Correction, 18 September 2026: an earlier version of this post described April 15 as the end of the quarter. It is the date the results were reported.
What changed
$MTB reported results on April 15, 2026, and the headline numbers were strong. EPS came in at $4.13, up from $3.32 in the same period a year earlier — a 24.4% year-over-year increase. Revenue grew 5.7% over the same stretch. Both figures point to a bank that is expanding its bottom line meaningfully faster than its top line, which typically signals improving operating leverage or tighter cost control.
The stock trades at $240.74 with a trailing P/E of 13.6 and a forward P/E of 13.0, suggesting the market expects earnings to tick up further. At a market cap of $35.49B and a dividend yield of 2.5%, $MTB sits in the mid-cap regional bank space with a yield that adds to total return.
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We do not have guidance commentary from management to share at this time.
What it means
The ACCE score for $MTB currently stands at 72 out of 100. Breaking that down: Quality scores highest at 81, Momentum follows at 83, Value sits at 67, and Growth comes in at 56. The Quality and Momentum readings are the standouts here — they align with what the earnings report shows. A net margin of 31.5% and ROE of 10.3% are the kind of fundamentals that drive a high Quality score. An FCF yield of 8.1% adds further weight to that picture.
The 6-model fair value estimate for $MTB is $296.38, which represents a 23.1% premium to the current price of $240.74. That gap is notable. It does not guarantee the stock reaches that level, but it does suggest the current valuation leaves room relative to what multiple valuation frameworks indicate the business is worth.
The 1-year return of 18.6% shows the stock has already moved, but the earnings trajectory — EPS up 24.4% year over year — gives a concrete reason for that move. The analyst consensus target of $245.69 is more conservative than the 6-model fair value, sitting just 2.1% above the current price.
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