Valued at a market cap of $30.9 billion, Buffalo, New York-based M&T Bank Corporation (MTB) is a prominent bank holding company founded in 1856. M&T Bank's offerings include loans, deposit products, investment services, and financial management solutions, emphasizing a comprehensive approach to meeting diverse financial needs.

Companies valued at $10 billion or more are generally considered “large-cap” stocks, and M&T Bank fits this criterion perfectly. The company serves small businesses, middle-market, and large commercial customers, as well as individual clients, through segments including Business Banking; Commercial Banking; and Institutional Services and Wealth Management. 

Despite experiencing a 17.5% decline from its 52-week high of $225.70 reached in November, the company has seen its shares gaining nearly 7% over the past three months. This performance outpaced the iShares U.S. Regional Banks ETF (IAT), which rose 3.6% during the same period.

In the longer term, MTB's shares have risen 35.8% on a YTD basis, outperforming IAT's 21.1% surge. Over the past 52 weeks, M&T Bank has gained 35.8%, contrasting with IAT's 19.1% return over the same period.

Despite a few fluctuations, MTB has traded above both its 50-day and 200-day moving averages since last year, suggesting a bullish price trend. But, recently, the stock has fallen below its 50-day moving average.

M&T Bank's shares surged 5% on Oct. 17 due to better-than-expected earnings in its Q3 2024 results, with net operating EPS of $4.08, surpassing the consensus estimate. The strong performance was driven by a rise in loans, leases, and non-interest income, including higher trust income and mortgage banking revenues. Despite declining net interest income (NII) and rising expenses, the company reported a 1.5% increase in net income available to common shareholders. Additionally, M&T Bank's capital position improved with a higher Common Equity Tier 1 ratio, further boosting investor confidence.

In comparison, rival Citizens Financial Group, Inc. (CFG) has slightly underperformed MTB, gaining 33.2% on a YTD basis and 31.5% over the past 52 weeks.

Despite MTB's outperformance over the past year, analysts are cautiously optimistic about the stock's prospects. The stock has a consensus rating of “Moderate Buy” from the 19 analysts covering it, and it is currently trading below the mean price target of $228.81.