Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Acquired by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lifted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 16.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 432,866 shares of the bank’s stock after buying an additional 60,987 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.67% of Cullen/Frost Bankers worth $48,728,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Cullen/Frost Bankers by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock worth $695,729,000 after acquiring an additional 19,755 shares during the period. Champlain Investment Partners LLC lifted its stake in Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after buying an additional 495,215 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after buying an additional 161,580 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Cullen/Frost Bankers by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock worth $92,432,000 after buying an additional 12,897 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 44.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after buying an additional 244,197 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CFR. JPMorgan Chase & Co. reduced their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Evercore ISI cut their price objective on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research report on Tuesday, June 25th. StockNews.com upgraded Cullen/Frost Bankers to a “sell” rating in a report on Saturday, May 4th. Stephens increased their price objective on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Truist Financial upped their price objective on shares of Cullen/Frost Bankers from $102.00 to $126.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $119.50.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Trading Down 3.3 %

Cullen/Frost Bankers stock traded down $3.73 during mid-day trading on Friday, hitting $108.91. The company’s stock had a trading volume of 739,867 shares, compared to its average volume of 711,828. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $123.17. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.39 and a beta of 1.03. The business has a 50 day moving average price of $103.85 and a 200-day moving average price of $106.23.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same period in the prior year, the business earned $2.47 EPS. As a group, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.53 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, August 30th. This represents a $3.80 annualized dividend and a yield of 3.49%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s payout ratio is currently 43.50%.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.