M&T Bank Corp Buys 12,990 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• M&T Bank Corp increased its stake in Cullen/Frost Bankers by 13.5%, buying 12,990 shares to hold 109,154 shares worth about $13.82 million (a 0.17% stake).
• Cullen/Frost reported Q (Jan 29) EPS of $2.56, beating estimates of $2.47 and posting revenue of $1.05 billion versus expectations of $578.05 million, with ROE of 15.49% and a net margin of 22.21%.
• The bank declared a quarterly dividend of $1.00 (annualized $4.00, ~2.8% yield) and faces mixed analyst coverage—consensus rating "Hold" with an average price target of $142.25.

M&T Bank Corp grew its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,154 shares of the bank's stock after buying an additional 12,990 shares during the period. M&T Bank Corp owned 0.17% of Cullen/Frost Bankers worth $13,822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CFR. Cullen Frost Bankers Inc. increased its holdings in shares of Cullen/Frost Bankers by 62.0% in the third quarter. Cullen Frost Bankers Inc. now owns 38,734 shares of the bank's stock worth $4,910,000 after purchasing an additional 14,831 shares during the period. Truist Financial Corp increased its holdings in shares of Cullen/Frost Bankers by 21.8% in the third quarter. Truist Financial Corp now owns 40,306 shares of the bank's stock worth $5,110,000 after purchasing an additional 7,217 shares during the period. Marshall Financial Group LLC bought a new position in shares of Cullen/Frost Bankers in the fourth quarter worth $1,142,000. SG Americas Securities LLC increased its holdings in shares of Cullen/Frost Bankers by 1,578.9% in the third quarter. SG Americas Securities LLC now owns 18,686 shares of the bank's stock worth $2,369,000 after purchasing an additional 17,573 shares during the period. Finally, Carlson Capital L.P. bought a new position in shares of Cullen/Frost Bankers in the third quarter worth $1,382,000. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,000 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $137.07, for a total transaction of $137,070.00. Following the transaction, the executive vice president directly owned 28,406 shares in the company, valued at $3,893,610.42. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.14% of the stock is owned by insiders.

Cullen/Frost Bankers Stock Up 1.3%

CFR opened at $144.90 on Friday. The stock has a market cap of $9.12 billion, a PE ratio of 14.61, a P/E/G ratio of 3.96 and a beta of 0.61. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 52 week low of $113.69 and a 52 week high of $148.97. The business's fifty day simple moving average is $139.07 and its 200 day simple moving average is $133.00.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results on Thursday, January 29th. The bank reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.09. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $578.05 million. Cullen/Frost Bankers had a return on equity of 15.49% and a net margin of 22.21%.During the same quarter in the prior year, the firm earned $2.36 earnings per share. As a group, research analysts expect that Cullen/Frost Bankers, Inc. will post 10.21 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, February 27th. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 40.32%.

Wall Street Analysts Forecast Growth

CFR has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of Cullen/Frost Bankers from $143.00 to $133.00 and set an "underweight" rating on the stock in a report on Tuesday, March 31st. Cantor Fitzgerald upped their price objective on shares of Cullen/Frost Bankers from $141.00 to $152.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. Barclays upped their price objective on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 7th. Finally, Loop Capital set a $160.00 price objective on shares of Cullen/Frost Bankers in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $142.25.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.

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