M&T Bank stock: Morgan Stanley cuts target to USD 294.00 for M&T Bank stock

Published on 10/23/2026 at 05:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter results included USD 775 million net income on October 16, 2026. For M&T Bank stock, diluted GAAP EPS was USD 5.04.

Analyst target and quarterly earnings

Morgan Stanley cut its target to USD 294.00 on October 19, 2026.
M&T Bank reported USD 775 million of net income for the third quarter of 2026.
M&T Bank had a USD 32.2 billion market capitalization as of October 22, 2026.

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M&T Bank (ISIN US55261F1049) reported USD 775 million of net income and diluted GAAP earnings per share of USD 5.04 for the third quarter of 2026. The latest market development was Morgan Stanley's target reduction to USD 294.00 on October 19, 2026, according to MarketScreener.

Quarterly earnings set the baseline

The bank's third-quarter net income fell 2 percent from USD 792 million in the third quarter of 2025, while diluted earnings per share rose 5 percent from USD 4.82. M&T's official release also showed net interest income of USD 1.793 billion, up from USD 1.761 billion a year earlier, and average loans of USD 143.296 billion, up 5 percent year over year, as reported by M&T Bank.

Three dated developments

On October 16, 2026, M&T Bank released third-quarter results with USD 775 million of net income and USD 5.04 diluted earnings per share. On October 19, 2026, Morgan Stanley cut its target from USD 301.00 to USD 294.00 while retaining its Overweight rating, according to MarketScreener. On October 19, 2026, Citigroup adjusted its target from USD 225.00 to USD 230.00, according to MarketScreener.

What does the target cut mean?

The target change contrasts with M&T's operating progress. Net interest margin was 3.65 percent in the third quarter of 2026, down from 3.70 percent in the second quarter, while the bank's estimated common equity Tier 1 ratio stood at 10.16 percent on September 30, 2026. The release also showed USD 323 million of common-stock repurchases during the quarter, adding a capital-return factor to the earnings picture.

Next date on the calendar

The next reported earnings date is January 19, 2027, according to Simply Wall St. The third-quarter earnings call replay was scheduled to remain available through October 23, 2026, according to the company release.

Valuation stays tied to bank earnings

M&T Bank's market capitalization was USD 32.2 billion as of October 22, 2026. The same market data showed a 52-week range of USD 179.32 to USD 255.95, giving the revised Morgan Stanley target a direct valuation context against the bank's recent trading history.

Stock context

The last available home-market quote was USD 222.83 on the NYSE on October 22, 2026 at 4:00 p.m. ET. That leaves the Morgan Stanley target of USD 294.00 USD 71.17 above the quoted level, while the third-quarter figures point to higher earnings per share alongside a lower net interest margin.