MTB vs. CFR
MTB (M&T Bank Corporation) and CFR (Cullen/Frost Bankers, Inc.) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, MTB returned 10.44%/yr vs 12.42%/yr for CFR. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
MTB vs. CFR - Performance Comparison
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Returns By Period
In the year-to-date period, MTB achieves a 14.61% return, which is significantly lower than CFR's 19.70% return. Over the past 10 years, MTB has underperformed CFR with an annualized return of 10.44%, while CFR has yielded a comparatively higher 12.42% annualized return.
MTB
- 1D
- 1.16%
- 1M
- 7.57%
- YTD
- 14.61%
- 6M
- 11.65%
- 1Y
- 26.71%
- 3Y*
- 29.55%
- 5Y*
- 12.82%
- 10Y*
- 10.44%
CFR
- 1D
- 2.56%
- 1M
- 8.00%
- YTD
- 19.70%
- 6M
- 17.12%
- 1Y
- 23.62%
- 3Y*
- 16.69%
- 5Y*
- 9.20%
- 10Y*
- 12.42%
MTB vs. CFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MTB M&T Bank Corporation | 14.61% | 10.89% | 41.66% | -1.68% | -2.94% | 24.28% | -22.16% | 21.65% | -14.58% | 11.35% |
CFR Cullen/Frost Bankers, Inc. | 19.70% | -2.76% | 27.86% | -16.06% | 8.66% | 48.17% | -7.58% | 14.60% | -4.84% | 9.93% |
Correlation
The correlation between MTB and CFR 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 MTB and CFR shifts across timeframes, from 0.59 (all time) to 0.78 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
MTB:
$18.62
CFR:
$13.92
MTB:
12.23
CFR:
10.73
MTB:
1.65
CFR:
0.99
MTB:
2.90
CFR:
2.57
MTB:
$12.36B
CFR:
$2.79B
MTB:
$9.31B
CFR:
$1.66B
MTB:
$3.93B
CFR:
$658.50M
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Return for Risk
MTB vs. CFR — Risk / Return Rank
MTB
CFR
MTB vs. CFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for M&T Bank Corporation (MTB) and Cullen/Frost Bankers, Inc. (CFR). 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.
| MTB | CFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 1.83 | -0.25 |
| Martin ratioReturn relative to average drawdown | 3.71 | 3.61 | +0.10 |
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Drawdowns
MTB vs. CFR - Drawdown Comparison
The maximum MTB drawdown since its inception was -73.50%, which is greater than CFR's maximum drawdown of -56.86%. Use the drawdown chart below to compare losses from any high point for MTB and CFR.
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Drawdown Indicators
| MTB | CFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.50% | -56.86% | -16.64% |
Max Drawdown (1Y)Largest decline over 1 year | -16.98% | -12.95% | -4.03% |
Max Drawdown (3Y)Largest decline over 3 years | -28.20% | -27.43% | -0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -40.71% | -45.62% | +4.91% |
Max Drawdown (10Y)Largest decline over 10 years | -52.97% | -56.86% | +3.89% |
Current DrawdownCurrent decline from peak | -2.98% | 0.00% | -2.98% |
Average DrawdownAverage peak-to-trough decline | -12.41% | -11.81% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.21% | 6.56% | +0.65% |
Volatility
MTB vs. CFR - Volatility Comparison
M&T Bank Corporation (MTB) and Cullen/Frost Bankers, Inc. (CFR) have volatilities of 6.61% and 6.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MTB | CFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.61% | 6.35% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 16.08% | 14.82% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.80% | 22.11% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.27% | 30.15% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.86% | 33.29% | -0.43% |
Dividends
MTB vs. CFR - Dividend Comparison
MTB's dividend yield for the trailing twelve months is around 2.63%, less than CFR's 2.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CFR Cullen/Frost Bankers, Inc. | 2.70% | 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 | 2.63% | 3.24% | 2.85% | 3.79% | 3.31% | 2.93% | 3.46% | 2.42% | 2.48% | 1.75% | 1.79% | 2.31% |
Financials
MTB vs. CFR - Financials Comparison
This section allows you to compare key financial metrics between M&T Bank Corporation and Cullen/Frost Bankers, Inc.. 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
MTB vs. CFR - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
MTB and CFR 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 (6.61%) compared to CFR (6.35%). In terms of maximum drawdown, MTB dropped -73.50% vs CFR's -56.86%.
MTB currently has the higher Sharpe Ratio (1.23 vs 1.08), 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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