Madison Asset Management LLC Invests $62.28 Million in Cullen/Frost Bankers, Inc. $CFR

Madison Asset Management LLC acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 2nd quarter, HoldingsChannel reports. The fund acquired 403,055 shares of the bank’s stock, valued at approximately $62,280,000.

Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in Cullen/Frost Bankers during the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC purchased a new position in Cullen/Frost Bankers in the 2nd quarter valued at approximately $38,000. Covestor Ltd boosted its position in Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock valued at $31,000 after buying an additional 100 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Cullen/Frost Bankers in the first quarter worth $41,000. Finally, Geneos Wealth Management Inc. grew its stake 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 worth $46,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CFR. TD Cowen upped their price objective on Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Cantor Fitzgerald lifted their target price on Cullen/Frost Bankers from $158.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday. Jefferies Financial Group raised Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. Raymond James Financial restated a “market perform” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods increased their price target on Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $161.75.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $164.73 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 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 $170.80. The firm’s 50 day moving average is $158.94 and its two-hundred day moving average is $146.33. The firm has a market capitalization of $10.24 billion, a P/E ratio of 15.57, a P/E/G ratio of 2.59 and a beta of 0.53.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $576.01 million during the quarter, compared to the consensus estimate of $589.72 million. During the same quarter in the previous year, the firm earned $2.39 EPS. Research analysts forecast that Cullen/Frost Bankers, Inc. will post 10.8 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Carol Jean Severyn sold 837 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 12,712 shares of the company’s stock, valued at $1,885,062.48. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.14% of the stock is currently owned by company insiders.

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.