MTB
M&T Bank
PE ratio, current and historical analysis
- Stocks
- Financial Services
- NYSE: MTB
- PE Ratio
As at Jun 22, 2026, the MTB stock has a price-to-earnings ratio of 12.68. This is based on the current EPS of $17.96 and the stock price of $227.73 per share. An increase of 6% has been recorded in the PE ratio compared to the average of 12.0 of the last four quarters.
MTB PE ratio history
The mean historical PE ratio of M&T Bank over the last ten years is 13.04. The current 12.68 P/E ratio is 2.8% lower than the historical average. In the past ten years, MTB's PE ratio peaked in the Mar 2018 quarter at 20.88, with a price of $184.36 and an EPS of $8.83. The Sep 2023 quarter marked the lowest point at 7.22, with a price of $126.45 and an EPS of $17.51.
M&T Bank PE ratio by year
Maximum annual increase: 47.75% in 2024
Maximum annual decrease: -42.73% in 2018
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 11.78 | -7.82% | $201.48 | $17.1 |
| 2024 | 12.78 | 47.75% | $188.01 | $14.71 |
| 2023 | 8.65 | -30.91% | $137.08 | $15.85 |
| 2022 | 12.52 | 12.59% | $145.06 | $11.59 |
| 2021 | 11.12 | -13.19% | $153.58 | $13.81 |
| 2020 | 12.81 | 3.81% | $127.3 | $9.94 |
| 2019 | 12.34 | 9.88% | $169.75 | $13.76 |
| 2018 | 11.23 | -42.73% | $143.13 | $12.75 |
| 2017 | 19.61 | -2.24% | $170.99 | $8.72 |
| 2016 | 20.06 | 19.55% | $156.43 | $7.8 |
| 2015 | 16.78 | -0.24% | $121.18 | $7.22 |
| 2014 | 16.82 | 19.38% | $125.62 | $7.47 |
| 2013 | 14.09 | 8.3% | $116.42 | $8.26 |
| 2012 | 13.01 | 8.6% | $98.47 | $7.57 |
| 2011 | 11.98 | -21.29% | $76.34 | $6.37 |
M&T Bank PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 11.51 | -2.29% | $206.72 | $17.96 |
| Dec 2025 | 11.78 | -2.73% | $201.48 | $17.1 |
| Sep 2025 | 12.11 | -3.2% | $197.62 | $16.32 |
| Jun 2025 | 12.51 | 4.95% | $193.99 | $15.51 |
| Mar 2025 | 11.92 | -6.73% | $178.75 | $15 |
| Dec 2024 | 12.78 | -2.52% | $188.01 | $14.71 |
| Sep 2024 | 13.11 | 17.37% | $178.12 | $13.59 |
| Jun 2024 | 11.17 | 14.21% | $151.36 | $13.55 |
| Mar 2024 | 9.78 | 13.06% | $145.44 | $14.87 |
| Dec 2023 | 8.65 | 19.81% | $137.08 | $15.85 |
| Sep 2023 | 7.22 | -0.41% | $126.45 | $17.51 |
| Jun 2023 | 7.25 | -20.77% | $123.76 | $17.06 |
| Mar 2023 | 9.15 | -26.92% | $119.57 | $13.07 |
| Dec 2022 | 12.52 | -24.53% | $145.06 | $11.59 |
| Sep 2022 | 16.59 | 12.17% | $176.32 | $10.63 |
MTB Price vs fair value
MTB average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
MTB's current P/E ratio is above the 3 and 5-year averages, but it is lower than the 10-year average.
PE comparison
With a P/E of 12.68, MTB stands below the Financial Services sector, the industry and its peers average. But in comparison with its Financial Services sector average of 12.78, M&T Bank's P/E is only 0.8% lower.
MTB PE vs peers
MTB's PE ratio stands lower than its peer stocks BAC and WFC, but it is higher than SHBI's. M&T Bank's current PE ratio of 12.68 is lower than the average of its peers, which is 13.19.
| Stock name | PE ratio | Market cap |
|---|---|---|
| SHBI Shore Bancshares Inc | 12.02 | $752.09M |
| WFC Wells Fargo & Company | 12.82 | $257.45B |
| MTB M&T Bank Corp | 12.88 | $33.86B |
| WTFC Wintrust Financial Corp | 13.01 | $10.62B |
| NBTB Nbt Bancorp Inc | 13.59 | $2.5B |
| BKU BankUnited Inc | 13.64 | $3.57B |
| CBSH Commerce Bancshares Inc | 13.75 | $8.16B |
| PNC Pnc Financial Services Group Inc | 13.86 | $95.84B |
| BAC Bank Of America Corp | 14.23 | $410.96B |
| EGBN Eagle Bancorp Inc | N/A | $861.5M |
Frequently asked questions
What is M&T Bank's PE ratio?
As of Jun 22, 2026, MTB stock has a price to earnings ratio of 12.68.
What is the 3-year average PE ratio for M&T Bank (MTB)?
The average PE ratio for MTB stock over the past 3 years is 10.82.
What is the 5-year average PE ratio for M&T Bank (MTB)?
The average PE ratio for MTB stock over the past 5 years is 11.44.
What is the highest PE ratio for MTB?
Over the last ten years, the quarterly PE ratio reached a historic high of 20.88 in the Mar 2018 quarter.
How does the current PE ratio for MTB compare to its historical average?
MTB's current price to earnings ratio is 2.8% below its 10-year historical average.
How is MTB's PE ratio calculated (M&T Bank PE ratio formula)?
The P/E ratio is calculated by taking the latest stock price and dividing it by the EPS for the last 12 months. As of today (Jun 22, 2026), M&T Bank's stock price is $227.73. The earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $17.96. Therefore, M&T Bank's PE ratio for today is 12.68. PE RATIO(12.68) = STOCK PRICE($227.73) / TTM EPS($17.96)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.