TD Cowen resumes coverage of M&T Bank with Hold rating, $245 price target

M&T Bank Corp (MTB) reported strong commercial real estate (CRE) loan growth in Q3 2026, with CFO Daryl Bible expecting mid-single-digit growth despite higher interest rates. Criticized assets may decline slightly near-term but could face pressure if rates remain high. Loan pricing increased by 10 basis points, and fee income is expected to grow, driven by mortgage servicing and capital markets. M&A remains a priority, with active discussions but no imminent deals.

M&T Bank (MTB) reported Q3 2026 earnings of $5.08 per share, beating estimates. Revenue rose 1% to $2.55B, driven by higher net interest income. Shares fell 1.2% due to higher expenses and lower non-interest income. Net income declined 2.9% year-over-year to $732M. The company expects Q4 NII of $1.83B-$1.85B and fee income of $710M-$730M.

M&T Bank reported Q3 2026 earnings with solid loan growth and deposit expansion, reducing short-term borrowings by $2.8 billion. Net interest margin compressed by 5 basis points due to lower non-accrual interest and higher funding costs. Commercial real estate grew by 7%, and the bank transferred $8.3 billion in mortgage-backed securities to held-to-maturity. Q4 guidance projects net interest income of $1.83-$1.85 billion, with a 17% ROTCE target for 2027.

M&T Bank (MTB) reported Q3 2026 earnings with diluted GAAP EPS of $5.04, down from $5.32 in Q2. Net income was $775M, with ROA at 1.4% and ROCE at 11.44%. Loan growth was 2%, driven by commercial real estate and consumer loans. The bank also highlighted AI initiatives and community investments, including $850K raised for cancer research.

M&T Bank (MTB) reported Q3 earnings, projecting modest loan growth and average loans of $145B-$146B for Q4. Deposits rose $3.3B to $166.8B, reducing short-term borrowings. Net interest income remained stable at $1.8B, with a margin decline of 5 basis points. Noninterest income increased slightly, while expenses rose $44M. Asset quality remained stable, with net charge-offs at $127M. The bank expects Q4 net interest income of $1.83B-$1.85B and a CET1 ratio of 10%-10.25%.

M&T Bank (NYSE:MTB) reported Q3 2026 earnings of $5.08 per share, beating estimates but slipping 0.3% premarket due to margin pressure. Revenue was $2.54B, up 1% YoY. Net interest margin declined 5bps to 3.65%. The bank maintained strong capital levels and repurchased $323M in shares.