BAC
Bank of America Corporation
BAC has slightly lower modeled downside risk, despite its lower overall score.
MTB
M&T Bank Corporation
MTB has a slight edge over BAC overall on the model score.
BAC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BAC's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BAC.
MTB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
MTB's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like MTB.
BAC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.4x | $39.50 | -22% |
| Forward | 10x | $50.51 | — |
| Current | 12x | $50.51 | — |
| Fair | 13x | $53.81 | +6.5% |
| Expensive | 15x | $62.23 | +23% |
Historical ranges are pointers, not guarantees.
BAC has the edge over MTB in the historical PE scenario, which offers more potential upside but is not a forecast.
MTB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.1x | $174 | -21% |
| Forward | 11x | $220 | — |
| Fair | 12x | $230 | +4.8% |
| Current | 12x | $220 | — |
| Expensive | 14x | $269 | +22% |
Historical ranges are pointers, not guarantees.
MTB's PE is in its fair range at 12x. If earnings grow as analysts expect, today's price would be 11x next year's earnings.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
BAC has the edge over MTB on the outlook, with more favorable revenue expectations.
MTB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect MTB's earnings to grow and its profitability to improve, with its revenue holding steady.
BAC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.92 | +17% |
| Q3 2026 | $4.19 | +14% |
| Q2 2026 | $4.34 | +27% |
| Q1 2026 | $4.02 | +20% |
| Q4 2025 | $3.81 | +19% |
| Q3 2025 | $3.66 | +33% |
| Q2 2025 | $3.41 | +20% |
| Q1 2025 | $3.35 | +16% |
| Q4 2024 | $3.21 | +4.2% |
BAC has the edge over MTB on earnings, with more consistent year-over-year improvement.
MTB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.37 | +6.6% |
| Q3 2026 | $19.11 | +18% |
| Q2 2026 | $18.89 | +22% |
| Q1 2026 | $17.81 | +19% |
| Q4 2025 | $17.00 | +16% |
| Q3 2025 | $16.25 | +20% |
| Q2 2025 | $15.45 | +15% |
| Q1 2025 | $14.94 | +0.9% |
| Q4 2024 | $14.64 | -7.3% |
MTB earned $19.11 per share over the past year, up 18% from the year before.
BAC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $30B | +6.7% |
| Q2 2026 | $31.6B | +19% |
| Q1 2026 | $30.3B | +11% |
| Q4 2025 | $31.2B | +23% |
| Q3 2025 | $28.1B | +11% |
| Q2 2025 | $26.5B | +4.3% |
| Q1 2025 | $27.4B | +6% |
| Q4 2024 | $25.3B | +15% |
BAC has the edge over MTB on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | -3.7 points |
| Q2 2026 | 37% | +7.6 points |
| Q1 2026 | 34% | +4.7 points |
| Q4 2025 | 40% | +12 points |
| Q3 2025 | 34% | +4.8 points |
| Q2 2025 | 29% | -0.7 points |
| Q1 2025 | 30% | +1.5 points |
| Q4 2024 | 28% | +14 points |
BAC's operating margin was 30% last quarter, down 3.7 points from the same quarter a year ago.
MTB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.5B | +0.9% |
| Q2 2026 | $2.5B | +5.7% |
| Q1 2026 | $2.4B | +5.9% |
| Q4 2025 | $2.5B | +3.8% |
| Q3 2025 | $2.5B | +7.8% |
| Q2 2025 | $2.4B | +4.1% |
| Q1 2025 | $2.3B | +2% |
| Q4 2024 | $2.4B | +3.7% |
MTB's revenue has grown year over year for eight quarters in a row: $2.5B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 40% | -1 points |
| Q2 2026 | 42% | +3 points |
| Q1 2026 | 35% | +2.4 points |
| Q4 2025 | 39% | +2.3 points |
| Q3 2025 | 41% | +1.8 points |
| Q2 2025 | 39% | +1.9 points |
| Q1 2025 | 33% | +3.6 points |
| Q4 2024 | 37% | +9.8 points |
MTB has the edge over BAC on profitability, with a higher operating margin.
BAC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$6.5B | -114% |
| Q2 2026 | $29B | +$38.2B |
| Q1 2026 | $41.8B | +$44B |
| Q4 2025 | -$22.9B | -189% |
| Q3 2025 | $46.9B | +$84.2B |
| Q2 2025 | -$9.1B | -150% |
| Q1 2025 | -$2.2B | +$13.4B |
| Q4 2024 | $25.9B | -21% |
BAC's free cash flow was $41.4B over the past year, down 33% from the year before. Free cash flow isn't a meaningful measure for financial services companies like BAC.
MTB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +25% |
| Q2 2026 | $1.3B | +50% |
| Q1 2026 | $1B | +59% |
| Q4 2025 | $523M | -69% |
| Q3 2025 | $1B | +$1B |
| Q2 2025 | $844M | -38% |
| Q1 2025 | $635M | +4.4% |
| Q3 2024 | -$28M | -102% |
MTB has the edge over BAC on cash flow, with more consistent year-over-year improvement.
BAC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -72M shares |
| 1 year | -5.3% | -405M shares |
| 3 years | -11% | -854M shares |
| 5 years | -15% | -1.3B shares |
| Available history | -24% | -2.2B shares |
BAC has 7.2B diluted shares, down 5.3% from a year ago, with $25.6B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $6B |
| Q2 2026 | $6B |
| Q1 2026 | $7.2B |
| Q4 2025 | $6.3B |
| Q3 2025 | $5.3B |
| Q2 2025 | $5.3B |
| Q1 2025 | $4.5B |
| Q4 2024 | $3.5B |
BAC spent $25.6B buying back its own shares over the past year, up 37% from the year before.
MTB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -1.6M shares |
| 1 year | -7.3% | -11.4M shares |
| 3 years | -13% | -21.4M shares |
| 5 years | +13% | +16.3M shares |
| Available history | +8% | +10.7M shares |
MTB has the edge over BAC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $319M |
| Q2 2026 | $460M |
| Q1 2026 | $1.2B |
| Q4 2025 | $502M |
| Q3 2025 | $404M |
| Q2 2025 | $1.1B |
| Q1 2025 | $656M |
| Q4 2024 | $198M |
MTB spent $2.5B buying back its own shares over the past year, up 8.3% from the year before.
BAC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.4x | High |
| Q2 2026 | 6.7x | High |
| Q1 2026 | 7.1x | High |
| Q4 2025 | 7.7x | High |
| Q3 2025 | 8.3x | High |
| Q2 2025 | 8.8x | High |
| Q1 2025 | 8.6x | High |
| Q4 2024 | 9.0x | High |
BAC's net debt is about 6.4 years of its operating earnings (EBITDA), down from 8.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like BAC.
MTB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.3x | High |
| Q2 2026 | 3.8x | Elevated |
| Q1 2026 | 4.2x | High |
| Q4 2025 | 2.8x | Moderate |
| Q3 2025 | 3.3x | Elevated |
| Q2 2025 | 3.2x | Elevated |
MTB has the edge over BAC on leverage, with a lower net debt burden relative to earnings.
BAC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.1 | Neutral |
| Stochastic | 4.9 | Oversold |
BAC's weekly RSI is 37 (neutral) and its Stochastic is 5 (oversold).
MTB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.0 | Neutral |
| Stochastic | 17.4 | Oversold |
MTB's weekly RSI is 45 (neutral) and its Stochastic is 17 (oversold).
BAC PE vs Financial Services Sector
| Metric | BAC | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 7.5% below |
| PE % | 40 | 63 | 23 pts below |
BAC is trading at 12x earnings, in line with the Financial Services sector's median of 13x.
MTB PE vs Financial Services Sector
| Metric | MTB | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 12% below |
| PE % | 39 | 63 | 24 pts below |
MTB has the edge over BAC on valuation relative to its sector.
BAC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $52.1 | 3% below |
| 20 week MA | $57.8 | 13% below |
| 50 week MA | $54.7 | 7.7% below |
| 100 week MA | $50.5 | 0% below |
| 200 week MA | $42.5 | 19% above |
BAC has fallen below most of its moving averages, though it's still 19% above its 200-week average.
MTB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $219.1 | 0.3% above |
| 20 week MA | $233.4 | 5.8% below |
| 50 week MA | $222.2 | 1.1% below |
| 100 week MA | $204.8 | 7.3% above |
| 200 week MA | $175.3 | 25% above |
MTB has the edge over BAC on trend strength, trading above more of its moving averages.
BAC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $35.4 | $30.0 | -15% |
| 2021 | $30.0 | $44.4 | +48% |
| 2022 | $44.4 | $32.5 | -27% |
| 2023 | $32.5 | $33.7 | +3.7% |
| 2024 | $33.7 | $44.3 | +32% |
| 2025 | $44.3 | $56.2 | +27% |
| 2026 YTD | $56.2 | $50.5 | -10% |
BAC has finished higher in four of the last six years. It's down 10% so far in 2026.
MTB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $169.6 | $125.0 | -26% |
| 2021 | $125.0 | $151.0 | +21% |
| 2022 | $151.0 | $144.6 | -4.2% |
| 2023 | $144.6 | $137.1 | -5.2% |
| 2024 | $137.1 | $189.2 | +38% |
| 2025 | $189.2 | $207.3 | +9.5% |
| 2026 YTD | $207.3 | $219.8 | +6% |
MTB has the edge over BAC on returns for 2026, with the stronger performance.