Cullen/Frost Bankers, Inc. $CFR Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 539,713 shares of the bank’s stock after selling 31,981 shares during the period. Bank of New York Mellon Corp’s holdings in Cullen/Frost Bankers were worth $68,344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CFR. Goldman Sachs Group Inc. boosted its stake in Cullen/Frost Bankers by 61.6% in the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after acquiring an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Cullen/Frost Bankers by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock valued at $20,896,000 after acquiring an additional 15,063 shares during the period. Geneos Wealth Management Inc. boosted its stake in Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after acquiring an additional 106 shares during the period. Invesco Ltd. boosted its stake in Cullen/Frost Bankers by 12.2% in the second quarter. Invesco Ltd. now owns 126,040 shares of the bank’s stock valued at $16,201,000 after acquiring an additional 13,718 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Cullen/Frost Bankers by 82.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank’s stock valued at $151,000 after acquiring an additional 532 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CFR. Barclays lifted their target price on Cullen/Frost Bankers from $150.00 to $155.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Citigroup lifted their target price on Cullen/Frost Bankers from $125.00 to $131.00 and gave the company a “sell” rating in a research note on Thursday, May 7th. Weiss Ratings upgraded Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Royal Bank Of Canada boosted their price objective on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, DA Davidson boosted their price objective on Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $148.73.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $143.68 on Wednesday. Cullen/Frost Bankers, Inc. has a 12 month low of $119.00 and a 12 month high of $148.97. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 3.57 and a beta of 0.55. The stock’s 50 day moving average price is $139.73 and its 200 day moving average price is $136.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The firm had revenue of $574.84 million for the quarter, compared to analysts’ expectations of $587.29 million. During the same quarter in the previous year, the company earned $2.30 earnings per share. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.46 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, May 29th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 2.9%. Cullen/Frost Bankers’s dividend payout ratio is presently 40.12%.

About Cullen/Frost Bankers

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.