Confluence Investment Management LLC Raises Holdings in Cullen/Frost Bankers, Inc. (CFR)

Confluence Investment Management LLC raised its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 178,763 shares of the bank’s stock after purchasing an additional 8,733 shares during the quarter. Confluence Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $17,352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CFR. JPMorgan Chase & Co. boosted its stake in Cullen/Frost Bankers by 3.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,928 shares of the bank’s stock valued at $192,894,000 after purchasing an additional 64,878 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Cullen/Frost Bankers by 6.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 786,891 shares of the bank’s stock valued at $82,182,000 after purchasing an additional 46,422 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cullen/Frost Bankers by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 466,575 shares of the bank’s stock valued at $48,729,000 after purchasing an additional 9,859 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Cullen/Frost Bankers by 18.0% during the 3rd quarter. Franklin Resources Inc. now owns 8,396 shares of the bank’s stock worth $877,000 after acquiring an additional 1,280 shares in the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Cullen/Frost Bankers by 13.6% during the 3rd quarter. United Services Automobile Association now owns 19,805 shares of the bank’s stock worth $2,068,000 after acquiring an additional 2,377 shares in the last quarter. 81.23% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Carol Jean Severyn sold 3,750 shares of the firm’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $100.62, for a total transaction of $377,325.00. Following the completion of the sale, the executive vice president now directly owns 1,250 shares of the company’s stock, valued at approximately $125,775. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.84% of the company’s stock.

CFR opened at $104.08 on Wednesday. The firm has a market cap of $6.47 billion, a PE ratio of 15.08, a P/E/G ratio of 1.52 and a beta of 1.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a fifty-two week low of $81.87 and a fifty-two week high of $121.66.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, January 31st. The bank reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.07. The business had revenue of $360.93 million during the quarter, compared to analyst estimates of $344.18 million. Cullen/Frost Bankers had a return on equity of 14.38% and a net margin of 32.44%. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 7.11 earnings per share for the current fiscal year.

CFR has been the subject of several research reports. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Wednesday, January 2nd. Stephens set a $104.00 price objective on Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Friday, February 8th. Barclays reissued a “hold” rating and set a $105.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, January 11th. Finally, Bank of America lowered Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and set a $96.00 price objective for the company. in a research note on Thursday, January 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $107.44.

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Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.

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Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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