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

M&T Bank Corp lessened its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,504 shares of the bank’s stock after selling 705 shares during the quarter. M&T Bank Corp owned approximately 0.09% of Cullen/Frost Bankers worth $7,603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Covestor Ltd grew its stake in shares of Cullen/Frost Bankers by 80.7% in the 1st quarter. Covestor Ltd now owns 309 shares of the bank’s stock valued at $43,000 after buying an additional 138 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at approximately $51,000. Wipfli Financial Advisors LLC bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at approximately $61,000. Eagle Bay Advisors LLC grew its stake in shares of Cullen/Frost Bankers by 175.5% in the 2nd quarter. Eagle Bay Advisors LLC now owns 540 shares of the bank’s stock valued at $63,000 after buying an additional 344 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at approximately $64,000. Hedge funds and other institutional investors own 81.93% of the company’s stock.

Insider Activity at Cullen/Frost Bankers

In other news, CEO Phillip D. Green bought 9,500 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $106.59 per share, for a total transaction of $1,012,605.00. Following the completion of the purchase, the chief executive officer now owns 114,729 shares of the company’s stock, valued at approximately $12,228,964.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Phillip D. Green bought 9,500 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $106.59 per share, for a total transaction of $1,012,605.00. Following the completion of the purchase, the chief executive officer now owns 114,729 shares of the company’s stock, valued at approximately $12,228,964.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carol Jean Severyn bought 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $107.30 per share, with a total value of $160,950.00. Following the completion of the purchase, the executive vice president now directly owns 5,371 shares of the company’s stock, valued at approximately $576,308.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 16,700 shares of company stock worth $1,789,751. 3.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on CFR shares. Truist Financial lowered their price target on Cullen/Frost Bankers from $148.00 to $136.00 and set a “hold” rating for the company in a research note on Wednesday, February 1st. Bank of America upgraded Cullen/Frost Bankers from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Thursday, January 5th. Morgan Stanley began coverage on Cullen/Frost Bankers in a report on Monday, December 5th. They issued an “overweight” rating and a $178.00 target price for the company. DA Davidson began coverage on Cullen/Frost Bankers in a report on Tuesday, December 20th. They issued a “buy” rating and a $147.00 target price for the company. Finally, StockNews.com began coverage on Cullen/Frost Bankers in a report on Thursday. They issued a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus target price of $145.57.

Cullen/Frost Bankers Stock Down 4.4 %

Shares of CFR stock opened at $106.59 on Thursday. Cullen/Frost Bankers, Inc. has a 12 month low of $103.01 and a 12 month high of $160.60. The firm has a market cap of $6.86 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.19 and a beta of 1.06. The stock has a 50 day moving average of $129.68 and a 200-day moving average of $136.48. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.07.

Cullen/Frost Bankers (NYSE:CFR – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The bank reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.16. Cullen/Frost Bankers had a return on equity of 18.55% and a net margin of 30.80%. During the same quarter last year, the firm earned $1.54 earnings per share. On average, equities analysts predict that Cullen/Frost Bankers, Inc. will post 10.5 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were paid a $0.87 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.26%. Cullen/Frost Bankers’s payout ratio is 39.46%.

About Cullen/Frost Bankers

(Get Rating)

Cullen/Frost Bankers, Inc is a financial holding company, which engages in the provision of commercial and consumer banking services. It operates through the Banking and Frost Wealth Advisors segments. The Banking segment operates commercial and consumer banking services. The Frost Wealth Advisors segment includes fee-based services within private trust, retirement services, and financial management services.