Legal & General Group Plc Sells 5,202 Shares of Cullen/Frost Bankers, Inc. $CFR

Legal & General Group Plc trimmed its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,970 shares of the bank’s stock after selling 5,202 shares during the quarter. Legal & General Group Plc owned approximately 0.15% of Cullen/Frost Bankers worth $11,646,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CFR. Goldman Sachs Group Inc. boosted its stake in shares of Cullen/Frost Bankers by 61.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock worth $75,833,000 after acquiring an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cullen/Frost Bankers by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock worth $20,896,000 after acquiring an additional 15,063 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Cullen/Frost Bankers by 40.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after acquiring an additional 106 shares during the period. Invesco Ltd. boosted its stake in shares of Cullen/Frost Bankers by 12.2% during the 2nd quarter. Invesco Ltd. now owns 126,040 shares of the bank’s stock worth $16,201,000 after acquiring an additional 13,718 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Cullen/Frost Bankers by 82.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank’s stock worth $151,000 after acquiring an additional 532 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CFR. TD Cowen upgraded Cullen/Frost Bankers to a “strong-buy” rating in a research note on Monday, April 13th. Barclays lifted their target price on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada lifted their target price on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Cantor Fitzgerald reiterated a “neutral” rating on shares of Cullen/Frost Bankers in a research note on Monday. Finally, Citigroup lifted their target price on Cullen/Frost Bankers from $125.00 to $131.00 and gave the stock a “sell” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $148.73.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $134.46 on Thursday. The stock has a market cap of $8.44 billion, a P/E ratio of 13.09, a PEG ratio of 3.44 and a beta of 0.55. The stock has a 50 day simple moving average of $139.27 and a 200 day simple moving average of $135.76. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 1-year low of $119.00 and a 1-year high of $148.97.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly 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 business had revenue of $574.84 million during the quarter, compared to analysts’ expectations of $587.29 million. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.During the same period last year, the firm posted $2.30 EPS. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.46 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, May 29th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. Cullen/Frost Bankers’s payout ratio is 40.12%.

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.