With a market cap of $28.8 billion, M&T Bank Corporation (MTB) is a prominent American bank holding company headquartered in Buffalo, New York. Established in 1856, the company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.

Shares of the financial giant have outperformed the broader market over the past year but have underperformed in 2025. MTB stock has surged 20% over the past 52 weeks and has declined 4.6% on a YTD basis. In comparison, the S&P 500 Index ($SPX) has returned 10.1% over the past year and declined 1.3% in 2025.

Narrowing the focus, MTB has lagged behind the Financial Select Sector SPDR Fund’s (XLF) 21% surge over the past 52 weeks and its 3.6% growth this year.

On Apr. 14, MTB shares grew marginally following the release of its Q1 earnings. The company’s total interest income came in at $2.6 billion for the quarter. Moreover, its net interest margin amounted to $3.66%, growing from 3.58% in the previous year’s quarter. Additionally, MTB’s non-GAAP EPS for the quarter rose 9% year-over-year to $3.38 but fell behind the consensus estimates marginally.

For the current year ending in December, analysts expect MTB’s EPS to increase 8.2% year over year to $16.10. Moreover, the company has surpassed analysts’ consensus estimates in three of the past four quarters, while missing on one occasion.

Among the 21 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 11 “Strong Buy” ratings, two “Moderate Buys,” seven “Holds,” and one “Strong Sell.”

The configuration is more bullish than three months ago, when only nine analysts recommended a “Strong Buy.”

On May 19, RBC Capital analyst Gerard Cassidy maintained an "Outperform" rating on M&T Bank stock and set a price target of $200.

MTB’s mean price target of $202.21 indicates a premium of 12.7% from the current market prices. Its Street-high target of $250 suggests a robust 39.3% upside potential from current price levels.