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

M&T Bank Corp decreased its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,804 shares of the bank’s stock after selling 4,199 shares during the period. M&T Bank Corp owned about 0.18% of Cullen/Frost Bankers worth $15,681,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Covestor Ltd raised its position in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $29,000. UMB Bank n.a. raised its position in Cullen/Frost Bankers by 45.8% in the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $44,000. Finally, Blue Trust Inc. raised its position in Cullen/Frost Bankers by 239.0% in the 4th quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after purchasing an additional 239 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 1.3 %

NYSE:CFR opened at $129.26 on Thursday. The stock’s 50 day moving average price is $138.57 and its 200 day moving average price is $129.34. The company has a market capitalization of $8.30 billion, a PE 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.

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

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.80 annualized dividend and a dividend yield of 2.94%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 42.84%.

Analyst Ratings Changes

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

Insider Buying and Selling at Cullen/Frost Bankers

In other news, insider Paul Bracher sold 11,500 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the sale, the insider now directly owns 102,946 shares of the company’s stock, valued at $14,355,819.70. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.89% of the company’s stock.

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.