The Manufacturers Life Insurance Company Sells 105,747 Shares of Cullen/Frost Bankers, Inc. $CFR

The Manufacturers Life Insurance Company cut its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 17.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 516,797 shares of the bank’s stock after selling 105,747 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cullen/Frost Bankers were worth $70,843,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of Cullen/Frost Bankers in the third quarter valued at approximately $28,000. Covestor Ltd lifted its holdings in Cullen/Frost Bankers by 67.6% during the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. lifted its holdings in Cullen/Frost Bankers by 252.1% during the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock worth $33,000 after purchasing an additional 184 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Cullen/Frost Bankers in the 1st quarter valued at $41,000. Finally, Geneos Wealth Management Inc. boosted its stake in Cullen/Frost Bankers by 40.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after purchasing an additional 106 shares during the period. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CFR shares. Stephens upgraded Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 15th. DA Davidson upped their price target on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Raymond James Financial reaffirmed a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Finally, Morgan Stanley lifted their price objective on shares of Cullen/Frost Bankers from $133.00 to $141.00 and gave the stock an “underweight” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $152.42.

Cullen/Frost Bankers Price Performance

CFR stock opened at $167.23 on Thursday. 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, Inc. has a 12 month low of $119.00 and a 12 month high of $168.65. The firm has a market cap of $10.50 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.98 and a beta of 0.54. The company’s 50-day moving average price is $150.47 and its two-hundred day moving average price is $143.26.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. The firm had revenue of $574.84 million during the quarter, compared to analysts’ expectations of $587.28 million. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.During the same period in the prior year, the company earned $2.30 earnings per share. On average, analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.57 earnings per share for the current fiscal year.

Insider Activity

In other Cullen/Frost Bankers 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 transaction of $124,118.73. Following the sale, the executive vice president owned 12,712 shares of the company’s stock, valued at approximately $1,885,062.48. The trade was a 6.18% decrease in their ownership of the stock. 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.