Cullen/Frost Bankers, Inc. $CFR Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,224,265 shares of the bank’s stock after purchasing an additional 10,246 shares during the period. Geode Capital Management LLC owned approximately 1.94% of Cullen/Frost Bankers worth $155,059,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Cary Street Partners Financial LLC raised its stake in shares of Cullen/Frost Bankers by 3.1% during the fourth quarter. Cary Street Partners Financial LLC now owns 7,065 shares of the bank’s stock valued at $895,000 after purchasing an additional 213 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of Cullen/Frost Bankers by 5.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,797 shares of the bank’s stock valued at $987,000 after purchasing an additional 416 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $926,000. Mach 1 Financial Group LLC purchased a new stake in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $475,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Cullen/Frost Bankers by 11.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 42,979 shares of the bank’s stock valued at $5,442,000 after purchasing an additional 4,245 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Cullen/Frost Bankers from $125.00 to $131.00 and gave the company a “sell” rating in a research note on Thursday, May 7th. TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a research note on Monday, April 13th. Barclays lifted their price objective on shares of 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. Cantor Fitzgerald reiterated a “neutral” rating on shares of Cullen/Frost Bankers in a research note on Monday. Finally, Royal Bank Of Canada lifted their price objective on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus target price of $148.73.

Cullen/Frost Bankers Trading Down 0.8%

CFR opened at $134.46 on Thursday. The stock has a market capitalization of $8.44 billion, a PE ratio of 13.09, a P/E/G ratio of 3.44 and a beta of 0.55. The firm’s fifty day moving average price is $139.27 and its 200 day moving average price is $135.76. 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, Inc. has a 12-month low of $119.00 and a 12-month high of $148.97.

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

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $1.03 dividend. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, May 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 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.