Truist Financial Corp Lowers Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Truist Financial Corp lessened its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,089 shares of the bank’s stock after selling 251 shares during the quarter. Truist Financial Corp owned approximately 0.05% of Cullen/Frost Bankers worth $4,253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CFR. HB Wealth Management LLC lifted its holdings in shares of Cullen/Frost Bankers by 18.9% during the 2nd quarter. HB Wealth Management LLC now owns 2,255 shares of the bank’s stock worth $290,000 after acquiring an additional 358 shares during the period. Janney Montgomery Scott LLC raised its stake in Cullen/Frost Bankers by 46.8% during the second quarter. Janney Montgomery Scott LLC now owns 24,347 shares of the bank’s stock worth $3,130,000 after purchasing an additional 7,761 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Cullen/Frost Bankers by 13.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 21,241 shares of the bank’s stock valued at $2,730,000 after purchasing an additional 2,473 shares during the last quarter. Cardinal Capital Management increased its holdings in shares of Cullen/Frost Bankers by 0.5% during the 2nd quarter. Cardinal Capital Management now owns 17,824 shares of the bank’s stock worth $2,291,000 after buying an additional 81 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Cullen/Frost Bankers by 94.6% in the 2nd quarter. UMB Bank n.a. now owns 761 shares of the bank’s stock worth $98,000 after buying an additional 370 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $127.45 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a 12-month low of $100.31 and a 12-month high of $147.64. The business’s fifty day moving average price is $127.16 and its 200 day moving average price is $125.89. The stock has a market capitalization of $8.20 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.71.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.11. The business had revenue of $567.83 million for the quarter, compared to the consensus estimate of $552.04 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.During the same quarter last year, the business posted $2.21 EPS. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, August 29th. Cullen/Frost Bankers’s payout ratio is 43.06%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CFR. Morgan Stanley upped their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Barclays decreased their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Thursday, September 25th. Raymond James Financial decreased their price objective on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cullen/Frost Bankers in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $137.31.

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.