EFG International AG Takes $5.91 Million Position in Cullen/Frost Bankers, Inc. $CFR

EFG International AG purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the second quarter, Holdings Channel reports. The institutional investor purchased 38,197 shares of the bank’s stock, valued at approximately $5,906,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Palisade Capital Management LP acquired a new position in Cullen/Frost Bankers during the second quarter valued at approximately $16,089,000. Canada Pension Plan Investment Board bought a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $1,360,000. Legal & General Group Plc acquired a new stake in Cullen/Frost Bankers in the second quarter worth $12,521,000. The Manufacturers Life Insurance Company bought a new position in shares of Cullen/Frost Bankers during the second quarter worth $80,127,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Cullen/Frost Bankers during the second quarter worth $2,420,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $163.43 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 2.52 and a beta of 0.53. The stock’s 50-day moving average is $160.36 and its 200-day moving average is $147.01. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $170.80.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.15. The business had revenue of $576.01 million for the quarter, compared to analyst estimates of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same quarter last year, the firm earned $2.39 EPS. Equities analysts predict that Cullen/Frost Bankers, Inc. will post 10.9 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $1.03 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 38.94%.

Insider Activity

In other news, EVP Carol Jean Severyn sold 837 shares of the business’s 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Raymond James Financial restated a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods boosted their target price on Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Stephens raised their price target on Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Morgan Stanley lifted their price objective on Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an “underweight” rating in a report on Monday, June 29th. Finally, Cantor Fitzgerald boosted their price objective on Cullen/Frost Bankers from $158.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $161.75.

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.