Thrivent Financial for Lutherans Sells 6,423 Shares of Cullen/Frost Bankers, Inc. $CFR

Thrivent Financial for Lutherans cut its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 23.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,574 shares of the bank’s stock after selling 6,423 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cullen/Frost Bankers were worth $2,608,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CFR. AlphaQuest LLC increased its holdings in Cullen/Frost Bankers by 8.0% in the second quarter. AlphaQuest LLC now owns 1,082 shares of the bank’s stock worth $139,000 after purchasing an additional 80 shares in the last quarter. Wedmont Private Capital lifted its position in Cullen/Frost Bankers by 6.2% in the 3rd quarter. Wedmont Private Capital now owns 1,687 shares of the bank’s stock valued at $215,000 after acquiring an additional 99 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Cullen/Frost Bankers by 0.7% during the second quarter. State of Michigan Retirement System now owns 15,464 shares of the bank’s stock valued at $1,988,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Cullen/Frost Bankers by 40.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after acquiring an additional 106 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Cullen/Frost Bankers by 1.4% during the third quarter. GAMMA Investing LLC now owns 8,049 shares of the bank’s stock worth $1,020,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. DA Davidson boosted their price target on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Cullen/Frost Bankers in a research report on Monday, December 29th. Citigroup raised their price objective on shares of Cullen/Frost Bankers from $114.00 to $125.00 and gave the stock a “sell” rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada boosted their target price on shares of Cullen/Frost Bankers from $144.00 to $150.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $140.92.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $137.07, for a total transaction of $137,070.00. Following the transaction, the executive vice president directly owned 28,406 shares in the company, valued at $3,893,610.42. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total transaction of $88,900.00. Following the completion of the transaction, the executive vice president owned 3,795 shares in the company, valued at $481,965. The trade was a 15.57% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,700 shares of company stock valued at $225,970. 1.20% of the stock is currently owned by corporate insiders.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $147.13 on Tuesday. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $148.29. The stock has a fifty day moving average of $133.51 and a 200 day moving average of $128.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 5.40 and a beta of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. The business had revenue of $562.58 million during the quarter, compared to analysts’ expectations of $578.05 million. During the same quarter in the previous year, the company earned $2.36 EPS. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $1.00 dividend. The ex-dividend date is Friday, February 27th. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Cullen/Frost Bankers’s payout ratio is currently 40.32%.

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.