Janus Henderson Group PLC cut its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) by 32.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 647,235 shares of the bank’s stock after selling 317,611 shares during the quarter. Janus Henderson Group PLC owned 1.03% of Cullen/Frost Bankers worth $88,724,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CFR. Goldman Sachs Group Inc. boosted its stake in shares of Cullen/Frost Bankers by 61.6% in the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after buying an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cullen/Frost Bankers by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock worth $20,896,000 after acquiring an additional 15,063 shares during the period. Geneos Wealth Management Inc. raised its holdings in Cullen/Frost Bankers by 40.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after acquiring an additional 106 shares in the last quarter. Invesco Ltd. raised its holdings in Cullen/Frost Bankers by 12.2% in the 2nd quarter. Invesco Ltd. now owns 126,040 shares of the bank’s stock valued at $16,201,000 after acquiring an additional 13,718 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Cullen/Frost Bankers by 82.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank’s stock valued at $151,000 after acquiring an additional 532 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Cullen/Frost Bankers
In related news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the sale, the executive vice president directly owned 12,712 shares of the company’s stock, valued at approximately $1,885,062.48. The trade was a 6.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.14% of the company’s stock.
Cullen/Frost Bankers Price Performance
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a return on equity of 15.64% and a net margin of 29.29%.The business had revenue of $608.65 million for the quarter, compared to analyst estimates of $589.72 million. During the same period last year, the firm posted $2.39 earnings per share. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 10.57 earnings per share for the current fiscal year.
Cullen/Frost Bankers Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 40.12%.
Analyst Ratings Changes
Several analysts have recently issued reports on CFR shares. Morgan Stanley increased their target price on Cullen/Frost Bankers from $133.00 to $141.00 and gave the stock an “underweight” rating in a report on Monday, June 29th. Royal Bank Of Canada upped their price objective on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a “sector perform” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 15th. Cantor Fitzgerald raised their target price on shares of Cullen/Frost Bankers from $154.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Citigroup boosted their target price on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $157.00.
Check Out Our Latest Stock Report on CFR
Key Headlines Impacting Cullen/Frost Bankers
Here are the key news stories impacting Cullen/Frost Bankers this week:
- Positive Sentiment: Q2 earnings beat expectations: Cullen/Frost reported $2.70 in diluted EPS, up from $2.39 a year earlier, exceeding the $2.55 consensus estimate. Revenue of approximately $608.7 million also surpassed the $589.7 million forecast. Cullen/Frost Reports Second Quarter Results
- Positive Sentiment: Healthy operating trends: Taxable-equivalent net interest income rose 4.3% year over year to $470.1 million, average loans increased 7.4% to $22.6 billion, and non-interest income climbed 9.4% to $128.3 million. Improved credit quality and a record loan pipeline also helped reinforce the growth outlook. Cullen-Frost Q2 Earnings Beat
- Positive Sentiment: More bullish analyst views: Stephens raised its price target from $169 to $183 and upgraded its stance to “overweight.” Keefe, Bruyette & Woods lifted its target to $175 with an “outperform” rating, while RBC raised its target to $176 but maintained a “sector perform” rating. Analyst Price Target Updates
- Positive Sentiment: Capital returns remain supportive: The bank declared a quarterly common-stock dividend of $1.03 per share, representing an annualized yield of roughly 2.5%, and repurchased approximately $90 million of its shares during the quarter.
- Neutral Sentiment: Mixed analyst consensus: Despite the target increases, brokerages collectively maintain an average “hold” recommendation, suggesting that some investors view the recent gains and valuation as largely reflected in the stock price. Average Hold Recommendation
- Negative Sentiment: Expense growth remains a consideration: Non-interest expense rose 4.2% year over year to $361.7 million, which could limit profit expansion if operating costs accelerate faster than revenue.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.
Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.
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