loan-loss reserves may weigh on results. M&T Bank Corporation (MTB - Free Report) is slated to report third-quarter 2026 results on Oct. 16, before the opening bell. The company is expected to have registered year-over-year increases in quarterly revenues and earnings.
In the last reported quarter, the company’s results were supported by higher net interest income (NII) and non-interest income, along with loan growth. However, higher expenses acted as a headwind.
The company has an impressive earnings surprise history. Its earnings surpassed estimates in the trailing four quarters, with an average surprise of 8.95%.
Factors to Influence M&T Bank’s Q3 ResultsLoans & NII: Following solid lending activity in the first half of 2026, loan growth momentum likely moderated in the to-be-reported quarter. Per the Fed’s latest data, commercial and industrial loan demand remained healthy in the third quarter, while consumer and real estate lending stayed steady. This is likely to have supported M&T Bank’s lending activity and growth in average interest-earning assets in the to-be-reported period.
The Zacks Consensus Estimate for average interest-earning assets is pegged at $197.2 billion, indicating a year-over-year rise of 3.3%.
In September 2026, the Federal Reserve raised interest rates by 25 basis points to 3.75-4.00%, citing persistently elevated inflation. As interest rates remained unchanged for most of the quarter, the recent hike is less likely to have a significant impact on MTB’s NII and margin in the third quarter of 2026.
The Zacks Consensus Estimate for NII is pegged at $1.81 billion, indicating an increase of 2.5% from the year-ago reported number.
Fee Income: MTB’s average total deposits are expected to have declined in the third quarter of 2026. This is expected to have adversely impacted revenues from service charges on deposit accounts.
The Zacks Consensus Estimate for the metric is pegged at $108.8 million, indicating a 22.8% decline from the year-ago quarter’s reported figure.
The third quarter was challenging for the mortgage banking business as mortgage rates hovered around 7% and affordability was low. Both origination volume and refinance activity faced persistent headwinds from inventory constraints and a higher-for-longer rate regime. As a result, M&T Bank's mortgage banking revenues are likely to have witnessed a decline in the quarter to be reported.
The Zacks Consensus Estimate for mortgage banking revenues is pegged at $145 million, indicating a 1.4% decline from the year-ago quarter’s reported level.
The consensus estimate for brokerage services income of $42 million implies a 3% increase from that reported in the third quarter of 2026.
The Zacks Consensus Estimate for trust income of $190.3 million suggests a 23.5% rise from the year-ago quarter’s actual.
The Zacks Consensus Estimate for total non-interest income is pegged at $714.5 million, indicating a decline of 4.9% from the year-ago quarter's reported figure.
Expenses: Despite ongoing cost-control initiatives, the company’s expenses are expected to have been elevated in the third quarter of 2026, reflecting continued investments in strengthening its franchise.
Asset quality: After setting aside a decent amount for potential loan losses in the first half of 2026, M&T Bank is likely to have increased reserve building in the to-be-reported quarter, as the recent Fed rate hike and expectations of another hike later this year could weigh on borrowers’ repayment capacity.
What Our Quantitative Model Predicts for MTBOur proven model predicts an earnings beat for M&T Bank this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is exactly the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for M&T Bank is +0.73%.
Zacks Rank: M&T Bank currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MTB’s third-quarter earnings has been revised downward to $4.98 per share over the past seven days. The figure indicates an increase of 2.3% from the year-ago quarter’s actual.
The consensus estimate for revenues is pegged at $2.54 billion, implying a rise of 1% from the year-ago reported level.
Other Stocks That Warrant a LookHere are a couple of other bank stocks that you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat this time:
The PNC Financial Services Group (PNC - Free Report) is scheduled to announce third-quarter 2026 results on Oct. 15. The company has a Zacks Rank #3 and an Earnings ESP of +0.80% at present.
Quarterly earnings estimates for PNC Financial have been revised lower to $4.97 over the past week.
The Earnings ESP for Prosperity Bancshares (PB - Free Report) is +0.22% and it carries a Zacks Rank #3 at present. The company is slated to report third-quarter 2026 results on Oct. 28.
Over the past seven days, the Zacks Consensus Estimate for PB’s quarterly earnings has been revised lower to $1.63 per share.
Wall Street expects a year-over-year increase in earnings on higher revenues when M&T Bank Corporation (MTB - Free Report) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 16. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly earnings of $4.98 per share in its upcoming report, which represents a year-over-year change of +2.3%.
Revenues are expected to be $2.54 billion, up 1% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.17% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for M&T Bank?For M&T Bank, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.73%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that M&T Bank will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that M&T Bank would post earnings of $4.66 per share when it actually produced earnings of $5.35, delivering a surprise of +14.81%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
M&T Bank appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAmong the stocks in the Zacks Banks - Major Regional industry, U.S. Bancorp (USB - Free Report) , is soon expected to post earnings of $1.32 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +8.2%. This quarter's revenue is expected to be $8.01 billion, up 9.2% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for U.S. Bancorp has been revised 2.2% up to the current level. Nevertheless, the company now has an Earnings ESP of -0.08%, reflecting a lower Most Accurate Estimate.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that U.S. Bancorp will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
M&T Bank Corporation (NYSE:MTB) will release earnings for its third quarter before the opening bell on Friday, Oct. 16.
Analysts expect the Buffalo, New York-based company to report quarterly earnings of $4.92 per share, up from $4.82 per share in the year-ago period. The consensus estimate for MTB’s quarterly revenue is $2.52 billion. It reported $2.51 billion last year, according to Benzinga Pro.
On Sept. 22, M&T Bank filed for mixed shelf offering.
Shares of M&T Bank fell 1% to close at $216.63 on Wednesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
UBS analyst Erika Najarian maintained the stock with a Neutral rating and cut the price target from $255 to $238 on Oct. 5, 2026. This analyst has an accuracy rate of 63%. JP Morgan analyst Vivek Juneja maintained a Neutral rating and slashed the price target from $265.5 to $248.5 on Oct. 2, 2026. This analyst has an accuracy rate of 57%. Evercore ISI Group analyst John Pancari maintained an In-Line rating and cut the price target from $260 to $230 on Oct. 1, 2026. This analyst has an accuracy rate of 61%. Morgan Stanley analyst Manan Gosalia maintained an Overweight rating and slashed the price target from $304 to $301 on Sept. 28, 2026. This analyst has an accuracy rate of 70%. Truist Securities analyst Brian Foran maintained the stock with a Hold rating and cut the price target from $268 to $250 on Sept. 23, 2026. This analyst has an accuracy rate of 61%. Considering buying MTB stock? Here’s what analysts think:
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Ebola Assay in Development for Decentralized Testing on the Co-Dx PCR Platform
, /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX) ("Co-Dx" or "the Company"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced its upcoming participation at WHX Labs Johannesburg, taking place October 6-8, 2026, at the Gallagher Convention Centre in Johannesburg, South Africa.
Attendees are invited to join Co-Dx at Booth # H3.L38, where the Company will showcase the Co-Dx PCR platform and the Co-Dx™ PCR MTB test*.
Co-Dx's participation comes amid intensified global attention to the ongoing Ebola outbreak in the Democratic Republic of the Congo and the broader international response across the African continent. On September 23, 2026, the U.S. Department of State announced an additional $267 million in direct health and humanitarian assistance for the Ebola response, bringing total U.S. government direct assistance to approximately $887 million. The Co-Dx PCR platform was designed to support testing in decentralized settings, one of the areas being prioritized through emergency response funding.
Co-Dx continues to optimize the sensitivity of its Ebola assay, which is being developed to run on the Co-Dx PCR platform, as part of its commitment to expanding access to rapid, decentralized diagnostics, working toward a molecular test that can support detection of Ebola virus in decentralized settings. The Company is also actively pursuing grant and other funding opportunities to support the advancement of this work.
While outbreaks such as Ebola draw urgent international attention, tuberculosis remains one of the largest ongoing infectious disease burdens across the African continent. TB is the world's leading cause of death from a single infectious agent, with an estimated 10.7 million people falling ill and 1.23 million deaths globally in 2024, according to the World Health Organization (WHO). The WHO African Region accounted for a quarter of new TB cases that year and carries the highest burden of HIV-associated TB. WHO recommends rapid diagnostic tests, including molecular assays, as the initial test for anyone with signs and symptoms of TB. The Co-Dx PCR MTB test was developed to bring this type of molecular testing to the same decentralized settings the Co-Dx PCR platform was designed to serve.
The Company's attendance at WHX Labs Johannesburg is supported in part by a State Trade Expansion Program (STEP) grant administered by World Trade Center Utah. Interested parties, attendees, and global health partners are encouraged to visit the booth or email [email protected] to set up a meeting with the Co-Dx team.
*The Co-Dx PCR platform (including the PCR Home®, PCR Pro®, mobile app, and all associated tests) has not been cleared or authorized by the FDA, is subject to review by the FDA and/or other regulatory bodies and is not yet available for sale.
About Co-Diagnostics, Inc.:
Co-Diagnostics, Inc., a Utah corporation, is a molecular diagnostics company that develops, manufactures and markets state-of-the-art diagnostics technologies. The Company's technologies are utilized for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). The Company also uses its proprietary technology to design specific tests for its Co-Dx PCR at-home and point-of-care platform (subject to regulatory review and not currently for sale) and to identify genetic markers for use in applications other than infectious disease.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "believes," "expects," "estimates," "intends," "may," "plans," "will," "seeks," "anticipates," and similar expressions, or the negative of these terms. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company's ability to participate meaningfully in international public health forums, including WHX Labs Johannesburg; the Company's or its joint venture's ability to successfully advance and complete clinical performance studies of the Co-Dx™ PCR MTB test and obtain regulatory clearance in India or elsewhere; the Company's ability to develop the Co-Dx PCR platform to support decentralized testing; the Company's ability to develop and optimize the sensitivity of its Ebola assay and to advance a molecular test capable of supporting the detection of Ebola virus in decentralized settings; the Company's ability to obtain grant or other funding to support its Ebola assay and other development programs;and the Company's expectations regarding future commercialization of the Co-Dx PCR platform. Such statements are subject to a number of risks and uncertainties, including, without limitation: risks that market demand or public health conditions may change; risks related to the Company's or its joint venture's ability to successfully advance and complete clinical performance studies of the Co-Dx™ PCR MTB test, including whether such studies will support regulatory submissions or commercialization; risks related to the Company's ability to successfully develop and validate the Co-Dx PCR platform for decentralized testing applications; risks related to the Company's ability to develop, optimize the sensitivity of, and validate an Ebola assay, including whether such efforts will result in a commercially viable or regulatory-cleared product; risks that the Company may not obtain grant or other funding for its Ebola assay or other development programs on acceptable terms, in a timely manner, or at all; risks related to the Company's or its joint venture's ability to commercialize the platform in strategically important markets; risks that the event or similar engagements may not result in any commercial, regulatory or other benefit to the Company; risks associated with international operations, including changing regulatory requirements, economic conditions, reimbursement environments, import/export restrictions, and foreign currency fluctuations; risks related to regulatory review by regulatory authorities that would be required to achieve a successful commercial launch; risks related to the performance, reliability, and market acceptance of the Co-Dx PCR platform and other Co-Dx technologies; risks associated with dependence on third parties, suppliers, collaborators, and distribution partners; risks related to competition, technological change, and intellectual property protection; and other risks described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"). Actual results may differ materially from those expressed or implied in these forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. A further description of risks and uncertainties can be found in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2026, and in its other filings with the SEC. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law.
Eastern Bank raised its position in shares of M&T Bank Corporation (NYSE:MTB – Free Report) by 259.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,456 shares of the financial services provider’s stock after buying an additional 17,647 shares during the quarter. Eastern Bank’s holdings in M&T Bank were worth $5,322,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in shares of M&T Bank in the 2nd quarter worth approximately $330,978,000. Davis Asset Management L.P. purchased a new position in M&T Bank during the 2nd quarter worth $97,584,000. Squarepoint Ops LLC grew its stake in M&T Bank by 718.5% during the 2nd quarter. Squarepoint Ops LLC now owns 224,397 shares of the financial services provider’s stock worth $53,409,000 after buying an additional 196,982 shares during the last quarter. Danske Bank A S acquired a new position in M&T Bank during the 2nd quarter valued at about $34,683,000. Finally, Susquehanna Fundamental Investments LLC raised its stake in M&T Bank by 205.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 110,553 shares of the financial services provider’s stock valued at $26,313,000 after buying an additional 74,353 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.
Insider Activity In other news, CEO Rene F. Jones sold 19,396 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the sale, the chief executive officer owned 103,831 shares in the company, valued at $24,851,949.85. This represents a 15.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,028 shares of company stock worth $4,794,884 over the last ninety days. 0.44% of the stock is owned by insiders.
Wall Street Analyst Weigh In Several equities research analysts have weighed in on the company. DA Davidson raised their price target on M&T Bank from $263.00 to $266.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Barclays increased their price objective on shares of M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a research note on Thursday, July 23rd. Wells Fargo & Company upped their price target on shares of M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Finally, Morgan Stanley cut their price target on shares of M&T Bank from $304.00 to $301.00 and set an “overweight” rating on the stock in a research note on Monday, September 28th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $250.47. View Our Latest Analysis on M&T Bank
M&T Bank Stock Performance NYSE MTB traded up $1.17 during trading hours on Monday, reaching $220.31. The stock had a trading volume of 328,586 shares, compared to its average volume of 1,124,631. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $255.95. The stock has a fifty day moving average of $238.43 and a 200 day moving average of $227.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $31.82 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 1.24 and a beta of 0.61.
M&T Bank (NYSE:MTB – Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same period last year, the firm posted $4.28 EPS. Sell-side analysts predict that M&T Bank Corporation will post 19.45 earnings per share for the current year.
M&T Bank Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, September 1st. M&T Bank’s dividend payout ratio is presently 31.68%.
About M&T Bank (Free Report)
M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.
M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.
The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.
John R.
Featured Stories Five stocks we like better than M&T Bank What a $1 Billion Chip Deal Says About Amazon’s AI Ambitions 3 Stocks Benefiting From AI Demand Just Announced Major Buybacks Insiders Are Selling These 3 Stocks, Should You? Datadog’s Rally Has Insiders Selling—Can It Keep Climbing? Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Corporation (NYSE:MTB – Free Report).
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Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
Based in Buffalo, M&T Bank Corporation (MTB - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 7.88%. The company is paying out a dividend of $1.50 per share at the moment, with a dividend yield of 2.76% compared to the Banks - Major Regional industry's yield of 3.02% and the S&P 500's yield of 1.44%.
Looking at dividend growth, the company's current annualized dividend of $6.00 is up 5.3% from last year. Over the last 5 years, M&T Bank Corporation has increased its dividend 3 times on a year-over-year basis for an average annual increase of 5.36%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. M&T Bank's current payout ratio is 31%, meaning it paid out 31% of its trailing 12-month EPS as dividend.
Earnings growth looks solid for MTB for this fiscal year. The Zacks Consensus Estimate for 2026 is $19.45 per share, with earnings expected to increase 13.08% from the year ago period.
From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. However, not all companies offer a quarterly payout.
High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that MTB is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy).
New standalone branch on Pineridge Road reinforces M&T Bank's long-term commitment to the Torrington community
, /PRNewswire/ -- M&T Bank (NYSE: MTB) today announced the grand opening of a new full-service branch at 25 Pineridge Road in Torrington, Connecticut. The new location reflects M&T Bank's long-term investment in and commitment to the Torrington community, while furthering its mission to expand access to financial services for residents, families and small businesses.
The 2,400-square-foot freestanding branch combines modern conveniences with personalized service, offering a full range of banking services, including teller assistance, a drive-thru, a walk-up ATM and private offices for financial consultations. Thoughtfully designed to support the needs of both consumers and business customers, the branch provides access to everyday banking services, mortgage solutions and small business banking expertise.
"Our new Torrington branch was designed with the customer in mind and reflects the strong relationships we've built within this community and with the customers we are privileged to serve," said Michael Weinstock, Hartford Regional President for M&T Bank. "This location strengthens our ability to provide trusted financial guidance, personalized service and local expertise to the individuals, families and businesses that make Torrington such a special place. We look forward to providing enhanced banking experiences and continuing to be a strong partner to the Torrington community for years to come."
As part of M&T Bank's long-term commitment to Torrington, The M&T Charitable Foundation is donating $3,000 to the Friendly Hands Food Bank, an organization dedicated to combating food insecurity, preventing food waste and ensuring that neighbors in need have access to nutritious meals. This contribution will help expand access to essential food and support services for individuals and families across the region. The investment reflects M&T's ongoing commitment to strengthening local communities and supporting organizations that address critical needs and create opportunities for individuals and families to thrive.
"Community partnerships play a critical role in helping us meet the growing needs of our neighbors," said Karen Thomas, Executive Director, Friendly Hands Food Bank. "We see firsthand how important community support for local families is, and we are thankful for M&T Bank's generosity and ongoing dedication to Torrington. We are honored to be part of this milestone and believe that together, we can make a meaningful difference in the lives of those who need it most."
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information on M&T Bank, visit www.mtb.com.
Media Contacts:
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Key Takeaways M&T Bank raised its 2026 average loan guidance to $141-$143 billion on healthy commercial demand.Fee growth in capital markets, wealth management and mortgage placement should diversify revenues.AI deployment in underwriting, fraud detection and cybersecurity could drive productivity gains over time. M&T Bank Corporation’s (MTB - Free Report) solid loan growth, expanding fee businesses and increasing use of artificial intelligence (AI) are likely to support earnings growth. Management comments at the Barclays 24th Annual Global Financial Services Conference provided additional context around these trends.
Loan growth remains a key earnings driver. M&T Bank expects average loans of $141–$143 billion for 2026 (up from prior guidance range of $140–$142 billion), supported by healthy demand from middle-market and large corporate clients. Broad-based commercial loan growth should expand average earning assets and aid interest income. Management expects taxable-equivalent net interest income (NII) to be in the lower half of the $7.2-$7.35 billion range for 2026, with the net interest margin (NIM) likely to remain in the high-3.60% range.
MTB is also strengthening its fee-based businesses, including capital markets, wealth management and mortgage placement. Management expects fee revenues to be near the upper end of previously stated $2.8-$2.85 billion growth range for 2026. Growth in these businesses should reduce the dependence on spread income and support a more diversified revenue base. Capital markets and advisory services can deepen relationships with commercial clients, while wealth management offers relatively recurring revenues. Meanwhile, mortgage-placement activities allow MTB to generate fees without retaining all originated loans, supporting capital efficiency and limiting incremental balance-sheet risks.
The company’s increased adoption of AI could drive productivity gains over time. M&T Bank is deploying AI across areas such as credit underwriting, fraud detection and cybersecurity. Greater automation and improved risk assessment could help streamline operations, contain costs and strengthen operating leverage.
Overall, solid loan growth and higher fee revenues are likely to support near-term earnings, while AI-driven efficiencies could emerge as an additional long-term growth lever. Reflecting these positives, MTB’s earnings are projected to increase 13.1% in 2026 and 9.5% in 2027.
Earnings Estimates
Image Source: Zacks Investment Research
How Are Other Banks Expected to Fare in 2026?PNC Financial (PNC - Free Report) expects net interest income to increase 15-15.5% from the 2025 baseline of $14.4 billion, revised upward from the earlier guidance of 14.5% growth. Non-interest income is expected to rise 11% from the 2025 baseline of $8.7 billion and 9% excluding integration costs and significant items. Driven by this, PNC Financial’s total revenues are anticipated to increase 14% from the 2025 baseline of $23.1 billion.
Citizens Financial (CFG - Free Report) expects NII to rise at the high end of 10-12% from the $5.8 billion reported in 2025. Average loans are projected to rise 3-5% from the $142.7 billion reported in 2025. Citizen Financial expects 2026 non-interest income to rise at the high end of 6-8% from the $2.4 billion reported in 2025.
MTB Price Performance & Zacks RankM&T Bank shares have gained 14.3% in the past year compared with the industry’s growth of 23.8%.
Price Performance
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nykredit A S bought a new position in shares of M&T Bank Corporation (NYSE:MTB – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 55,227 shares of the financial services provider’s stock, valued at approximately $13,145,000.
Other hedge funds have also modified their holdings of the company. Amundi boosted its position in M&T Bank by 7.7% in the 2nd quarter. Amundi now owns 388,916 shares of the financial services provider’s stock valued at $92,566,000 after buying an additional 27,795 shares during the last quarter. HighTower Advisors LLC grew its position in shares of M&T Bank by 4.6% during the 2nd quarter. HighTower Advisors LLC now owns 54,108 shares of the financial services provider’s stock worth $12,878,000 after buying an additional 2,366 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in M&T Bank in the second quarter valued at approximately $595,000. Alan B Lancz & Associates Inc. bought a new stake in shares of M&T Bank in the 2nd quarter valued at $212,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of M&T Bank in the second quarter worth about $86,000. 84.68% of the stock is owned by institutional investors.
M&T Bank Stock Performance M&T Bank stock opened at $227.04 on Monday. The business’s 50-day moving average price is $244.00 and its two-hundred day moving average price is $226.63. The stock has a market cap of $32.79 billion, a PE ratio of 11.99, a P/E/G ratio of 1.29 and a beta of 0.56. M&T Bank Corporation has a 12-month low of $174.76 and a 12-month high of $255.95. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53.
M&T Bank (NYSE:MTB – Get Free Report) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the business posted $4.28 earnings per share. As a group, analysts expect that M&T Bank Corporation will post 19.45 earnings per share for the current fiscal year. M&T Bank Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, September 1st. M&T Bank’s dividend payout ratio (DPR) is 31.68%.
Insider Activity In other news, Director Rudina Seseri sold 623 shares of M&T Bank stock in a transaction on Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director owned 3,649 shares in the company, valued at approximately $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.44% of the company’s stock.
Analyst Upgrades and Downgrades A number of brokerages recently commented on MTB. Royal Bank Of Canada raised their price objective on shares of M&T Bank from $230.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. UBS Group lifted their price target on M&T Bank from $252.00 to $255.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Morgan Stanley raised shares of M&T Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $253.00 to $304.00 in a research report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. boosted their price objective on M&T Bank from $251.50 to $265.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average price target of $255.97.
Get Our Latest Research Report on M&T Bank
M&T Bank Company Profile (Free Report)
M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.
The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.
Further Reading Five stocks we like better than M&T Bank NVIDIA Just Named AI’s Next Bottleneck—And These 3 Stocks Sit Right In It Gold Has Gone Sideways, But These 3 Stocks Haven’t The AI Bottleneck Is Not Chips Anymore and 3 Pipeline Stocks Are Cashing In These 3 Stocks Under $20 Have Wall Street Looking Past the Share Price Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Corporation (NYSE:MTB – Free Report).
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, /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE: MTB) will announce its third quarter 2026 earnings results in a press release that will be issued before the market opens on Friday, October 16, 2026.
Following the release, M&T will conduct a conference call and webcast at 8:00 a.m. (ET) to discuss the earnings results. The conference call and webcast may contain forward-looking statements and other material information.
Domestic callers wishing to participate in the call may dial toll free (800) 347-7315. International participants, using any applicable international calling codes, may dial (785) 424-1755. Callers should reference M&T Bank Corporation or the conference ID # MTBQ326. The conference call will be webcast live through M&T's website at https://ir.mtb.com/news-events/events-presentations.
A replay of the call will be available through Friday, October 23, 2026, by calling (800) 839-3736 or (402) 220-2978 for international participants. No conference ID or passcode are required. The webcast archive of the conference call will be available by 3:00 p.m., October 16, 2026, on M&T's website at https://ir.mtb.com/news-events/events-presentations.
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
For more information on M&T Bank, visit www.mtb.com.
Banks Are Buying Back Stock Hand Over Fist, Including These 3 NamesM&T Bank NYSE: MTB Chairman and CEO René Jones said the lender is seeing broad-based loan demand in 2026, supported by what he characterized as one of the strongest operating environments of his career. He also outlined continued investment in technology, process modernization and fee-based businesses as the bank seeks to maintain its competitive position.
Speaking at an investor conference, Jones said M&T's longstanding approach centers on patient decision-making, disciplined underwriting and relationship-based banking. He said the company works to preserve that culture through talent development, including programs that teach banking fundamentals to employees who may not enter the company with financial-services backgrounds.
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Banking and trucking: Is the economy rolling toward troubles?“The fundamentals of an intermediary, I don't think really change,” Jones said, citing the importance of credit and liquidity management even as technology changes the industry.
Broad Loan Growth, With Some Auto Softness Jones said 2026 has differed sharply from 2025, when M&T remained cautious on commercial real estate and saw lower utilization in commercial-and-industrial lending. He said much of the C&I growth reported across the industry in 2025 was concentrated in non-depository financial institutions, data centers and other areas in which M&T was not active.
Challenges Loom for Regional Banks as Interest Rates SurgeNow, however, “everything you look at is growing in concert,” he said. Jones estimated that year-over-year loan growth was likely around 6%, adding that middle-market businesses as well as large corporations are spending money. He cited only modest softness in auto lending while describing other areas as moving higher.
On deposits, Jones said consumer checking-account growth remains an important long-term foundation for the franchise, while current balance growth is more heavily driven by commercial customers and is somewhat rate-sensitive. Strong loan growth has led the bank to pay somewhat more for deposits outside of demand deposit accounts, he said, but he said such pricing is appropriate when relationships generate attractive returns across multiple services.
Asked about net interest margin expectations, Jones did not provide a new figure, saying that “whatever Daryl says is what is the truth,” referring to another company executive. He said M&T has historically had a relatively high margin but also a higher expense base because of its investment in technology and process improvements.
Fee Businesses and Real Estate Capabilities Jones said M&T's efforts over the past five years to reduce balance-sheet exposure to commercial real estate while expanding customer capabilities have contributed to stronger fee income. He said the bank's real estate-related businesses have enabled it to continue serving customers without retaining all related loans on its own balance sheet.
Capital-markets activity has also supported fees, according to Jones. He cited Wilmington Trust Institutional Client Services, which earns fees related to securitizations, as well as M&T Realty Capital Corporation and partnerships with private loan markets.
Jones said that in the prior year, M&T originated $6.5 billion of commercial mortgages held on its balance sheet and another $6.5 billion placed into the market. “The profile is really different,” he said, referring to the combination of a robust capital-markets environment and the bank's evolving business model.
For Wilmington Trust, Jones said M&T is evaluating whether it can add capabilities and reach additional wealth-management customer segments. He said the business has traditionally focused on wealth preservation, while a newer group of clients may be more focused on deploying wealth after building businesses or realizing liquidity events.
Technology, AI and Operational Modernization Jones said technology must be central to a bank's strategy and described M&T's operational-excellence initiative as a broad effort to re-engineer processes for speed, simplicity and customer service.
He said the bank is applying those principles to credit underwriting, including efforts to speed decisions and use technologies such as artificial intelligence for anomaly detection. Such tools could help identify changes in a commercial customer's activity sooner and allow the bank to respond more quickly to potential credit issues.
M&T has increased the pace of customer-affecting releases from roughly 15,000 annually five or six years ago to 65,000 in the most recent year, Jones said. The bank is also investing in artificial intelligence training and experimentation:
About 16,000 of M&T's 22,000 employees have become proficient in some form of AI, according to Jones. The bank is reviewing how outsourced technology vendors are incorporating AI capabilities. M&T is conducting experimental work using large language models, including potential credit-related applications. Jones said M&T currently uses AI in areas including cybersecurity, fraud and credit, with customer-facing applications likely to expand over time. He also cautioned that widespread AI adoption could eventually make banks substantially more efficient but compress industry margins if those savings are competed away through customer pricing.
Capital, Credit and M&A Jones said M&T repurchased 9% of the company in 2025 at roughly $183 to $184 per share, a period when the bank was less willing to make loans at returns it considered inadequate. With loan growth having improved, he said the company is now focused first on growing its business while also returning excess capital.
He said M&T does not need to raise its capital levels and would seek to deploy any additional capital where it can create the greatest economic value. Still, Jones said he is closely monitoring leverage in the financial system, particularly “hidden leverage” arising from complex and less transparent structures.
On credit, Jones described conditions as healthy and said the bank has no particular C&I or commercial real estate segment that is currently a primary concern. He said management now reviews a different portfolio each week as a routine matter, seeking changes that could signal emerging risks. The bank's reserve-building reflects general conservatism, he said, given the possibility that economic slowing could eventually emerge indirectly in unexpected parts of the portfolio.
Jones said M&T is operationally positioned to absorb an acquisition should an opportunity arise. He said in-market acquisitions that improve local share and density would be especially attractive, particularly in Northeast, Southeast and Mid-Atlantic markets where M&T does not already hold a top-three position.
“Economy is strong,” Jones said near the end of the discussion. While he said interest-rate changes can affect market sentiment, he added that their effects on companies and the broader economy typically take 12 to 15 months to emerge.
About M&T Bank (NYSE:MTB)M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.
The company's offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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BUFFALO, N.Y., Sept. 16, 2026 /PRNewswire/ -- Effective Thursday, September 17, 2026, M&T Bank Corporation ("M&T") (NYSE:MTB) will increase its prime lending rate from 6.75% to 7.00%.
M&T Bank Corporation (MTB) Barclays 24th Annual Global Financial Services Conference September 16, 2026 8:15 AM EDT
Company Participants
René Jones - Chairman & CEO
Conference Call Participants
Jason Goldberg - Barclays Bank PLC, Research Division
Presentation
Jason Goldberg
Barclays Bank PLC, Research Division
Continuing along with the presentations. Very pleased to have M&T Bank. From the company, Chairman and CEO, Rene Jones. Morning, Rene.
René Jones
Chairman & CEO
Morning, Jason.
Jason Goldberg
Barclays Bank PLC, Research Division
Maybe the best place to start. I've obviously covered M&T for a long time, and I think...
René Jones
Chairman & CEO
How long is that?
Jason Goldberg
Barclays Bank PLC, Research Division
Long time.
Question-and-Answer Session
Jason Goldberg
Barclays Bank PLC, Research Division
I guess one of the things that I think kind of differentiates the company and allowed for kind of a long-term track record is the combination of conservative credit underwriting, relationship-driven banking, very disciplined capital allocation and customer selection. Just as the company has grown significantly over the past decade, just how do you preserve that culture and operating philosophy in a banking environment that seems to be ever increasingly competitive?
René Jones
Chairman & CEO
Yes. It is interesting. I might think about it to say it a different way, which is that if you go back over time, I think that one of the biggest assets we had in history was this large ownership base. 20% to 25% of the shares were owned by Bob, by the Board and employees. And of course, Buffett was in for 30 years. And so you had this ability and this desire to think about like long-term decision-making. And even though it took a long time for anybody to realize that Bob was actually really not about banking. He was about building communities and he thought it was like one of the best seats you
Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
Headquartered in Buffalo, M&T Bank Corporation (MTB - Free Report) is a Finance stock that has seen a price change of 16.82% so far this year. The company is currently shelling out a dividend of $1.50 per share, with a dividend yield of 2.55%. This compares to the Banks - Major Regional industry's yield of 2.92% and the S&P 500's yield of 1.42%.
Looking at dividend growth, the company's current annualized dividend of $6.00 is up 5.3% from last year. Over the last 5 years, M&T Bank Corporation has increased its dividend 3 times on a year-over-year basis for an average annual increase of 5.36%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. M&T Bank's current payout ratio is 31%, meaning it paid out 31% of its trailing 12-month EPS as dividend.
MTB is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2026 is $19.45 per share, which represents a year-over-year growth rate of 13.08%.
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. However, not all companies offer a quarterly payout.
High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, MTB is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).
NewEdge Advisors LLC boosted its position in shares of M&T Bank Corporation (NYSE:MTB – Free Report) by 17.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,458 shares of the financial services provider’s stock after purchasing an additional 2,540 shares during the quarter. NewEdge Advisors LLC’s holdings in M&T Bank were worth $4,155,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. LSV Asset Management grew its position in shares of M&T Bank by 14.5% during the 4th quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock worth $78,960,000 after buying an additional 49,500 shares in the last quarter. Danske Bank A S purchased a new stake in M&T Bank in the second quarter worth about $34,683,000. Adams Diversified Equity Fund Inc. grew its holdings in M&T Bank by 22.8% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock worth $24,786,000 after acquiring an additional 22,300 shares in the last quarter. Bank of New York Mellon Corp bought a new position in M&T Bank during the 2nd quarter worth about $330,978,000. Finally, Allstate Corp increased its position in M&T Bank by 99.4% during the 4th quarter. Allstate Corp now owns 11,242 shares of the financial services provider’s stock valued at $2,265,000 after purchasing an additional 5,604 shares during the period. 84.68% of the stock is owned by institutional investors.
Insider Activity at M&T Bank In other news, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the sale, the director directly owned 3,649 shares of the company’s stock, valued at $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.44% of the company’s stock.
Analysts Set New Price Targets MTB has been the subject of several recent research reports. Morgan Stanley upgraded shares of M&T Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $253.00 to $304.00 in a report on Tuesday, September 8th. Robert W. Baird lifted their price objective on shares of M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of M&T Bank in a research note on Tuesday, September 1st. Keefe, Bruyette & Woods upped their target price on M&T Bank from $242.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, July 16th. Finally, Evercore set a $260.00 target price on M&T Bank in a research report on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $255.97. Get Our Latest Report on MTB
M&T Bank Stock Down 1.2% Shares of M&T Bank stock opened at $235.06 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The company has a market cap of $33.95 billion, a P/E ratio of 12.41, a PEG ratio of 1.35 and a beta of 0.56. The firm’s 50 day moving average price is $244.71 and its 200-day moving average price is $226.51. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $255.95.
M&T Bank (NYSE:MTB – Get Free Report) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same period last year, the firm earned $4.28 earnings per share. On average, sell-side analysts predict that M&T Bank Corporation will post 19.45 EPS for the current fiscal year.
M&T Bank Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.6%. M&T Bank’s dividend payout ratio (DPR) is 31.68%.
About M&T Bank (Free Report)
M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.
The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.
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Concurrent Investment Advisors LLC cut its position in M&T Bank Corporation (NYSE:MTB – Free Report) by 51.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,820 shares of the financial services provider’s stock after selling 4,082 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in M&T Bank were worth $909,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Bogart Wealth LLC boosted its position in M&T Bank by 233.3% during the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 84 shares during the period. First Bancorp Inc ME acquired a new position in shares of M&T Bank in the 2nd quarter worth approximately $25,000. Triumph Capital Management bought a new stake in shares of M&T Bank in the 3rd quarter worth approximately $32,000. Elyxium Wealth LLC bought a new stake in shares of M&T Bank in the 4th quarter worth approximately $33,000. Finally, Bank of Jackson Hole Trust lifted its stake in M&T Bank by 38.7% during the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 60 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In Several brokerages recently commented on MTB. Morgan Stanley upgraded shares of M&T Bank from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $253.00 to $304.00 in a research report on Tuesday. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price objective on shares of M&T Bank in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their target price on shares of M&T Bank from $242.00 to $250.00 and gave the company a “market perform” rating in a research note on Thursday, July 16th. DA Davidson raised their target price on M&T Bank from $263.00 to $266.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a research report on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.97.
View Our Latest Stock Analysis on MTB M&T Bank Stock Up 0.3% NYSE MTB opened at $239.75 on Friday. M&T Bank Corporation has a twelve month low of $174.76 and a twelve month high of $255.95. The stock has a market cap of $34.63 billion, a PE ratio of 12.66, a PEG ratio of 1.36 and a beta of 0.56. The firm has a 50-day simple moving average of $244.86 and a 200 day simple moving average of $226.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96.
M&T Bank (NYSE:MTB – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm earned $4.28 EPS. On average, research analysts forecast that M&T Bank Corporation will post 19.45 EPS for the current year.
M&T Bank Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, September 1st. M&T Bank’s payout ratio is presently 31.68%.
Insider Buying and Selling In other news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the sale, the director owned 3,649 shares in the company, valued at $879,554.96. This represents a 14.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.44% of the company’s stock.
M&T Bank Profile (Free Report)
M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.
The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.
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Amundi lifted its holdings in M&T Bank Corporation (NYSE:MTB – Free Report) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 388,916 shares of the financial services provider’s stock after acquiring an additional 27,795 shares during the period. Amundi owned 0.27% of M&T Bank worth $92,566,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTB. California State Teachers Retirement System lifted its holdings in M&T Bank by 23,449.1% in the 2nd quarter. California State Teachers Retirement System now owns 50,491,441 shares of the financial services provider’s stock worth $12,017,468,000 after purchasing an additional 50,277,032 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in M&T Bank during the second quarter valued at $330,978,000. Davis Asset Management L.P. bought a new stake in M&T Bank in the 2nd quarter valued at $97,584,000. Danske Bank A S bought a new stake in M&T Bank in the 3rd quarter valued at $29,612,000. Finally, Russell Investments Group Ltd. lifted its stake in M&T Bank by 35.4% in the 4th quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider’s stock worth $79,954,000 after purchasing an additional 103,692 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.
Analysts Set New Price Targets Several research analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and set a $300.00 price objective on shares of M&T Bank in a report on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $242.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, July 16th. Barclays boosted their target price on M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Royal Bank Of Canada increased their price target on M&T Bank from $230.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Finally, DA Davidson raised their price target on M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $255.97.
Check Out Our Latest Report on MTB M&T Bank Stock Performance Shares of NYSE:MTB opened at $238.02 on Thursday. M&T Bank Corporation has a 52 week low of $174.76 and a 52 week high of $255.95. The stock has a market capitalization of $34.38 billion, a P/E ratio of 12.57, a PEG ratio of 1.35 and a beta of 0.56. The firm has a fifty day simple moving average of $244.84 and a two-hundred day simple moving average of $226.12. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53.
M&T Bank (NYSE:MTB – Get Free Report) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the company earned $4.28 EPS. On average, analysts expect that M&T Bank Corporation will post 19.45 earnings per share for the current fiscal year.
M&T Bank Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 1st. M&T Bank’s payout ratio is presently 31.68%.
Insider Transactions at M&T Bank In other M&T Bank news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the sale, the director directly owned 3,649 shares in the company, valued at $879,554.96. This represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.44% of the stock is currently owned by company insiders.
M&T Bank Profile (Free Report)
M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.
The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.
Read More Five stocks we like better than M&T Bank Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer Sovereign AI: Palantir and Nebius Cut the Cloud Cord Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Corporation (NYSE:MTB – Free Report).
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Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
Based in Buffalo, M&T Bank Corporation (MTB - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 17.77%. Currently paying a dividend of $1.50 per share, the company has a dividend yield of 2.53%. In comparison, the Banks - Major Regional industry's yield is 2.85%, while the S&P 500's yield is 1.34%.
Looking at dividend growth, the company's current annualized dividend of $6.00 is up 5.3% from last year. Over the last 5 years, M&T Bank Corporation has increased its dividend 3 times on a year-over-year basis for an average annual increase of 5.36%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. M&T Bank's current payout ratio is 31%, meaning it paid out 31% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, MTB expects solid earnings growth. The Zacks Consensus Estimate for 2026 is $19.43 per share, representing a year-over-year earnings growth rate of 12.97%.
From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. It's important to keep in mind that not all companies provide a quarterly payout.
High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, MTB is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).
BUFFALO, N.Y., Aug. 26, 2026 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE: MTB) will participate in the Barclays Global Financial Services Conference being held in New York City.
, /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE: MTB) announced that it has declared a quarterly cash dividend of $1.50 per share on its common stock. The dividend will be payable September 30, 2026, to shareholders of record at the close of business on September 1, 2026.
M&T has also declared a quarterly cash dividend of $99.38 per share (equivalent to $0.24845 per depositary share) on its Perpetual 6.625% Non-Cumulative Preferred Stock, Series L ("Series L Preferred Stock"). The preferred stock dividend will be payable September 15, 2026 to shareholders of record at the close of business on September 1, 2026.
About M&T
M&T is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information about M&T Bank, visit www.mtb.com.
It has been about a month since the last earnings report for M&T Bank Corporation (MTB - Free Report) . Shares have lost about 0.3% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is M&T Bank due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for M&T Bank Corporation before we dive into how investors and analysts have reacted as of late.
M&T Bank Q2 Earnings Beat Estimates on Strong NII & Fee Income GrowthM&T Bank reported second-quarter 2026 net operating earnings per share of $5.35, which beat the Zacks Consensus Estimate of $4.66. The bottom line compared favorably with earnings of $4.28 in the year-ago quarter.
Results were aided by higher net interest income and a rise in non-interest income on a year-over-year basis, along with loan growth. However, higher expenses acted as headwinds.
Net income available to common shareholders was $781 million, up 15% from the prior-year quarter.
Revenues & Expenses Rise Y/Y
The company’s quarterly revenues were $2.53 billion, surpassing the Zacks Consensus Estimate of $2.48 billion. The reported figure increased 5.7% year over year.
NII (tax-equivalent) rose 4.8% year over year to $1.80 billion. The increase reflected growth in average loans and investment securities, along with favorable repricing of earning assets and interest-bearing liabilities, including an improved contribution from interest-rate swap agreements.
Total non-interest income was $740 million, up 8.3% year over year. The rise was driven by higher service charges on deposit accounts, trust income, brokerage services income, trading account, and other non-hedging derivative gains, and other revenues from operations.
Total non-interest expenses were $1.35 billion, up 1% year over year. The increase was due to higher salaries and employee benefits costs, outside data processing and software costs, professional and other services costs, and advertising and marketing expenses.
The efficiency ratio was 52.8%, down from 55.2% in the year-earlier quarter. A lower ratio indicates a rise in profitability.
Loan & Deposit Balances Increase
Total loans were $143.2 billion as of June 30, 2026, up 2.3% from the prior quarter. Total deposits increased 3.1% sequentially to $168.9 billion.
Credit Quality Improves
Net charge-offs decreased 25.9% to $80 million from the prior-year quarter.
The company recorded a provision for credit losses of $120 million, down 4% from the year-ago quarter.
Non-performing assets declined 23.2% year over year to $1.23 billion.
The ratio of non-accrual loans to total loans was 0.84%, which declined year over year from 1.16%.
Capital Position Mixed & Profitability Ratios Improve Y/Y
M&T Bank’s estimated Common Equity Tier 1 ratio was 10.19%, down from 10.99% as of second-quarter 2025. The tangible equity per share was $117.41, up from $112.48 in the second quarter of 2025.
The company's return on average tangible assets (annualized) and average tangible common shareholder equity were 1.59% and 18.57%, respectively, compared with 1.44% and 15.54% in the prior-year quarter.
Outlook2026
Management expects taxable-equivalent NII to be in the lower half of the $7.2-$7.35 billion range. The company expects NIM to be in the high 3.60% range. The outlook remains dependent on loan growth, deposit trends and the shape of the yield curve.
Non-interest income is expected to be between $2.8 billion and $2.85 billion, revised upward from the prior guidance of $2.68-$2.77 billion. The increase reflects broad-based fee income growth and higher mortgage sub-servicing income beginning in the third quarter.
Management expects 2026 GAAP expenses, including intangible amortization, to be at the high end of its $5.5-$5.6 billion guidance range. This reflects continued investments in enterprise initiatives despite disciplined control of non-investment spending.
Average loan balances are expected to be $141-$143 billion, revised upward from the prior projection of $140-$142 billion. The growth reflects commercial loan momentum, improving CRE balances and continued consumer growth. Average deposit balances are anticipated to remain at $165-$167 billion.
The net charge-off rate is projected to be around 37 basis points, revised downward from the prior expectation of around 40 basis points.
The CET1 ratio is expected to be between 10% and 10.5%, compared with the prior expectation of around 10%.
The tax rate is anticipated to be around 24% for 2026.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates review.
VGM ScoresAt this time, M&T Bank has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the top 40% for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook M&T Bank has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Buffalo, New York-headquartered M&T Bank has appointed Fannie Mae veteran Kalyana Bedhu as the bank’s new head of artificial intelligence (AI) engineering, M&T Bank Chief Information Officer Linda Tai said in a Tuesday (Aug. 11) post on LinkedIn.
“He will lead the engineering, platforms, architecture and governance capabilities that enable AI innovation and adoption across the bank,” Tai said in the post.
Bedhu was most recently with Fannie Mae, where he served as AI/ML (machine learning) leader and accelerated model transformation with AI/ML and generative AI, according to his LinkedIn profile.
At Fannie Mae, Bedhu scaled enterprise AI capabilities in a highly regulated environment, Tai said in her post.
Before joining Fannie Mae, Bedhu served as engineering leader, AI/ML at Microsoft, and held three positions at Ericsson, most recently head of artificial intelligence, per the profile.
Bedhu said in a Tuesday post on LinkedIn: “Excited to join a team with a strong legacy, firing on all cylinders to modernize and build what’s next. Looking forward to learning from the team, contributing to the journey and helping turn the possibilities of AI into meaningful impact for M&T and our customers.”
M&T Bank provides a branch and ATM network that spans the eastern United States from Maine to Virginia and Washington, D.C. In addition, M&T Bank and Wilmington Trust-affiliated companies provide trust-related services in select markets in the U.S. and abroad, according to a July 15 press release.
M&T Bank employs 2,000 technologists across more than 300 teams and spent over $1.2 billion on technology in 2025, M&T Bank Chairman and CEO René Jones wrote in an annual message to shareholders that was released in March.
“Our focus remains on developing talent and strengthening reliability, availability, resiliency and agility,” Jones said in the message, speaking of what he called the bank’s technology transformation. “Our strength comes from the expertise of our people and the disciplined way we leverage technology to deliver great banking fundamentals.”
The PYMNTS Intelligence report “Financial Services Pulls Ahead in the Enterprise AI Race” found that the financial services sector has deeply embedded AI into tasks such as revenue recognition, credit scoring and sales forecasting.
, /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE:MTB) announced today that it plans to host conference calls to review 2028 quarterly financial results on the following dates:
First quarter 2028 – Monday, April 17, 2028, at 8:00 a.m. (ET) Second quarter 2028 – Tuesday, July 18, 2028, at 8:00 a.m. (ET) Third quarter 2028 – Tuesday, October 17, 2028, at 8:00 a.m. (ET) Fourth quarter 2028 – Wednesday, January 17, 2029, at 8:00 a.m. (ET) M&T will issue a detailed announcement prior to each quarter's close confirming the date and time of the earnings release and conference call for that quarter.
About M&T
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information on M&T Bank, visit www.mtb.com.
M&T Bank Corporation is reaffirmed as a Buy, driven by robust Q2 2026 results and ongoing operational excellence. MTB delivered 5.7% revenue growth and 25.5% EPS growth, outperforming consensus, with efficiency and asset quality improvements supporting the thesis. Commercial and industrial loan growth, floating-rate exposure, and reinvestment at higher yields underpin MTB's forward earnings and dividend growth outlook.
All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.
Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
Based in Buffalo, M&T Bank Corporation (MTB - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 25.38%. The company is paying out a dividend of $1.50 per share at the moment, with a dividend yield of 2.38% compared to the Banks - Major Regional industry's yield of 2.79% and the S&P 500's yield of 1.31%.
Looking at dividend growth, the company's current annualized dividend of $6.00 is up 5.3% from last year. Over the last 5 years, M&T Bank Corporation has increased its dividend 3 times on a year-over-year basis for an average annual increase of 5.36%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. M&T Bank's current payout ratio is 31%, meaning it paid out 31% of its trailing 12-month EPS as dividend.
MTB is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2026 is $19.42 per share, representing a year-over-year earnings growth rate of 12.91%.
From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. It's important to keep in mind that not all companies provide a quarterly payout.
High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, MTB is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).
Shares of M&T Bank Corporation (NYSE:MTB – Get Free Report) have received an average rating of “Hold” from the twenty-two brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $251.4250.
A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price target on the stock. in a research report on Thursday. Evercore set a $260.00 price objective on M&T Bank in a report on Monday, July 6th. Piper Sandler boosted their price objective on M&T Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Barclays upped their price objective on shares of M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group increased their target price on shares of M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, April 6th.
Check Out Our Latest Analysis on MTB
M&T Bank Trading Up 1.4% NYSE:MTB opened at $249.36 on Thursday. M&T Bank has a 12 month low of $174.76 and a 12 month high of $255.00. The company has a current ratio of 0.89, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $230.22 and its 200 day moving average is $220.56. The stock has a market capitalization of $36.52 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57.
M&T Bank (NYSE:MTB – Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the company earned $4.28 earnings per share. Sell-side analysts expect that M&T Bank will post 19.42 earnings per share for the current year.
M&T Bank announced that its board has initiated a stock repurchase plan on Tuesday, March 31st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 16.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Insider Activity at M&T Bank In related news, EVP Christopher E. Kay sold 3,105 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the sale, the executive vice president directly owned 6,753 shares in the company, valued at approximately $1,462,024.50. This represents a 31.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.44% of the company’s stock.
Institutional Investors Weigh In On M&T Bank Hedge funds and other institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC lifted its position in shares of M&T Bank by 233.3% during the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 84 shares in the last quarter. Triumph Capital Management purchased a new position in shares of M&T Bank in the third quarter valued at $32,000. Elyxium Wealth LLC purchased a new position in shares of M&T Bank in the fourth quarter valued at $33,000. Bank of Jackson Hole Trust raised its stake in shares of M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 60 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of M&T Bank during the 2nd quarter valued at $51,000. Institutional investors own 84.68% of the company’s stock.
About M&T Bank (Get Free Report)
M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.
Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.
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M&T Bank (MTB 0.05%) knocked it out of the park with its second-quarter earnings on July 15. Revenue was reported as $2.53 billion, up 5.7% year over year, and earnings per share (EPS) were a record $5.35, up 25% over the same period a year ago. The EPS figure beat analysts' predictions by $0.66.
The company is a large regional bank that acts like a community lender, but with more than $216 billion in assets, it has the scale to handle massive commercial transactions. Because its footprint is heavily concentrated in the Northeast and Mid-Atlantic, stretching from New England through the Carolinas, its primary competition comes from other dominant regional players, neighboring southern giants, and East Coast retail powerhouses.
M&T reported record second-quarter net income of $818 million on July 15, up 14.2% from the same period last year. Net interest income of $1.79 billion was up 4.6% year over year. The increases were driven by robust net interest income and a jump in non-interest fee income from trust and wealth management services.
M&T Bank stock is up more than 23% so far this year. Here are three reasons it can hold that momentum:
Image source: Getty Images.
Unprecedented loan growth and revenue stability The bank is experiencing its strongest organic lending momentum in more than a decade. In the second quarter, M&T's loans climbed by $3 billion sequentially to $141.4 billion, marking its strongest core quarterly loan growth since 2012. This growth was widespread, with management reporting that 90% of its commercial and industrial business lines expanded quarter over quarter.
M&T increased lending volume without sacrificing profitability; its net interest margin (NIM) remained robust at 3.70%, demonstrating that the bank is highly effective at pricing loans favorably in the current interest rate environment.
The bank lifted its full-year lending target by $1 billion and said it is expecting loans of $141 billion to $143 billion at year's end.
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Rapidly improving credit quality and lower risk For regional banks, credit risk is always a primary concern for investors, but M&T's latest quarter showed significant improvements in asset health. The bank's provision for credit losses fell sequentially to $120 million from $140 million in the first quarter.
Even more encouragingly, annualized net charge-offs dropped to just 23 basis points of average loans, down from 31 basis points in the prior quarter and from 32 basis points in the same quarter a year ago. Non-accrual loans also declined to 0.84%, down from 1.16% in the second quarter of 2025. This positive credit trajectory suggests that the bank's disciplined, conservative underwriting continues to shield it from broader macroeconomic pressures, making its high-yielding loan book highly resilient.
The stock is shareholder-friendly The company has a dividend that, at the stock's current share price, yields 2.41%, more than double the S&P 500 average yield. The company raised the quarterly dividend to $1.50 in the third quarter of 2025, an increase of 11%. It has raised its dividend for nine consecutive years.
It also repurchased $465 million of stock in the second quarter, after buying back $1.25 billion in the first quarter. In March, it announced a long-term buyback plan of up to $5 billion in M&T shares. The stock repurchases show the company's confidence and help maintain its share price.
One obvious caveat Bank stocks can be great long-term investments, but it is important to consider that they are cyclical and particularly susceptible to interest rate volatility. M&T Bank and other banks are having good runs right now, but if the economy were to falter, they would be among the first stocks to lose momentum.
M&T Bank also has greater exposure to the commercial real estate (CRE) sector than some of its peers, though it trimmed its CRE balances by 7% year over year to $23.6 billion. However, it did grow CRE loans slightly compared to the first quarter. While management highlighted that this growth is driven by healthier multifamily and industrial properties, the regional banking sector at large remains under a microscope regarding commercial property loans.
Any spike in defaults, particularly in the struggling office or retail segments of its Northeast/Mid-Atlantic footprint, would force M&T to aggressively ramp up its loan loss provisions.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
M&T Bank Corp (NYSE:MTB) reported upbeat earnings for the second quarter on Wednesday.
The company posted quarterly earnings of $5.35 per share which beat the analyst consensus estimate of $4.66 per share. The company reported quarterly sales of $2.532 billion which beat the analyst consensus estimate of $2.464 billion.
M&T Bank shares rose 2.8% to close at $248.53 on Wednesday.
These analysts made changes to their price targets on M&T Bank following earnings announcement.
Baird analyst David George maintained the stock with a Neutral and raised the price target from $240 to $250. Barclays analyst Jason Goldberg maintained the stock with an Equal-Weight rating and raised the price target from $236 to $267. Keefe, Bruyette & Woods analyst David Konrad maintained the stock with a Market Perform and boosted the price target from $242 to $250. Considering buying MTB stock? Here’s what analysts think:
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Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at M&T Bank Corporation (MTB - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. M&T Bank Corporation currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for MTB that show why this company shows promise as a solid momentum pick.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For MTB, shares are up 1.45% over the past week while the Zacks Banks - Major Regional industry is up 1.35% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 5.91% compares favorably with the industry's 5.91% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of M&T Bank Corporation have increased 10.48% over the past quarter, and have gained 22.59% in the last year. On the other hand, the S&P 500 has only moved 8.52% and 21.6%, respectively.
Investors should also pay attention to MTB's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. MTB is currently averaging 1,056,760 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with MTB.
Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost MTB's consensus estimate, increasing from $18.62 to $18.81 in the past 60 days. Looking at the next fiscal year, 4 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineTaking into account all of these elements, it should come as no surprise that MTB is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep M&T Bank Corporation on your short list.
SummaryM&T Bank delivered strong Q2 2026 results, beating EPS and revenue expectations despite macroeconomic headwinds.MTB's net interest margin remained robust at 3.70%, with management guiding 2026 net interest income of $7.2–$7.35 billion.Loan growth was healthy, led by commercial, industrial, and real estate segments, while deposit levels stabilized with only a minor sequential dip.Asset quality improved, net charge-offs declined, and shareholder returns were enhanced through $465 million in buybacks and a 2.5% dividend yield.Looking for a helping hand in the market? Members of BAD BEAT Investing get exclusive ideas and guidance to navigate any climate. Learn More » JHVEPhoto/iStock Editorial via Getty Images
In today’s column, we pick back up our early earnings season regional bank coverage with M&T Bank (MTB). As a reminder, M&T Bank is one of the larger regional players in our coverage universe. While a few smaller players have
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in MTB over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
