Royal Bank of Canada Buys 5,517 Shares of Cullen/Frost Bankers, Inc. $CFR

Royal Bank of Canada increased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 412,617 shares of the bank’s stock after acquiring an additional 5,517 shares during the quarter. Royal Bank of Canada owned about 0.66% of Cullen/Frost Bankers worth $56,561,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC acquired a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at about $28,000. Covestor Ltd raised its position in shares of Cullen/Frost Bankers by 67.6% during the fourth quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. lifted its stake in shares of Cullen/Frost Bankers by 252.1% in the fourth quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock valued at $33,000 after buying an additional 184 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in Cullen/Frost Bankers in the 1st quarter valued at about $41,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Key Headlines Impacting Cullen/Frost Bankers

Here are the key news stories impacting Cullen/Frost Bankers this week:

• Positive Sentiment: Q2 earnings beat expectations: Cullen/Frost reported $2.70 in diluted EPS, up from $2.39 a year earlier, exceeding the $2.55 consensus estimate. Revenue of approximately $608.7 million also surpassed the $589.7 million forecast. Cullen/Frost Reports Second Quarter Results
• Positive Sentiment: Healthy operating trends: Taxable-equivalent net interest income rose 4.3% year over year to $470.1 million, average loans increased 7.4% to $22.6 billion, and non-interest income climbed 9.4% to $128.3 million. Improved credit quality and a record loan pipeline also helped reinforce the growth outlook. Cullen-Frost Q2 Earnings Beat
• Positive Sentiment: More bullish analyst views: Stephens raised its price target from $169 to $183 and upgraded its stance to “overweight.” Keefe, Bruyette & Woods lifted its target to $175 with an “outperform” rating, while RBC raised its target to $176 but maintained a “sector perform” rating. Analyst Price Target Updates
• Positive Sentiment: Capital returns remain supportive: The bank declared a quarterly common-stock dividend of $1.03 per share, representing an annualized yield of roughly 2.5%, and repurchased approximately $90 million of its shares during the quarter.
• Neutral Sentiment: Mixed analyst consensus: Despite the target increases, brokerages collectively maintain an average “hold” recommendation, suggesting that some investors view the recent gains and valuation as largely reflected in the stock price. Average Hold Recommendation
• Negative Sentiment: Expense growth remains a consideration: Non-interest expense rose 4.2% year over year to $361.7 million, which could limit profit expansion if operating costs accelerate faster than revenue.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $166.47 on Friday. The company has a market capitalization of $10.45 billion, a PE ratio of 15.73, a P/E/G ratio of 2.97 and a beta of 0.54. Cullen/Frost Bankers, Inc. has a twelve month low of $119.00 and a twelve month high of $169.09. The firm has a fifty day simple moving average of $151.51 and a two-hundred day simple moving average of $143.62. 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 (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.15. The business had revenue of $608.65 million for the quarter, compared to analyst estimates of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.64% and a net margin of 29.29%.During the same period last year, the company earned $2.39 EPS. Research analysts expect that Cullen/Frost Bankers, Inc. will post 10.79 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio is currently 40.12%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CFR. Citigroup raised their price target on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Cantor Fitzgerald upped their price target on Cullen/Frost Bankers from $154.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a research note on Monday, April 13th. Keefe, Bruyette & Woods increased their price objective on Cullen/Frost Bankers from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Stephens raised their price target on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $157.00.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the 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 completion of the sale, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.14% of the company’s stock.

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.