CFR vs. MTB
CFR (Cullen/Frost Bankers, Inc.) and MTB (M&T Bank Corporation) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, CFR returned 12.46%/yr vs 10.61%/yr for MTB. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
CFR vs. MTB - Performance Comparison
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Returns By Period
In the year-to-date period, CFR achieves a 20.18% return, which is significantly higher than MTB's 16.38% return. Over the past 10 years, CFR has outperformed MTB with an annualized return of 12.46%, while MTB has yielded a comparatively lower 10.61% annualized return.
CFR
- 1D
- 0.39%
- 1M
- 8.42%
- YTD
- 20.18%
- 6M
- 17.69%
- 1Y
- 22.20%
- 3Y*
- 16.84%
- 5Y*
- 8.97%
- 10Y*
- 12.46%
MTB
- 1D
- 1.54%
- 1M
- 9.23%
- YTD
- 16.38%
- 6M
- 13.59%
- 1Y
- 25.71%
- 3Y*
- 30.21%
- 5Y*
- 12.98%
- 10Y*
- 10.61%
CFR vs. MTB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CFR Cullen/Frost Bankers, Inc. | 20.18% | -2.76% | 27.86% | -16.06% | 8.66% | 48.17% | -7.58% | 14.60% | -4.84% | 9.93% |
MTB M&T Bank Corporation | 16.38% | 10.89% | 41.66% | -1.68% | -2.94% | 24.28% | -22.16% | 21.65% | -14.58% | 11.35% |
Correlation
The correlation between CFR and MTB is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 1991 | 0.59 |
The correlation between CFR and MTB shifts across timeframes, from 0.59 (all time) to 0.78 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
CFR:
$13.92
MTB:
$18.62
CFR:
10.77
MTB:
12.42
CFR:
0.99
MTB:
1.67
CFR:
2.58
MTB:
2.94
CFR:
$2.79B
MTB:
$12.36B
CFR:
$1.66B
MTB:
$9.31B
CFR:
$658.50M
MTB:
$3.93B
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Return for Risk
CFR vs. MTB — Risk / Return Rank
CFR
MTB
CFR vs. MTB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cullen/Frost Bankers, Inc. (CFR) and M&T Bank Corporation (MTB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CFR | MTB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.21 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.52 | +0.20 |
| Martin ratioReturn relative to average drawdown | 3.39 | 3.57 | -0.18 |
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Drawdowns
CFR vs. MTB - Drawdown Comparison
The maximum CFR drawdown since its inception was -56.86%, smaller than the maximum MTB drawdown of -73.50%. Use the drawdown chart below to compare losses from any high point for CFR and MTB.
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Drawdown Indicators
| CFR | MTB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.86% | -73.50% | +16.64% |
Max Drawdown (1Y)Largest decline over 1 year | -12.95% | -16.98% | +4.03% |
Max Drawdown (3Y)Largest decline over 3 years | -27.43% | -28.20% | +0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -45.62% | -40.71% | -4.91% |
Max Drawdown (10Y)Largest decline over 10 years | -56.86% | -52.97% | -3.89% |
Current DrawdownCurrent decline from peak | 0.00% | -1.48% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -11.81% | -12.41% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.56% | 7.21% | -0.65% |
Volatility
CFR vs. MTB - Volatility Comparison
The current volatility for Cullen/Frost Bankers, Inc. (CFR) is 6.29%, while M&T Bank Corporation (MTB) has a volatility of 6.69%. This indicates that CFR experiences smaller price fluctuations and is considered to be less risky than MTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CFR | MTB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 6.69% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 14.82% | 16.09% | -1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.07% | 21.80% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.15% | 30.28% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.21% | 32.80% | +0.41% |
Dividends
CFR vs. MTB - Dividend Comparison
CFR's dividend yield for the trailing twelve months is around 2.69%, more than MTB's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CFR Cullen/Frost Bankers, Inc. | 2.69% | 3.12% | 2.79% | 3.30% | 2.42% | 2.33% | 3.27% | 2.86% | 2.93% | 2.38% | 2.44% | 3.50% |
MTB M&T Bank Corporation | 2.59% | 3.24% | 2.85% | 3.79% | 3.31% | 2.93% | 3.46% | 2.42% | 2.48% | 1.75% | 1.79% | 2.31% |
Financials
CFR vs. MTB - Financials Comparison
This section allows you to compare key financial metrics between Cullen/Frost Bankers, Inc. and M&T Bank Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CFR vs. MTB - Profitability Comparison
CFR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cullen/Frost Bankers, Inc. reported a gross profit of 0.00 and revenue of 577.97M. Therefore, the gross margin over that period was 0.0%.
MTB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, M&T Bank Corporation reported a gross profit of 2.30B and revenue of 3.23B. Therefore, the gross margin over that period was 71.4%.
CFR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cullen/Frost Bankers, Inc. reported an operating income of 0.00 and revenue of 577.97M, resulting in an operating margin of 0.0%.
MTB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, M&T Bank Corporation reported an operating income of 863.00M and revenue of 3.23B, resulting in an operating margin of 26.8%.
CFR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cullen/Frost Bankers, Inc. reported a net income of 170.99M and revenue of 577.97M, resulting in a net margin of 29.6%.
MTB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, M&T Bank Corporation reported a net income of 664.00M and revenue of 3.23B, resulting in a net margin of 20.6%.
Frequently Asked Questions
CFR and MTB have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTB has higher volatility (6.69%) compared to CFR (6.29%). In terms of maximum drawdown, CFR dropped -56.86% vs MTB's -73.50%.
MTB currently has the higher Sharpe Ratio (1.19 vs 1.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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