Cullen/Frost Bankers, Inc. $CFR Position Reduced by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 47.1% during the fourth quarter, HoldingsChannel reports. The fund owned 21,333 shares of the bank’s stock after selling 18,973 shares during the quarter. Truist Financial Corp’s holdings in Cullen/Frost Bankers were worth $2,701,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Cullen/Frost Bankers by 6.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,187,406 shares of the bank’s stock worth $150,529,000 after purchasing an additional 77,028 shares during the period. Bank of America Corp DE increased its stake in Cullen/Frost Bankers by 8.5% during the 3rd quarter. Bank of America Corp DE now owns 1,129,673 shares of the bank’s stock valued at $143,209,000 after buying an additional 88,080 shares during the period. Northern Trust Corp increased its stake in Cullen/Frost Bankers by 2.3% during the 3rd quarter. Northern Trust Corp now owns 965,821 shares of the bank’s stock valued at $122,437,000 after buying an additional 21,793 shares during the period. Impax Asset Management Group plc increased its stake in Cullen/Frost Bankers by 11.9% during the 3rd quarter. Impax Asset Management Group plc now owns 920,833 shares of the bank’s stock valued at $116,734,000 after buying an additional 97,955 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Cullen/Frost Bankers by 8.0% in the 3rd quarter. First Trust Advisors LP now owns 705,101 shares of the bank’s stock worth $89,386,000 after purchasing an additional 52,094 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CFR shares. TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. Keefe, Bruyette & Woods lifted their target price on shares of Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Weiss Ratings upgraded shares of Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Cantor Fitzgerald boosted their target price on shares of Cullen/Frost Bankers from $141.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada boosted 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 report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $145.08.

Cullen/Frost Bankers Price Performance

Shares of CFR opened at $136.13 on Wednesday. The stock has a market capitalization of $8.55 billion, a P/E ratio of 13.26, a P/E/G ratio of 3.46 and a beta of 0.58. Cullen/Frost Bankers, Inc. has a twelve month low of $119.00 and a twelve month high of $148.97. The company has a 50 day moving average of $138.47 and a 200-day moving average of $134.28. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05.

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, beating 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 business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $587.29 million. During the same quarter last year, the firm posted $2.30 EPS. As a group, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 10.41 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a $1.03 dividend. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, May 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 38.95%.

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.