Envestnet Asset Management Inc. Raises Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Envestnet Asset Management Inc. increased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 276,117 shares of the bank’s stock after purchasing an additional 20,783 shares during the period. Envestnet Asset Management Inc. owned approximately 0.43% of Cullen/Frost Bankers worth $35,003,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth $90,484,000. Impax Asset Management Group plc lifted its stake in Cullen/Frost Bankers by 58.7% during the second quarter. Impax Asset Management Group plc now owns 822,878 shares of the bank’s stock worth $104,861,000 after purchasing an additional 304,491 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock worth $75,833,000 after purchasing an additional 230,993 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Cullen/Frost Bankers by 3,892.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 100,368 shares of the bank’s stock valued at $12,901,000 after purchasing an additional 97,854 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Cullen/Frost Bankers by 14.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 742,981 shares of the bank’s stock valued at $95,503,000 after purchasing an additional 94,985 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $127.00, for a total value of $88,900.00. Following the sale, the executive vice president directly owned 3,795 shares of the company’s stock, valued at $481,965. This represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bobby Berman sold 1,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $3,893,610.42. This trade represents a 3.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,700 shares of company stock valued at $225,970 in the last three months. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Up 0.0%

Shares of Cullen/Frost Bankers stock opened at $146.28 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 12-month low of $100.31 and a 12-month high of $148.46. The company has a market cap of $9.24 billion, a P/E ratio of 14.75, a PEG ratio of 5.38 and a beta of 0.65. The company’s fifty day simple moving average is $134.36 and its two-hundred day simple moving average is $128.86.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, January 29th. The bank reported $2.56 EPS for the quarter, topping the consensus estimate 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 $562.58 million during the quarter, compared to analysts’ expectations of $578.05 million. During the same period last year, the company posted $2.36 EPS. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

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 2.7%. 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 stock a “sell” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cullen/Frost Bankers in a research note on Monday, December 29th. DA Davidson lifted their target price on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Keefe, Bruyette & Woods upped their price target on shares of Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Finally, Royal Bank Of Canada raised their price target on Cullen/Frost Bankers from $144.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of “Hold” and an average price target of $140.92.

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.