Ceredex Value Advisors LLC Cuts Position in Cullen/Frost Bankers, Inc. $CFR

Ceredex Value Advisors LLC lessened its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,450 shares of the bank’s stock after selling 9,782 shares during the quarter. Ceredex Value Advisors LLC owned 0.17% of Cullen/Frost Bankers worth $13,875,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CFR. Cullen Frost Bankers Inc. grew its holdings in shares of Cullen/Frost Bankers by 62.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 38,734 shares of the bank’s stock valued at $4,910,000 after purchasing an additional 14,831 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Cullen/Frost Bankers by 3,892.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 100,368 shares of the bank’s stock worth $12,901,000 after purchasing an additional 97,854 shares during the last quarter. Truist Financial Corp boosted its position in Cullen/Frost Bankers by 21.8% during the third quarter. Truist Financial Corp now owns 40,306 shares of the bank’s stock valued at $5,110,000 after buying an additional 7,217 shares during the period. Legal & General Group Plc boosted its position in Cullen/Frost Bankers by 3.4% during the second quarter. Legal & General Group Plc now owns 100,690 shares of the bank’s stock valued at $12,943,000 after buying an additional 3,313 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Cullen/Frost Bankers by 1,578.9% during the third quarter. SG Americas Securities LLC now owns 18,686 shares of the bank’s stock valued at $2,369,000 after buying an additional 17,573 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Down 0.3%

Shares of NYSE CFR opened at $134.04 on Wednesday. The firm has a fifty day simple moving average of $139.21 and a two-hundred day simple moving average of $130.82. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $148.97. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $8.47 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 4.94 and a beta of 0.63.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share for the quarter, beating 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 firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $578.05 million. During the same quarter in the previous year, the firm posted $2.36 EPS. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, February 27th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.0%. Cullen/Frost Bankers’s dividend payout ratio is 40.32%.

Wall Street Analyst Weigh In

CFR has been the subject of a number of recent research reports. Citigroup boosted their target price on Cullen/Frost Bankers from $114.00 to $125.00 and gave the company a “sell” rating in a research note on Monday, February 2nd. Morgan Stanley raised their price target on Cullen/Frost Bankers from $136.00 to $143.00 and gave the stock an “underweight” rating in a research report on Monday, March 2nd. Weiss Ratings raised Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Keefe, Bruyette & Woods increased their price objective on Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, TD Cowen restated a “positive” rating on shares of Cullen/Frost Bankers in a report on Monday, February 2nd. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus target price of $142.67.

Insider Activity

In other 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 value of $137,070.00. Following the completion of the transaction, the executive vice president 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Cullen/Frost Bankers 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.