Equitable Holdings Inc. Invests $848,000 in Cullen/Frost Bankers, Inc. $CFR

Equitable Holdings Inc. bought a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,488 shares of the bank’s stock, valued at approximately $848,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFR. BlackRock Inc. acquired a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at about $1,133,453,000. Dimensional Fund Advisors LP increased its position in Cullen/Frost Bankers by 18.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after purchasing an additional 236,808 shares in the last quarter. Geode Capital Management LLC increased its position in Cullen/Frost Bankers by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank’s stock worth $155,059,000 after purchasing an additional 10,246 shares in the last quarter. Bank of America Corp DE raised its holdings in Cullen/Frost Bankers by 11.8% in the first quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock valued at $165,966,000 after buying an additional 127,483 shares during the period. Finally, Northern Trust Corp lifted its position in Cullen/Frost Bankers by 2.3% during the third 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 in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $161.90 on Friday. Cullen/Frost Bankers, Inc. has a 52 week low of $119.00 and a 52 week high of $170.80. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. The stock has a market cap of $10.06 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53. The stock has a 50 day moving average of $161.35 and a 200-day moving average of $147.36.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. The company had revenue of $576.01 million during the quarter, compared to the consensus estimate of $589.72 million. During the same quarter in the previous year, the firm earned $2.39 EPS. On average, analysts expect that Cullen/Frost Bankers, Inc. will post 10.9 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, August 31st. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. Cullen/Frost Bankers’s payout ratio is 38.94%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CFR shares. Keefe, Bruyette & Woods lifted their target price on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Jefferies Financial Group upgraded Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. Royal Bank Of Canada increased their target price on Cullen/Frost Bankers from $168.00 to $176.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Raymond James Financial reiterated a “market perform” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 1st. Finally, DA Davidson upped their price target on Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $161.75.

Insider Buying and Selling at Cullen/Frost Bankers

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

About Cullen/Frost Bankers

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.