The Manufacturers Life Insurance Company Has $70.84 Million Stake in Cullen/Frost Bankers, Inc. $CFR

The Manufacturers Life Insurance Company trimmed its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 17.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 516,797 shares of the bank’s stock after selling 105,747 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.82% of Cullen/Frost Bankers worth $70,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at approximately $28,000. Covestor Ltd lifted its position in shares of Cullen/Frost Bankers by 67.6% in the fourth quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. increased its stake in Cullen/Frost Bankers by 252.1% in the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock valued at $33,000 after buying an additional 184 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Cullen/Frost Bankers in the 1st quarter valued at $41,000. Finally, Geneos Wealth Management Inc. lifted its position in 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 buying an additional 106 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Carol Jean Severyn sold 837 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CFR. Morgan Stanley lifted their target price on Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an “underweight” rating in a research report on Monday, June 29th. Stephens upgraded Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Citigroup boosted their price target on Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. Jefferies Financial Group upgraded Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $152.42.

Cullen/Frost Bankers Trading Up 0.1%

Shares of NYSE:CFR opened at $167.23 on Thursday. Cullen/Frost Bankers, Inc. has a 52-week low of $119.00 and a 52-week high of $168.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $10.50 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 2.98 and a beta of 0.54. The company has a 50-day simple moving average of $150.47 and a 200 day simple moving average of $143.26.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The firm had revenue of $574.84 million for the quarter, compared to analyst estimates of $587.28 million. During the same quarter in the prior year, the company earned $2.30 earnings per share. Sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 10.57 earnings per share for the current year.

Cullen/Frost Bankers Company 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.