HDFC Bank (HDB) vs M&T Bank (MTB)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
M&T Bank (MTB) has outperformed HDFC Bank (HDB) over the past year, gaining 14.3% versus a loss of 36.6%. Over five years, MTB leads with a +43.3% price change compared with -41.6% for HDB. HDFC Bank is the larger company by market cap ($113.79 billion vs $31.28 billion), about 3.6 times the size.
On valuation, M&T Bank trades at a lower forward P/E (10.3x vs 15.9x for HDFC Bank). HDFC Bank offers the higher dividend yield (58.72% vs 2.77%). M&T Bank converts more of its revenue into profit, with a net margin of 172.1% versus 30.8%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | HDB | MTB |
|---|---|---|
| Share price | $22.14 | $216.63 |
| Market cap | $113.79B | $31.28B |
| 1-day change | -1.25% | -0.96% |
| YTD return | -39.41% | +7.52% |
| 1-year return | -36.58% | +14.27% |
| 5-year return | -41.55% | +43.34% |
| P/E ratio (TTM) | 14.28 | 11.56 |
| Forward P/E | 15.91 | 10.30 |
| EPS (TTM) | $1.55 | $18.74 |
| Dividend yield | 58.72% | 2.77% |
| Annual dividend | $13.00 | $6.00 |
| Revenue (latest FY) | $25.64B | $1.66B |
| Revenue growth (YoY) | +15.25% | +7.53% |
| Net income (latest FY) | $7.88B | $2.85B |
| Net margin | 30.75% | 172.06% |
| 52-week high | $37.45 | $255.95 |
| 52-week low | $21.77 | $174.76 |
| Distance from 52-week high | -40.88% | -15.36% |
| Analyst consensus | buy | hold |
| Avg. price target upside | +37.90% | +16.75% |
| Average volume | 9.82M | 1.06M |
| Shares outstanding | 5.14B | 144.42M |
| Employees | 212,958 | 21,662 |
| Sector | Financial Services | Financial Services |
| Industry | Banks - Regional | Banks - Regional |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- HDFC Bank is about 3.6 times larger than M&T Bank by market value ($113.79B vs $31.28B).
- MTB has outperformed HDB by 50.8 percentage points over the past year.
- HDFC Bank offers a meaningfully higher dividend yield (58.72% vs 2.77%).
- M&T Bank is more profitable, keeping 172.1 cents of every revenue dollar as net income versus 30.8 cents for HDFC Bank.
- HDFC Bank grew revenue faster in its latest fiscal year (+15.25% vs +7.53%).
About HDFC Bank
HDB stock →HDFC Bank Limited provides banking and financial products and services to individuals and businesses in India, Bahrain, Hong Kong, Singapore, and Dubai. The company operates through Treasury, Retail Banking, Wholesale Banking, Other Banking Business, Insurance Business, and Other segments.
Financial Services · Banks - Regional · 212,958 employees
About M&T Bank
MTB stock →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.
Financial Services · Banks - Regional · 21,662 employees
HDB vs MTB FAQ
Which is bigger, HDFC Bank or M&T Bank?
HDFC Bank (HDB) is larger, with a market capitalization of $113.79B compared with $31.28B for M&T Bank (MTB).
Which stock has performed better over the past year, HDB or MTB?
MTB returned +14.27% over the past 12 months, compared with -36.58% for HDB (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, HDB or MTB?
MTB has the lower trailing P/E at 11.6, versus 14.3 for HDB. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, HDFC Bank or M&T Bank?
HDFC Bank has the higher yield at 58.72%, compared with 2.77% for M&T Bank.
Are HDFC Bank and M&T Bank in the same industry?
Yes. Both are classified in the Banks - Regional industry within the Financial Services sector.