Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,804 shares of the bank’s stock after selling 4,199 shares during the quarter. M&T Bank Corp’s holdings in Cullen/Frost Bankers were worth $15,681,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Covestor Ltd raised its holdings in Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Cullen/Frost Bankers during the third quarter worth $29,000. UMB Bank n.a. raised its holdings in Cullen/Frost Bankers by 45.8% during the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock worth $33,000 after purchasing an additional 77 shares during the last quarter. Brooklyn Investment Group acquired a new position in Cullen/Frost Bankers during the third quarter worth $44,000. Finally, Blue Trust Inc. raised its holdings in Cullen/Frost Bankers by 239.0% during the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock worth $46,000 after purchasing an additional 239 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the completion of the sale, the insider now owns 102,946 shares of the company’s stock, valued at approximately $14,355,819.70. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $129.26 on Thursday. The company has a market cap of $8.30 billion, a P/E ratio of 14.57, a P/E/G ratio of 6.46 and a beta of 0.99. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The business has a fifty day simple moving average of $138.57 and a 200-day simple moving average of $129.34.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, February 28th. Cullen/Frost Bankers’s dividend payout ratio is currently 42.84%.

Analysts Set New Price Targets

CFR has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price objective on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Evercore ISI lifted their price objective on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a report on Monday, February 10th. Compass Point lifted their price objective on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. DA Davidson downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and raised their price target for the stock from $138.00 to $143.00 in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $144.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $132.54.

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.