Whittier Trust Co. Buys 7,061 Shares of Cullen/Frost Bankers, Inc. $CFR

Whittier Trust Co. grew its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 10.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,835 shares of the bank’s stock after purchasing an additional 7,061 shares during the quarter. Whittier Trust Co. owned approximately 0.12% of Cullen/Frost Bankers worth $10,332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in Cullen/Frost Bankers during the 4th quarter valued at $92,904,000. Two Sigma Investments LP grew 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 worth $47,409,000 after acquiring an additional 356,373 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew 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 worth $44,760,000 after acquiring an additional 351,363 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Cullen/Frost Bankers in the third quarter valued at about $29,687,000. Finally, UBS Group AG increased its position in shares of Cullen/Frost Bankers by 197.5% in the third 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 during the period. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Up 0.0%

CFR traded up $0.01 on Tuesday, hitting $156.28. The company had a trading volume of 28,613 shares, compared to its average volume of 561,961. The stock has a fifty day simple moving average of $143.15 and a 200-day simple moving average of $139.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $9.81 billion, a P/E ratio of 15.23, a P/E/G ratio of 3.90 and a beta of 0.54. Cullen/Frost Bankers, Inc. has a 52-week low of $119.00 and a 52-week high of $157.34.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) 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 analyst estimates 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 quarter in the prior year, the company earned $2.30 EPS. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 10.54 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 29th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 2.6%. Cullen/Frost Bankers’s payout ratio is currently 40.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Citigroup boosted their price target on Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Barclays upped their price target on Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Tuesday. Morgan Stanley increased their price objective on Cullen/Frost Bankers from $133.00 to $141.00 and gave the stock an “underweight” rating in a report on Monday, June 29th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $151.92.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the transaction, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.14% of the company’s stock.

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.