Is M&T Bank Corp. overvalued or undervalued?

As of 18 January 2024, M&T Bank Corp. has moved from an attractive to a fair valuation grade. The company is currently fairly valued based on its financial metrics. Key ratios include a P/E ratio of 12, a Price to Book Value of 1.13, and an EV to EBIT of 7.11.
In comparison to its peers, M&T Bank Corp. has a lower P/E ratio than Fifth Third Bancorp, which stands at 14.92, and is significantly lower than Fiserv, Inc., which has a P/E of 34.15, indicating that M&T Bank is more reasonably priced relative to some competitors. Additionally, the company's ROCE is 17.05%, which reflects strong operational efficiency. Notably, M&T Bank Corp. has outperformed the S&P 500 over the past year with a return of 28.40% compared to the index's 10.26%, reinforcing its fair valuation amidst a competitive landscape.