Cullen/Frost Bankers, Inc. $CFR Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC trimmed its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 335,573 shares of the bank’s stock after selling 21,301 shares during the quarter. Madison Asset Management LLC owned approximately 0.53% of Cullen/Frost Bankers worth $46,000,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Cullen/Frost Bankers during the fourth quarter valued at $92,904,000. Two Sigma Investments LP increased its holdings in Cullen/Frost Bankers by 2,024.4% in the third quarter. Two Sigma Investments LP now owns 373,977 shares of the bank’s stock valued at $47,409,000 after buying an additional 356,373 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Cullen/Frost Bankers by 16,676.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 353,470 shares of the bank’s stock valued at $44,760,000 after buying an additional 351,363 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cullen/Frost Bankers by 18.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after acquiring an additional 236,808 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Cullen/Frost Bankers in the third quarter worth about $29,687,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Carol Jean Severyn sold 837 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 12,712 shares in the company, valued at $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.14% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Stock Up 0.2%

Shares of NYSE CFR opened at $161.90 on Tuesday. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 2.88 and a beta of 0.54. The company’s 50-day simple moving average is $146.61 and its 200-day simple moving average is $141.66. 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, Inc. has a 52-week low of $119.00 and a 52-week high of $163.80.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. The firm had revenue of $574.84 million during the quarter, compared to the consensus estimate of $587.28 million. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. During the same quarter in the prior year, the firm earned $2.30 EPS. Equities analysts predict that Cullen/Frost Bankers, Inc. will post 10.57 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, May 29th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. Cullen/Frost Bankers’s payout ratio is currently 40.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CFR shares. Citigroup raised their target price on Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Raymond James Financial reaffirmed a “market perform” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 1st. Cantor Fitzgerald raised their price objective on Cullen/Frost Bankers from $154.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. DA Davidson boosted their price objective on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, TD Cowen upgraded Cullen/Frost Bankers to a “strong-buy” rating in a research report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given 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 an average target price of $152.42.

Cullen/Frost Bankers 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.