Financials M&T Bank Corporation

Equities

MTB

US55261F1049

Banks

Real-time Estimate Cboe BZX 11:07:42 2024-06-10 am EDT 5-day change 1st Jan Change
143.1 USD -2.54% Intraday chart for M&T Bank Corporation -3.37% +4.54%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 22,403 16,332 19,763 25,039 22,750 24,498 - -
Enterprise Value (EV) 1 22,403 16,332 19,763 25,039 22,750 24,498 24,498 24,498
P/E ratio 12.3 x 12.8 x 11.1 x 12.6 x 8.68 x 10.4 x 9.09 x 8.4 x
Yield 2.42% 3.46% 2.93% 3.31% 3.79% 3.61% 3.72% 3.93%
Capitalization / Revenue 3.62 x 2.74 x 3.3 x 3.06 x 2.36 x 2.67 x 2.58 x 2.53 x
EV / Revenue 3.62 x 2.74 x 3.3 x 3.06 x 2.36 x 2.67 x 2.58 x 2.53 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.53 x 1.09 x 1.22 x 1.05 x 0.91 x 0.93 x 0.87 x 0.81 x
Nbr of stocks (in thousands) 131,977 128,293 128,685 172,613 165,960 166,854 - -
Reference price 2 169.8 127.3 153.6 145.1 137.1 146.8 146.8 146.8
Announcement Date 1/23/20 1/21/21 1/20/22 1/19/23 1/18/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 6,192 5,955 5,992 8,179 9,643 9,190 9,485 9,684
EBITDA - - - - - - - -
EBIT 1 2,789 2,579 2,445 3,472 4,457 3,909 4,106 4,148
Operating Margin 45.04% 43.31% 40.81% 42.45% 46.22% 42.53% 43.28% 42.83%
Earnings before Tax (EBT) 1 2,547 1,770 2,455 2,611 3,619 3,195 3,511 3,672
Net income 1 1,850 1,279 1,777 1,891 2,636 2,368 2,564 2,666
Net margin 29.87% 21.48% 29.66% 23.13% 27.34% 25.77% 27.03% 27.53%
EPS 2 13.75 9.940 13.80 11.53 15.79 14.11 16.15 17.48
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 4.100 4.400 4.500 4.800 5.200 5.307 5.461 5.769
Announcement Date 1/23/20 1/21/21 1/20/22 1/19/23 1/18/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 1,512 1,445 1,983 2,242 2,509 2,405 2,602 2,335 2,300 2,260 2,277 2,314 2,327 2,317 2,347
EBITDA - - - - - - - - - - - - - - -
EBIT 1 604.7 503.4 984.5 1,017 1,150 1,047 1,084 1,057 1,043 862 982.6 1,010 1,016 938.4 1,028
Operating Margin 39.98% 34.84% 49.65% 45.35% 45.82% 43.51% 41.65% 45.27% 45.35% 38.14% 43.15% 43.64% 43.67% 40.51% 43.81%
Earnings before Tax (EBT) 1 599.9 475.3 277.7 847.5 1,011 926.2 1,160 907 625 664 818.3 852.9 863.9 776.5 857.5
Net income 1 434.2 339.6 192.2 620.6 739.1 675.5 840.5 664 457 505 594.5 620.5 630.6 565 627
Net margin 28.71% 23.5% 9.7% 27.68% 29.46% 28.08% 32.3% 28.44% 19.87% 22.35% 26.11% 26.81% 27.1% 24.39% 26.72%
EPS 2 3.370 2.620 1.080 3.530 4.290 4.010 5.050 3.980 2.740 3.020 3.538 3.719 3.809 3.460 3.990
Dividend per Share 2 1.200 1.200 1.200 1.200 1.200 1.300 1.300 1.300 1.300 1.300 1.312 1.338 1.340 1.328 1.331
Announcement Date 1/20/22 4/20/22 7/20/22 10/19/22 1/19/23 4/17/23 7/19/23 10/18/23 1/18/24 4/15/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 12.9% 8.72% 11.5% 8.67% 11.1% 9.28% 9.95% 10.5%
ROA (Net income/ Total Assets) 1.61% 1% 1.22% 1.05% 1.33% 1.14% 1.23% 1.25%
Assets 1 114,876 127,907 145,655 180,141 198,195 207,848 208,150 213,277
Book Value Per Share 2 111.0 116.0 126.0 138.0 150.0 158.0 170.0 180.0
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 1/23/20 1/21/21 1/20/22 1/19/23 1/18/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
146.8 USD
Average target price
164.6 USD
Spread / Average Target
+12.08%
Consensus
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