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

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

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Cullen/Frost Bankers by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank's stock valued at $855,884,000 after acquiring an additional 66,243 shares during the period. Boston Trust Walden Corp lifted its position in Cullen/Frost Bankers by 5.7% during the 1st quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank's stock valued at $139,282,000 after acquiring an additional 60,187 shares during the period. Dimensional Fund Advisors LP lifted its position in Cullen/Frost Bankers by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,026,585 shares of the bank's stock valued at $137,823,000 after acquiring an additional 6,159 shares during the period. GAMMA Investing LLC lifted its position in Cullen/Frost Bankers by 122,282.2% during the 1st quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock valued at $125,949,000 after acquiring an additional 1,005,160 shares during the period. Finally, Northern Trust Corp raised its holdings in Cullen/Frost Bankers by 33.7% in the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock worth $130,703,000 after buying an additional 245,458 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Performance

Shares of CFR traded down $0.99 during mid-day trading on Friday, hitting $136.55. 396,111 shares of the company traded hands, compared to its average volume of 454,268. The stock has a 50-day moving average price of $128.68 and a two-hundred day moving average price of $128.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 2.89 and a beta of 0.68. Cullen/Frost Bankers, Inc. has a 1 year low of $100.31 and a 1 year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.13. The company had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. During the same period in the previous year, the business posted $2.15 earnings per share. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Stephens lifted their target price on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Royal Bank Of Canada decreased their target price 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. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price for the company in a report on Friday, May 2nd. Raymond James Financial raised shares of Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 target price for the company in a report on Tuesday. Finally, Jefferies Financial Group assumed coverage on shares of Cullen/Frost Bankers in a report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 target price for the company. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers currently has an average rating of "Hold" and a consensus price target of $134.79.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson bought 1,870 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was bought at an average cost of $16.93 per share, for a total transaction 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. This represents a 50.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.89% of the company's stock.

Cullen/Frost Bankers 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.