Confluence Investment Management LLC lifted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,388 shares of the bank's stock after acquiring an additional 1,253 shares during the period. Confluence Investment Management LLC owned 0.25% of Cullen/Frost Bankers worth $18,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CFR. Oliver Lagore Vanvalin Investment Group acquired a new position in Cullen/Frost Bankers in the 1st quarter worth approximately $107,000. Brasada Capital Management LP increased its stake in shares of Cullen/Frost Bankers by 17.5% in the first quarter. Brasada Capital Management LP now owns 14,622 shares of the bank's stock worth $2,024,000 after acquiring an additional 2,182 shares during the period. Genesee Capital Advisors LLC raised its holdings in shares of Cullen/Frost Bankers by 5.5% during the first quarter. Genesee Capital Advisors LLC now owns 8,551 shares of the bank's stock worth $1,184,000 after purchasing an additional 443 shares during the last quarter. First National Bank of Omaha raised its holdings in shares of Cullen/Frost Bankers by 1.7% during the first quarter. First National Bank of Omaha now owns 65,168 shares of the bank's stock worth $9,019,000 after purchasing an additional 1,120 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Cullen/Frost Bankers by 7.3% in the first quarter. Advisory Services Network LLC now owns 9,924 shares of the bank's stock worth $1,374,000 after buying an additional 677 shares during the last quarter. Hedge funds and other institutional investors own 78.85% of the company's stock.
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Insider Buying and Selling
In other Cullen/Frost Bankers news, CFO Jerry Salinas sold 12,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $134.03, for a total value of $1,608,360.00. Following the completion of the sale, the chief financial officer now owns 27,792 shares in the company, valued at approximately $3,724,961.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Cullen/Frost Bankers news, CFO Jerry Salinas sold 12,000 shares of the company's stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $134.03, for a total value of $1,608,360.00. Following the completion of the sale, the chief financial officer now directly owns 27,792 shares in the company, valued at approximately $3,724,961.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Patrick B. Frost sold 18,000 shares of the firm's stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $128.19, for a total value of $2,307,420.00. Following the completion of the sale, the insider now directly owns 206,676 shares of the company's stock, valued at $26,493,796.44. The disclosure for this sale can be found here. 3.76% of the stock is currently owned by company insiders.
Cullen/Frost Bankers Price Performance
NYSE:CFR opened at $138.25 on Monday. The stock has a 50 day moving average of $131.36 and a two-hundred day moving average of $130.41. Cullen/Frost Bankers, Inc. has a 12 month low of $106.66 and a 12 month high of $147.39. The firm has a market cap of $8.87 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.07.
Cullen/Frost Bankers (NYSE:CFR – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The bank reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Cullen/Frost Bankers had a return on equity of 11.13% and a net margin of 29.19%. During the same quarter in the previous year, the business earned $1.80 earnings per share. On average, analysts expect that Cullen/Frost Bankers, Inc. will post 8.09 earnings per share for the current fiscal year.
Cullen/Frost Bankers Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.87 dividend. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $0.75. This represents a $3.48 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Tuesday, August 30th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 53.46%.
Analyst Ratings Changes
CFR has been the subject of several recent research reports. Truist Financial lifted their price target on Cullen/Frost Bankers from $140.00 to $150.00 and gave the company a "hold" rating in a research report on Wednesday, September 14th. JPMorgan Chase & Co. upgraded shares of Cullen/Frost Bankers from an "underweight" rating to an "overweight" rating and boosted their target price for the company from $143.00 to $155.00 in a research note on Wednesday, June 15th. Stephens increased their price target on shares of Cullen/Frost Bankers from $133.00 to $145.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 2nd. Wolfe Research cut their price objective on shares of Cullen/Frost Bankers from $161.00 to $132.00 and set an "outperform" rating for the company in a report on Thursday, May 26th. Finally, Compass Point raised shares of Cullen/Frost Bankers from a "neutral" rating to a "buy" rating and set a $152.00 target price on the stock in a research note on Monday, August 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $141.08.
Cullen/Frost Bankers Profile
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Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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