Crescent Grove Advisors LLC Invests $3.42 Million in Cullen/Frost Bankers, Inc. $CFR

Crescent Grove Advisors LLC bought a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 24,964 shares of the bank’s stock, valued at approximately $3,422,000.

A number of other institutional investors have also recently added to or reduced their stakes in CFR. Advisory Services Network LLC acquired a new position in Cullen/Frost Bankers during the third quarter worth $28,000. Covestor Ltd grew its position 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 shares of Cullen/Frost Bankers by 252.1% during the fourth quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock worth $33,000 after purchasing an additional 184 shares in the last quarter. Matrix Trust Co increased its stake in shares of 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 position 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 purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity

In related news, EVP Carol Jean Severyn sold 837 shares of the stock in a transaction that occurred 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 owned 12,712 shares of the company’s stock, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

CFR has been the topic of a number of research reports. Royal Bank Of Canada raised their price target 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. TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. Citigroup increased their target price on Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Morgan Stanley raised their target price on Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an “underweight” rating in a research report on Monday, June 29th. Finally, DA Davidson lifted their price target on Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $152.42.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $161.48 on Friday. The company has a market cap of $10.14 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.88 and a beta of 0.54. Cullen/Frost Bankers, Inc. has a twelve month low of $119.00 and a twelve month high of $163.80. The company’s 50-day moving average price is $146.08 and its 200-day moving average price is $141.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data 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 company had revenue of $574.84 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $2.30 EPS. On average, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 10.57 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, May 29th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. Cullen/Frost Bankers’s payout ratio is presently 40.12%.

Cullen/Frost Bankers Company 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.