Cullen/Frost Bankers, Inc. $CFR Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 11.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 672,782 shares of the bank’s stock after selling 84,573 shares during the quarter. JPMorgan Chase & Co. owned about 1.05% of Cullen/Frost Bankers worth $85,289,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cullen Frost Bankers Inc. grew its stake in Cullen/Frost Bankers by 62.0% during the third quarter. Cullen Frost Bankers Inc. now owns 38,734 shares of the bank’s stock worth $4,910,000 after buying an additional 14,831 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Cullen/Frost Bankers by 3,892.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 100,368 shares of the bank’s stock valued at $12,901,000 after acquiring an additional 97,854 shares during the period. Truist Financial Corp lifted its holdings in shares of Cullen/Frost Bankers by 21.8% during the 3rd quarter. Truist Financial Corp now owns 40,306 shares of the bank’s stock valued at $5,110,000 after acquiring an additional 7,217 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Cullen/Frost Bankers by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 100,690 shares of the bank’s stock valued at $12,943,000 after acquiring an additional 3,313 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Cullen/Frost Bankers by 1,578.9% during the 3rd quarter. SG Americas Securities LLC now owns 18,686 shares of the bank’s stock worth $2,369,000 after purchasing an additional 17,573 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $137.07, for a total transaction of $137,070.00. Following the sale, the executive vice president directly owned 28,406 shares in the company, valued at $3,893,610.42. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.89% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $129.49 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.67 and a quick ratio of 0.67. The company’s fifty day moving average price is $139.32 and its two-hundred day moving average price is $130.85. The firm has a market capitalization of $8.18 billion, a P/E ratio of 13.05, a P/E/G ratio of 4.79 and a beta of 0.63. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $148.97.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.09. Cullen/Frost Bankers had a return on equity of 15.49% and a net margin of 22.21%.The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $578.05 million. During the same period last year, the firm earned $2.36 earnings per share. On average, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, February 27th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 40.32%.

Analyst Ratings Changes

Several analysts recently issued reports on CFR shares. Keefe, Bruyette & Woods increased their price target on Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Citigroup upped their target price on Cullen/Frost Bankers from $114.00 to $125.00 and gave the stock a “sell” rating in a research report on Monday, February 2nd. DA Davidson increased their target price on Cullen/Frost Bankers from $136.00 to $144.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Barclays raised their target price on Cullen/Frost Bankers from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Finally, Weiss Ratings raised Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $142.67.

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.