Verition Fund Management LLC boosted its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) by 52.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 130,944 shares of the bank’s stock after buying an additional 45,254 shares during the period. Verition Fund Management LLC’s holdings in Cullen/Frost Bankers were worth $16,581,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Cullen/Frost Bankers by 9.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,293,964 shares of the bank’s stock valued at $163,862,000 after purchasing an additional 106,558 shares in the last quarter. Geode Capital Management LLC increased its position in Cullen/Frost Bankers by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank’s stock valued at $155,059,000 after acquiring an additional 10,246 shares during the last quarter. Bank of America Corp DE increased its position in Cullen/Frost Bankers by 8.5% during the third quarter. Bank of America Corp DE now owns 1,129,673 shares of the bank’s stock valued at $143,209,000 after acquiring an additional 88,080 shares during the last quarter. Northern Trust Corp increased its position in Cullen/Frost Bankers by 2.3% during the third quarter. Northern Trust Corp now owns 965,821 shares of the bank’s stock valued at $122,437,000 after acquiring an additional 21,793 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Cullen/Frost Bankers by 5.5% during the fourth quarter. First Trust Advisors LP now owns 744,009 shares of the bank’s stock valued at $94,214,000 after purchasing an additional 38,908 shares during the period. 86.90% of the stock is currently owned by institutional investors.
Insider Transactions at Cullen/Frost Bankers
In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was 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 in the company, valued at $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.14% of the stock is currently owned by company insiders.
Cullen/Frost Bankers Trading Down 2.0%
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The business had revenue of $574.84 million for the quarter, compared to the consensus estimate of $587.29 million. During the same period in the prior year, the business posted $2.30 earnings per share. Research analysts predict that Cullen/Frost Bankers, Inc. will post 10.46 earnings per share for the current year.
Cullen/Frost Bankers Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, May 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 40.12%.
Analyst Ratings Changes
Several analysts have issued reports on CFR shares. DA Davidson boosted their price target on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, May 4th. TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a research note on Monday, April 13th. Weiss Ratings raised Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Royal Bank Of Canada increased their price target on Cullen/Frost Bankers from $150.00 to $155.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Cullen/Frost Bankers in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $148.73.
View Our Latest Research Report on Cullen/Frost Bankers
About Cullen/Frost Bankers
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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