Vaughan Nelson Investment Management L.P. Boosts Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Vaughan Nelson Investment Management L.P. increased its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 19.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 711,527 shares of the bank’s stock after purchasing an additional 114,910 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 1.11% of Cullen/Frost Bankers worth $89,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. HighTower Advisors LLC grew its stake in shares of Cullen/Frost Bankers by 8.3% during the fourth quarter. HighTower Advisors LLC now owns 13,083 shares of the bank’s stock valued at $1,756,000 after buying an additional 1,003 shares during the last quarter. Vanguard Group Inc. grew its position in Cullen/Frost Bankers by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank’s stock worth $855,884,000 after acquiring an additional 66,243 shares during the last quarter. US Bancorp DE increased its stake in Cullen/Frost Bankers by 15.1% in the 4th quarter. US Bancorp DE now owns 4,339 shares of the bank’s stock worth $583,000 after purchasing an additional 568 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Cullen/Frost Bankers by 42.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,090 shares of the bank’s stock worth $549,000 after purchasing an additional 1,222 shares during the period. Finally, Truist Financial Corp lifted its position in Cullen/Frost Bankers by 122.1% in the fourth quarter. Truist Financial Corp now owns 32,842 shares of the bank’s stock valued at $4,409,000 after purchasing an additional 18,053 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Stephens upped their price target on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Barclays upped their price objective on shares of Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Evercore ISI raised Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 target price on the stock in a research note on Friday, May 2nd. Royal Bank of Canada reduced their price target on Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Finally, Morgan Stanley dropped their price objective on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $131.93.

Insiders Place Their Bets

In related news, CAO Matthew Bradley Henson purchased 1,870 shares of the stock in a transaction dated Friday, May 2nd. The stock was purchased at an average price of $16.93 per share, with a total value of $31,659.10. Following the transaction, the chief accounting officer now directly owns 5,545 shares in the company, valued at $93,876.85. This trade represents a 50.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Down 2.2%

Shares of Cullen/Frost Bankers stock opened at $123.79 on Friday. Cullen/Frost Bankers, Inc. has a 1 year low of $94.55 and a 1 year high of $147.64. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 6.46 and a beta of 0.68. The company has a 50-day moving average of $121.98 and a 200 day moving average of $129.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.68 and a quick ratio of 0.68.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.13. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. The business had revenue of $560.42 million during the quarter, compared to the consensus estimate of $540.57 million. During the same quarter last year, the firm earned $2.15 earnings per share. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $1.00 per share. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. The ex-dividend date was Friday, May 30th. This represents a $4.00 dividend on an annualized basis and a yield of 3.23%. Cullen/Frost Bankers’s payout ratio is presently 43.91%.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.