Greenwood Capital Associates LLC Makes New Investment in Cullen/Frost Bankers, Inc. $CFR

Greenwood Capital Associates LLC acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 1st quarter, Holdings Channel reports. The firm acquired 3,578 shares of the bank’s stock, valued at approximately $490,000.

A number of other institutional investors have also added to or reduced their stakes in CFR. Diversified Trust Co. raised its position in shares of Cullen/Frost Bankers by 0.5% during the fourth quarter. Diversified Trust Co. now owns 13,868 shares of the bank’s stock worth $1,756,000 after purchasing an additional 74 shares during the period. Matrix Trust Co lifted its position in shares of Cullen/Frost Bankers by 40.4% during the fourth quarter. Matrix Trust Co now owns 320 shares of the bank’s stock valued at $41,000 after purchasing an additional 92 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Cullen/Frost Bankers by 2.9% during the 3rd quarter. Private Advisor Group LLC now owns 3,283 shares of the bank’s stock worth $416,000 after buying an additional 94 shares in the last quarter. Cardinal Capital Management boosted its position in Cullen/Frost Bankers by 0.5% in the fourth quarter. Cardinal Capital Management now owns 18,134 shares of the bank’s stock worth $2,296,000 after purchasing an additional 98 shares during the last quarter. Finally, Evolve Private Wealth LLC boosted its holdings in shares of Cullen/Frost Bankers by 6.0% in the 1st quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank’s stock worth $237,000 after buying an additional 98 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $155.21 on Friday. Cullen/Frost Bankers, Inc. has a 1-year low of $119.00 and a 1-year high of $157.51. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $143.90 and a 200-day moving average of $140.14. The firm has a market cap of $9.75 billion, a P/E ratio of 15.11, a P/E/G ratio of 2.74 and a beta of 0.54.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $574.84 million for the quarter, compared to analyst estimates 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 period last year, the company earned $2.30 EPS. Sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 10.57 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 29th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. Cullen/Frost Bankers’s payout ratio is presently 40.12%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley increased 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. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Cullen/Frost Bankers in a research note on Monday, June 1st. DA Davidson upped their target price on Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Barclays raised their price objective on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and an average price target of $151.92.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Carol Jean Severyn sold 837 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the sale, the executive vice president directly owned 12,712 shares of the company’s stock, valued at $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.14% of the stock is owned by corporate insiders.

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.