Legal & General Group Plc Takes $12.52 Million Position in Cullen/Frost Bankers, Inc. $CFR

Legal & General Group Plc purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 81,034 shares of the bank’s stock, valued at approximately $12,521,000. Legal & General Group Plc owned about 0.13% of Cullen/Frost Bankers as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CFR. Private Advisor Group LLC lifted its position in Cullen/Frost Bankers by 2.9% during the 3rd quarter. Private Advisor Group LLC now owns 3,283 shares of the bank’s stock valued at $416,000 after purchasing an additional 94 shares during the period. Evolve Private Wealth LLC raised its stake in shares of Cullen/Frost Bankers by 6.0% during the first quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank’s stock worth $237,000 after buying an additional 98 shares during the last quarter. Covestor Ltd lifted its holdings in Cullen/Frost Bankers by 67.6% in the fourth quarter. Covestor Ltd now owns 248 shares of the bank’s stock valued at $31,000 after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Cullen/Frost Bankers by 0.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,921 shares of the bank’s stock valued at $1,771,000 after buying an additional 100 shares during the period. Finally, State of Michigan Retirement System boosted its stake in Cullen/Frost Bankers by 0.7% in the first quarter. State of Michigan Retirement System now owns 15,164 shares of the bank’s stock valued at $2,079,000 after acquiring an additional 100 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CFR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 15th. Stephens increased their target price on Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. TD Cowen boosted their target price on Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Barclays increased their price target on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley increased their target price on shares of Cullen/Frost Bankers from $133.00 to $141.00 and gave the stock an “underweight” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $161.75.

Cullen/Frost Bankers Trading Down 0.3%

NYSE CFR opened at $161.19 on Tuesday. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $170.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $10.02 billion, a P/E ratio of 15.24, a P/E/G ratio of 2.48 and a beta of 0.53. The stock’s 50-day moving average is $161.58 and its 200-day moving average is $147.46.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.15. The business had revenue of $576.01 million during the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same period in the prior year, the business earned $2.39 EPS. Sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.9 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

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 issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio is 38.94%.

Insider Activity

In other news, EVP Carol Jean Severyn sold 837 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 12,712 shares of the company’s stock, valued at $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.14% of the stock is owned by corporate insiders.

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.