Legal & General Group Plc Takes $12.52 Million Position in Cullen/Frost Bankers, Inc. $CFR

Legal & General Group Plc acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 81,034 shares of the bank’s stock, valued at approximately $12,521,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CFR. BlackRock Inc. bought a new stake in Cullen/Frost Bankers in the 2nd quarter valued at approximately $1,133,453,000. Dimensional Fund Advisors LP grew its stake in shares of Cullen/Frost Bankers by 18.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after acquiring an additional 236,808 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cullen/Frost Bankers by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank’s stock valued at $155,059,000 after purchasing an additional 10,246 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Cullen/Frost Bankers by 11.8% in the first quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock valued at $165,966,000 after purchasing an additional 127,483 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Cullen/Frost Bankers by 2.3% in the third quarter. Northern Trust Corp now owns 965,821 shares of the bank’s stock worth $122,437,000 after purchasing an additional 21,793 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CFR. Morgan Stanley increased their target price on shares of Cullen/Frost Bankers from $133.00 to $141.00 and gave the stock an “underweight” rating in a report on Monday, June 29th. Citigroup lifted their price target on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Raymond James Financial restated a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods raised their price objective on Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, DA Davidson raised their price objective on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $161.75.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $161.19 on Tuesday. The company has a market cap of $10.02 billion, a P/E ratio of 15.24, a P/E/G ratio of 2.48 and a beta of 0.53. The firm’s fifty day moving average price is $161.58 and its two-hundred day moving average price is $147.46. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $170.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.15. The company had revenue of $576.01 million during the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same quarter last year, the company posted $2.39 EPS. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 10.9 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $1.03 per share. The ex-dividend date is Monday, August 31st. This represents a $4.12 annualized dividend and a yield of 2.6%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 38.94%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the completion of the sale, the executive vice president directly owned 12,712 shares in the company, valued at $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.14% of the stock is owned by company insiders.

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.