Sifting through countless of stocks in the Banks industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in M&T Bank Corporation or KeyCorp because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how M&T Bank Corporation and KeyCorp compare based on key financial metrics to determine which better meets your investment needs.

About M&T Bank Corporation and KeyCorp

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management. It offers a range of credit products and banking services, such as commercial lending and leasing, letters of credits, deposit products, cash management services, commercial real estate loans, and credit facilities secured by various commercial real estate properties to middle-market and large commercial customers. The company also provides customers deposit products, including demand, savings and time accounts, and other services; automobile and recreational finance loans, home equity loans and lines of credit, credit cards, and other loan products, as well as residential mortgage and real estate loans; business loans, cash management, payroll, direct deposit, and merchant credit card services to consumers and small businesses through branch network, telephone banking, internet banking, and automated teller machines. In addition, it offers trustee, agency, investment management, and administrative services; personal trust, planning and advisory, fiduciary, asset management, family office, and other services; and investment products, including mutual funds and annuities, and other services for corporations and institutions, investment bankers, corporate tax, finance and legal executives, and other institutional clients. M&T Bank Corporation was founded in 1856 and is headquartered in Buffalo, New York.

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits and investment products; personal finance and financial wellness, lending, student loan refinancing, mortgage and home equity, credit card, treasury, and business advisory; commercial leasing, investment management, consumer finance; and wealth management and investment services for institutional, non-profit, and high-net-worth clients. It also provides lending, cash management, equipment financing, and commercial mortgage loans; and capital market products and services, such as syndicated finance, debt and equity underwriting, fixed income and equity sales and trading, derivatives, foreign exchange, mergers and acquisition, other advisory services, and public finance to large corporate and institutional clients. In addition, the company offers personal and institutional trust custody services, personal financial and planning services, access to mutual funds, treasury services, and international banking services. Further, it provides community development financing, securities underwriting, brokerage, and investment banking services, as well as merchant services. The company was founded in 1849 and is headquartered in Cleveland, Ohio.

Latest Banks and M&T Bank Corporation, KeyCorp Stock News

As of September 2, 2026, M&T Bank Corporation had a $34.0 billion market capitalization, compared to the Banks median of $750.0 million. M&T Bank Corporation’s stock is up 18.6% in 2026, up 0.2% in the previous five trading days and up 18.34% in the past year.

Currently, M&T Bank Corporation’s price-earnings ratio is 12.4. M&T Bank Corporation’s trailing 12-month revenue is $9.5 billion with a 32.1% net profit margin. Year-over-year quarterly sales growth most recently was 6.2%. Analysts expect adjusted earnings to reach $19.300 per share for the current fiscal year. M&T Bank Corporation currently has a 2.5% dividend yield.

As of September 2, 2026, KeyCorp had a $23.3 billion market cap, putting it in the 87th percentile of all stocks. KeyCorp’s stock is up 6.6% in 2026, down 0.1% in the previous five trading days and up 14.98% in the past year.

Currently, KeyCorp’s price-earnings ratio is 12.8. KeyCorp’s trailing 12-month revenue is $7.4 billion with a 27.5% net profit margin. Year-over-year quarterly sales growth most recently was 10.1%. Analysts expect adjusted earnings to reach $1.829 per share for the current fiscal year. KeyCorp currently has a 3.8% dividend yield.

How We Compare M&T Bank Corporation and KeyCorp Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at M&T Bank Corporation and KeyCorp’s stock grades to see how they measure up against one another.

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M&T Bank Corporation and KeyCorp Stock Value Grades

Company	Ticker	Value
M&T Bank Corporation	MTB	B
KeyCorp	KEY	C

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection.

Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

AAII’s A+ Investor Value Grade derives from a stock’s value score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are a good value and so on.

M&T Bank Corporation has a Value Score of 76, which is Value. KeyCorp has a Value Score of 51, which is Average.

The Value Stock Winner: M&T Bank Corporation

As you can clearly see from the Value Grade breakdown above, M&T Bank Corporation is considered to have better value than KeyCorp. For investors who focus solely on a company’s valuation, M&T Bank Corporation could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

M&T Bank Corporation and KeyCorp’s Momentum Grades

Company	Ticker	Momentum
M&T Bank Corporation	MTB	C
KeyCorp	KEY	C

Momentum grades help to uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming. Momentum is based on the price change of a stock over a specified period relative to all other stocks.

Typically, AAII looks at the weighted relative strength over the trailing four quarters. The weighted four-quarter relative strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40% and each of the three previous quarters are given a weighting of 20%.

M&T Bank Corporation has a Momentum Score of 57, which is Average. KeyCorp has a Momentum Score of 50, which is Average.

The Momentum Stock Winner: No Clear Winner

Neither M&T Bank Corporation or KeyCorp has a strong enough Momentum Grade to be considered a “winner.” Investors considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolios. It’s important to look at a wide range of financial metrics in order to determine if M&T Bank Corporation or KeyCorp is the better investment when it comes to momentum.

M&T Bank Corporation and KeyCorp’s Estimate Revisions Grades

Company	Ticker	Earnings Estimate
M&T Bank Corporation	MTB	C
KeyCorp	KEY	C

Earnings estimate revisions scores consider the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, positive surprises beget further positive surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Estimate revisions offer an indication of what analysts are thinking about the short-term prospects of a firm. Estimate revisions are based on the statistical significance of a firm’s last two quarterly earnings surprises and the percentage change in its consensus estimate for the current fiscal year over the past month and past three months.

M&T Bank Corporation has a Earnings Estimate Score of 57, which is Neutral. KeyCorp has a Earnings Estimate Score of 53, which is Neutral.

The Earnings Estimate Revisions Stock Winner: No Clear Winner

Neither M&T Bank Corporation or KeyCorp has an Earnings Estimate Revisions Grade that could be considered a “winner.” Investors considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolios. It’s important to look at a wide range of financial metrics in order to determine if M&T Bank Corporation or KeyCorp is the better investment when it comes to estimate revisions.

Other M&T Bank Corporation and KeyCorp Grades

In addition to Value, Momentum and Estimate Revisions, A+ Investor also provides grades for Growth and Quality.

Growth investing builds on the idea that stocks of companies exhibiting strong, consistent and prolonged growth outperform those of slower-growth companies. AAII measures growth through consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations.

AAII’s A+ Investor Quality Grade comes from the ranking of key metrics. Specifically, the quality grade is the percentile rank of the composite of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and F-Score.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether M&T Bank Corporation and KeyCorp pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, M&T Bank Corporation or KeyCorp Stock?

Overall, M&T Bank Corporation stock has a Value Score of 76, Momentum Score of 57 and Estimate Revisions Score of 57.

KeyCorp stock has a Value Score of 51, Momentum Score of 50 and Estimate Revisions Score of 53.

Comparing M&T Bank Corporation and KeyCorp’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.