M&T Bank Corp Has $15.68 Million Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

M&T Bank Corp cut its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 116,804 shares of the bank's stock after selling 4,199 shares during the quarter. M&T Bank Corp owned 0.18% of Cullen/Frost Bankers worth $15,681,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Cullen/Frost Bankers in the 3rd quarter worth $54,012,000. The Manufacturers Life Insurance Company grew its holdings in shares of Cullen/Frost Bankers by 117.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank's stock worth $63,618,000 after acquiring an additional 307,129 shares during the last quarter. Barclays PLC grew its holdings in shares of Cullen/Frost Bankers by 234.5% in the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank's stock worth $48,814,000 after acquiring an additional 305,921 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Cullen/Frost Bankers by 13,334.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 281,860 shares of the bank's stock worth $37,840,000 after acquiring an additional 279,762 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in shares of Cullen/Frost Bankers by 7.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank's stock worth $381,897,000 after acquiring an additional 244,445 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the sale, the insider now owns 102,946 shares of the company's stock, valued at $14,355,819.70. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CFR. Compass Point lifted their target price on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their target price on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Evercore ISI lifted their price target on Cullen/Frost Bankers from $136.00 to $144.00 and gave the company an "underperform" rating in a report on Monday, February 10th. DA Davidson downgraded Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and lifted their price target for the company from $138.00 to $143.00 in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $144.00 price target on shares of Cullen/Frost Bankers in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Hold" and an average target price of $132.54.

Cullen/Frost Bankers Stock Up 1.1 %

CFR traded up $1.46 during trading on Friday, reaching $129.32. 410,655 shares of the stock traded hands, compared to its average volume of 423,295. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 6.46 and a beta of 0.97. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.68 and a quick ratio of 0.68. The stock's 50-day simple moving average is $138.14 and its two-hundred day simple moving average is $129.46.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. As a group, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.94%. Cullen/Frost Bankers's dividend payout ratio is currently 42.84%.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.