Legal & General Group Plc Has $11.65 Million Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Legal & General Group Plc cut its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,970 shares of the bank’s stock after selling 5,202 shares during the period. Legal & General Group Plc’s holdings in Cullen/Frost Bankers were worth $11,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFR. Two Sigma Investments LP raised its holdings in Cullen/Frost Bankers by 2,024.4% in the 3rd quarter. Two Sigma Investments LP now owns 373,977 shares of the bank’s stock valued at $47,409,000 after acquiring an additional 356,373 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Cullen/Frost Bankers by 16,676.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 353,470 shares of the bank’s stock valued at $44,760,000 after acquiring an additional 351,363 shares in the last quarter. Fiera Capital Corp acquired a new position in Cullen/Frost Bankers in the 3rd quarter valued at $29,769,000. Millennium Management LLC acquired a new position in Cullen/Frost Bankers in the 3rd quarter valued at $29,687,000. Finally, UBS Group AG raised its holdings in Cullen/Frost Bankers by 197.5% in the 3rd quarter. UBS Group AG now owns 349,601 shares of the bank’s stock valued at $44,319,000 after acquiring an additional 232,077 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on CFR. DA Davidson lifted their price objective on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Citigroup boosted their price target on Cullen/Frost Bankers from $125.00 to $131.00 and gave the stock a “sell” rating in a report on Thursday, May 7th. Weiss Ratings raised Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Cullen/Frost Bankers in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $148.73.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $134.46 on Thursday. 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 52 week low of $119.00 and a 52 week high of $148.97. The stock has a market capitalization of $8.44 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 3.44 and a beta of 0.55. The stock has a fifty day moving average of $139.27 and a 200-day moving average of $135.76.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The company had revenue of $574.84 million during the quarter, compared to analysts’ expectations of $587.29 million. During the same quarter in the previous year, the firm earned $2.30 EPS. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 10.46 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

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

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.