Greenwood Capital Associates LLC Purchases New Shares in Cullen/Frost Bankers, Inc. $CFR

Greenwood Capital Associates LLC bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,578 shares of the bank’s stock, valued at approximately $490,000.

Several other large investors have also made changes to their positions in the company. M&T Bank Corp lifted its holdings in Cullen/Frost Bankers by 13.5% in the fourth quarter. M&T Bank Corp now owns 109,154 shares of the bank’s stock valued at $13,822,000 after buying an additional 12,990 shares during the period. Concurrent Investment Advisors LLC grew its stake in Cullen/Frost Bankers by 863.1% in the fourth quarter. Concurrent Investment Advisors LLC now owns 21,448 shares of the bank’s stock valued at $2,716,000 after acquiring an additional 19,221 shares during the period. ProShare Advisors LLC grew its position in shares of Cullen/Frost Bankers by 3.7% in the 4th quarter. ProShare Advisors LLC now owns 268,194 shares of the bank’s stock valued at $33,961,000 after purchasing an additional 9,612 shares during the period. Tudor Investment Corp ET AL boosted its holdings in shares of Cullen/Frost Bankers by 915.0% in the third quarter. Tudor Investment Corp ET AL now owns 43,036 shares of the bank’s stock valued at $5,456,000 after buying an additional 38,796 shares during the period. Finally, Marshall Financial Group LLC acquired a new position in Cullen/Frost Bankers in the 4th quarter worth $1,142,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Carol Jean Severyn sold 837 shares of the 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 sale, the executive vice president directly owned 12,712 shares in the company, valued at $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Jefferies Financial Group raised Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $135.00 to $160.00 in a research report on Monday. DA Davidson increased their price objective on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Cantor Fitzgerald reissued a “neutral” rating on shares of Cullen/Frost Bankers in a report on Monday, June 1st. Finally, Citigroup lifted their price objective on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $151.92.

Cullen/Frost Bankers Trading Up 1.0%

CFR opened at $155.21 on Friday. Cullen/Frost Bankers, Inc. has a 1-year low of $119.00 and a 1-year high of $157.51. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The company has a market cap of $9.75 billion, a P/E ratio of 15.11, a PEG ratio of 2.74 and a beta of 0.54. The company’s 50 day moving average is $143.90 and its 200-day moving average is $140.14.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.16. The company had revenue of $574.84 million during the quarter, compared to the consensus estimate of $587.28 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 business earned $2.30 earnings per share. Equities research analysts predict that Cullen/Frost Bankers, Inc. will post 10.57 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 29th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. Cullen/Frost Bankers’s 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.