Bank of New York Mellon Corp Grows Holdings in Cullen/Frost Bankers, Inc. $CFR

Bank of New York Mellon Corp boosted its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 543,468 shares of the bank’s stock after purchasing an additional 3,755 shares during the period. Bank of New York Mellon Corp owned approximately 0.86% of Cullen/Frost Bankers worth $74,499,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CFR. Advisory Services Network LLC acquired a new stake in shares of Cullen/Frost Bankers during the third quarter worth about $28,000. Covestor Ltd increased its holdings in shares of 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 purchasing an additional 100 shares during the period. Blue Trust Inc. increased its stake in Cullen/Frost Bankers by 252.1% in the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock valued at $33,000 after buying an additional 184 shares during the period. Matrix Trust Co raised its holdings in Cullen/Frost Bankers by 40.4% during the fourth quarter. Matrix Trust Co now owns 320 shares of the bank’s stock worth $41,000 after purchasing an additional 92 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of 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 buying an additional 106 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the transaction, the executive vice president directly owned 12,712 shares in the company, valued at approximately $1,885,062.48. The trade was a 6.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.14% of the company’s stock.

Analyst Ratings Changes

CFR has been the subject of several recent analyst reports. Jefferies Financial Group upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and raised their price objective for the company from $135.00 to $160.00 in a research note on Monday, July 6th. Barclays boosted their price target on Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald raised their price objective on Cullen/Frost Bankers from $154.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $152.42.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $162.49 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The business’s fifty day moving average price is $147.14 and its two-hundred day moving average price is $141.92. The stock has a market cap of $10.20 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $163.80.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $574.84 million for the quarter, compared to analyst estimates of $587.28 million. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.During the same quarter last year, the company earned $2.30 earnings per share. On average, analysts forecast that Cullen/Frost Bankers, Inc. will post 10.57 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, May 29th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. Cullen/Frost Bankers’s dividend payout ratio is presently 40.12%.

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.