Pallas Capital Advisors LLC purchased a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,095 shares of the bank’s stock, valued at approximately $942,000.
Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Cullen/Frost Bankers by 18.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after acquiring an additional 236,808 shares during the period. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 10,246 shares during the period. Bank of America Corp DE raised its stake in shares of Cullen/Frost Bankers by 11.8% in the first quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock valued at $165,966,000 after purchasing an additional 127,483 shares in the last quarter. Northern Trust Corp raised its stake in shares of Cullen/Frost Bankers by 2.3% in the third quarter. Northern Trust Corp now owns 965,821 shares of the bank’s stock valued at $122,437,000 after purchasing an additional 21,793 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Cullen/Frost Bankers by 6.2% in the first quarter. First Trust Advisors LP now owns 789,930 shares of the bank’s stock valued at $108,284,000 after purchasing an additional 45,921 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on CFR shares. TD Cowen lifted their price target on shares of Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Royal Bank Of Canada increased their price objective on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Cantor Fitzgerald raised their price objective on shares of Cullen/Frost Bankers from $154.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Raymond James Financial reiterated a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $160.33.
Insider Activity at Cullen/Frost Bankers
In other news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the sale, the executive vice president directly owned 12,712 shares of the company’s stock, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.14% of the company’s stock.
Cullen/Frost Bankers Stock Performance
Shares of NYSE:CFR opened at $167.33 on Wednesday. The business’s fifty day moving average price is $158.53 and its two-hundred day moving average price is $146.14. Cullen/Frost Bankers, Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $170.80. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63.
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating the consensus estimate of $2.55 by $0.15. The business had revenue of $576.01 million for the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same period in the prior year, the firm earned $2.39 earnings per share. As a group, analysts predict that Cullen/Frost Bankers, Inc. will post 10.8 EPS for the current fiscal year.
Cullen/Frost Bankers Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 38.94%.
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.
Featured Articles
- Five stocks we like better than Cullen/Frost Bankers
- The AI Boom Is Turning This Cable Maker Into a Stock to Watch
- A Star Investor Just Trimmed Amazon—Here’s What It means
- Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
- Home Depot Analysts See a Path to $375 and Beyond
Receive News & Ratings for Cullen/Frost Bankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers and related companies with MarketBeat.com's FREE daily email newsletter.
