M&T Bank Corp Has $13.24 Million Holdings in Cullen/Frost Bankers, Inc. $CFR

M&T Bank Corp lowered its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,980 shares of the bank’s stock after selling 5,987 shares during the quarter. M&T Bank Corp owned approximately 0.16% of Cullen/Frost Bankers worth $13,237,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CFR. Cetera Investment Advisers increased its holdings in shares of Cullen/Frost Bankers by 24.4% during the first quarter. Cetera Investment Advisers now owns 8,514 shares of the bank’s stock worth $1,066,000 after buying an additional 1,668 shares in the last quarter. US Bancorp DE increased its position in Cullen/Frost Bankers by 12.2% in the 1st quarter. US Bancorp DE now owns 4,870 shares of the bank’s stock valued at $610,000 after acquiring an additional 531 shares during the period. New Age Alpha Advisors LLC increased its holdings in Cullen/Frost Bankers by 57.6% in the first quarter. New Age Alpha Advisors LLC now owns 11,899 shares of the bank’s stock valued at $1,490,000 after purchasing an additional 4,350 shares during the period. Cary Street Partners Financial LLC bought a new position in Cullen/Frost Bankers during the 1st quarter worth $866,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in Cullen/Frost Bankers during the 1st quarter worth $58,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $123.08 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $124.47 and a 200 day simple moving average of $127.54. Cullen/Frost Bankers, Inc. has a 12-month low of $100.31 and a 12-month high of $146.44. The company has a market cap of $7.87 billion, a P/E ratio of 12.66, a PEG ratio of 2.90 and a beta of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 30th. The bank reported $2.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.29. The firm had revenue of $567.27 million for the quarter, compared to analyst estimates of $565.54 million. Cullen/Frost Bankers had a net margin of 21.99% and a return on equity of 15.84%. During the same period last year, the firm earned $2.24 earnings per share. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, November 28th. This represents a $4.00 dividend on an annualized basis and a yield of 3.2%. Cullen/Frost Bankers’s payout ratio is 41.15%.

Wall Street Analyst Weigh In

Several analysts recently commented on CFR shares. TD Cowen upgraded Cullen/Frost Bankers to a “strong-buy” rating in a report on Thursday, September 25th. Royal Bank Of Canada raised their target price on Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Cullen/Frost Bankers in a report on Monday. Citigroup raised their price objective on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the stock a “sell” rating in a research report on Friday, October 31st. Finally, Evercore ISI boosted their target price on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $136.75.

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.