Bank of New York Mellon Corp Increases Stake in Cullen/Frost Bankers, Inc. $CFR

Bank of New York Mellon Corp increased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 543,468 shares of the bank’s stock after buying an additional 3,755 shares during the period. Bank of New York Mellon Corp’s holdings in Cullen/Frost Bankers were worth $74,499,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CFR. Advisory Services Network LLC acquired a new stake in Cullen/Frost Bankers during the 3rd quarter worth approximately $28,000. Covestor Ltd grew its stake in Cullen/Frost Bankers by 67.6% during the fourth quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after buying an additional 100 shares during the period. Blue Trust Inc. increased its position in shares of Cullen/Frost Bankers by 252.1% in the fourth quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock worth $33,000 after acquiring an additional 184 shares in the last quarter. Matrix Trust Co raised its stake in shares of Cullen/Frost Bankers by 40.4% in the 4th quarter. Matrix Trust Co now owns 320 shares of the bank’s stock valued at $41,000 after acquiring an additional 92 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Cullen/Frost Bankers by 40.8% in the 1st 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. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Up 0.3%

Shares of Cullen/Frost Bankers stock opened at $162.49 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. The firm has a market cap of $10.20 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.89 and a beta of 0.54. Cullen/Frost Bankers, Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $163.80. The business has a 50-day moving average price of $147.14 and a 200 day moving average price of $141.92.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $574.84 million for the quarter, compared to the consensus estimate of $587.28 million. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.During the same quarter last year, the business posted $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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.5%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, May 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 40.12%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction on Friday, June 12th. The shares were sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the transaction, the executive vice president owned 12,712 shares of the company’s stock, valued at $1,885,062.48. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CFR has been the subject of several recent research reports. Cantor Fitzgerald increased their price target on Cullen/Frost Bankers from $154.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Citigroup boosted their price objective on Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Jefferies Financial Group raised Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and upped their target price for the stock from $135.00 to $160.00 in a research report on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 15th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $152.42.

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.