Commerce Bank Invests $1.74 Million in Cullen/Frost Bankers, Inc. $CFR

Commerce Bank purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,251 shares of the bank’s stock, valued at approximately $1,739,000.

Other large investors have also added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in Cullen/Frost Bankers during the 3rd quarter worth $28,000. Covestor Ltd lifted its position in shares of Cullen/Frost Bankers by 67.6% during the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock valued at $31,000 after acquiring an additional 100 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Cullen/Frost Bankers during the 2nd quarter valued at $38,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth $41,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Cullen/Frost Bankers by 40.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $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.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the firm’s stock in a transaction that occurred 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 in the company, 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 filing with the SEC, which is available at this link. 1.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CFR has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 15th. Royal Bank Of Canada upped their price objective on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods increased their price objective on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Raymond James Financial reissued a “market perform” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 1st. Finally, Stephens boosted their target price on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $161.75.

Cullen/Frost Bankers Stock Down 0.6%

Shares of NYSE CFR opened at $163.43 on Wednesday. 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 company has a market cap of $10.16 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 2.52 and a beta of 0.53. Cullen/Frost Bankers, Inc. has a 12 month low of $119.00 and a 12 month high of $170.80. The stock has a 50-day moving average price of $160.36 and a two-hundred day moving average price of $147.01.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $589.72 million. During the same period last year, the company posted $2.39 EPS. As a group, analysts forecast that Cullen/Frost Bankers, Inc. will post 10.9 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.12 annualized dividend and a yield of 2.5%. Cullen/Frost Bankers’s dividend payout ratio is presently 38.94%.

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.