M&T Bank Corp Trims Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

M&T Bank Corp decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,471 shares of the bank’s stock after selling 1,544 shares during the period. M&T Bank Corp owned 0.19% of Cullen/Frost Bankers worth $13,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CFR. NBC Securities Inc. purchased a new stake in Cullen/Frost Bankers in the third quarter valued at approximately $27,000. Arvest Investments Inc. purchased a new position in Cullen/Frost Bankers during the 4th quarter valued at about $35,000. GAMMA Investing LLC purchased a new stake in Cullen/Frost Bankers during the fourth quarter worth about $43,000. Signaturefd LLC boosted its stake in shares of Cullen/Frost Bankers by 87.8% in the fourth quarter. Signaturefd LLC now owns 706 shares of the bank’s stock valued at $77,000 after purchasing an additional 330 shares during the period. Finally, Covestor Ltd grew its holdings in shares of Cullen/Frost Bankers by 60.7% in the third quarter. Covestor Ltd now owns 911 shares of the bank’s stock valued at $83,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock traded down $0.52 on Friday, hitting $105.93. The stock had a trading volume of 735,181 shares, compared to its average volume of 434,094. The company’s 50 day moving average price is $108.94 and its 200 day moving average price is $104.37. Cullen/Frost Bankers, Inc. has a 52-week low of $82.25 and a 52-week high of $120.31. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.32 and a beta of 1.04. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same period last year, the company earned $2.70 EPS. On average, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.43 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.92 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 3.47%. Cullen/Frost Bankers’s dividend payout ratio is currently 43.50%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the transaction, the executive vice president now directly owns 27,815 shares in the company, valued at approximately $2,934,204.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Analyst Upgrades and Downgrades

CFR has been the subject of several recent research reports. StockNews.com raised shares of Cullen/Frost Bankers to a “sell” rating in a research report on Saturday. UBS Group increased their price target on Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Jefferies Financial Group boosted their price objective on Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. DA Davidson reiterated a “buy” rating and issued a $126.00 price target on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Finally, Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus price target of $117.46.

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.