M&T Bank Corp Sells 7,837 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

M&T Bank Corp cut its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,967 shares of the bank's stock after selling 7,837 shares during the period. M&T Bank Corp owned about 0.17% of Cullen/Frost Bankers worth $13,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Cullen/Frost Bankers by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank's stock worth $855,884,000 after purchasing an additional 66,243 shares during the last quarter. Boston Trust Walden Corp lifted its stake in Cullen/Frost Bankers by 5.7% during the first quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank's stock worth $139,282,000 after purchasing an additional 60,187 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cullen/Frost Bankers by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,026,585 shares of the bank's stock worth $137,823,000 after purchasing an additional 6,159 shares during the last quarter. GAMMA Investing LLC lifted its stake in Cullen/Frost Bankers by 122,282.2% during the first quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock worth $125,949,000 after purchasing an additional 1,005,160 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Cullen/Frost Bankers by 33.7% during the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock worth $130,703,000 after purchasing an additional 245,458 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $136.50 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a twelve month low of $97.01 and a twelve month high of $147.64. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 5.13 and a beta of 0.68. The company's fifty day moving average is $127.70 and its 200 day moving average is $128.74.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.13. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. The company had revenue of $560.42 million for the quarter, compared to analysts' expectations of $540.57 million. During the same quarter in the previous year, the firm posted $2.15 earnings per share. Sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $1.00 dividend. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Friday, May 30th. This represents a $4.00 annualized dividend and a dividend yield of 2.93%. Cullen/Frost Bankers's payout ratio is currently 43.91%.

Analysts Set New Price Targets

CFR has been the subject of several recent analyst reports. Raymond James Financial upgraded Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research note on Tuesday. Royal Bank Of Canada lowered their price target on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Morgan Stanley lowered their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, March 13th. Evercore ISI upgraded shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target for the company in a report on Friday, May 2nd. Finally, Barclays upped their price target on shares of Cullen/Frost Bankers from $135.00 to $155.00 and gave the stock an "equal weight" rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers currently has an average rating of "Hold" and an average price target of $134.79.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, CAO Matthew Bradley Henson purchased 1,870 shares of the business's stock in a transaction on Friday, May 2nd. The shares were acquired at an average price of $16.93 per share, with a total value of $31,659.10. Following the completion of the transaction, the chief accounting officer owned 5,545 shares of the company's stock, valued at $93,876.85. The trade was a 50.88% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

About Cullen/Frost Bankers

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.

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