Cullen/Frost Bankers, Inc. $CFR Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,224,265 shares of the bank’s stock after purchasing an additional 10,246 shares during the period. Geode Capital Management LLC’s holdings in Cullen/Frost Bankers were worth $155,059,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in Cullen/Frost Bankers during the third quarter valued at $28,000. Covestor Ltd increased its stake in Cullen/Frost Bankers by 67.6% during the fourth quarter. Covestor Ltd now owns 248 shares of the bank’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. increased its stake in Cullen/Frost Bankers by 252.1% during the fourth quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock valued at $33,000 after purchasing an additional 184 shares during the last quarter. Community Bank N.A. bought a new stake in Cullen/Frost Bankers during the third quarter valued at $35,000. Finally, Matrix Trust Co increased its stake in 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 during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CFR shares. Citigroup boosted their target price on shares of Cullen/Frost Bankers from $125.00 to $131.00 and gave the company a “sell” rating in a research note on Thursday, May 7th. Barclays boosted their target price on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a research note on Monday, April 13th. Morgan Stanley lowered their target price on shares of Cullen/Frost Bankers from $143.00 to $133.00 and set an “underweight” rating for the company in a research note on Tuesday, March 31st. Finally, Stephens upgraded shares of Cullen/Frost Bankers from an “equal weight” rating to an “overweight” rating and set a $164.00 target price for the company in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $148.73.

Cullen/Frost Bankers Stock Down 0.8%

Cullen/Frost Bankers stock opened at $134.46 on Thursday. The company has a 50-day simple moving average of $139.27 and a 200-day simple moving average of $135.76. The firm has a market capitalization of $8.44 billion, a P/E ratio of 13.09, a P/E/G ratio of 3.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $148.97.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The business had revenue of $574.84 million during the quarter, compared to analyst estimates of $587.29 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 earnings per share. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 10.46 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $1.03 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, May 29th. Cullen/Frost Bankers’s payout ratio is currently 40.12%.

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.