Bank of New York Mellon Corp Buys 2,420 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bank of New York Mellon Corp grew its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 648,922 shares of the bank’s stock after purchasing an additional 2,420 shares during the period. Bank of New York Mellon Corp owned approximately 1.01% of Cullen/Frost Bankers worth $65,950,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CFR. GAMMA Investing LLC purchased a new stake in Cullen/Frost Bankers during the fourth quarter valued at $43,000. Atria Wealth Solutions Inc. lifted its holdings in shares of Cullen/Frost Bankers by 99.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 5,344 shares of the bank’s stock valued at $580,000 after acquiring an additional 2,666 shares during the last quarter. Russell Investments Group Ltd. grew its position in Cullen/Frost Bankers by 3.5% in the fourth quarter. Russell Investments Group Ltd. now owns 102,239 shares of the bank’s stock worth $11,092,000 after acquiring an additional 3,419 shares in the last quarter. Victory Capital Management Inc. grew its position in Cullen/Frost Bankers by 16.8% in the fourth quarter. Victory Capital Management Inc. now owns 13,390 shares of the bank’s stock worth $1,453,000 after acquiring an additional 1,929 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its position in Cullen/Frost Bankers by 15.5% during the fourth quarter. Benjamin Edwards Inc. now owns 1,784 shares of the bank’s stock valued at $193,000 after purchasing an additional 240 shares during the period. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Trading Down 0.2 %

Shares of NYSE:CFR opened at $112.16 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $123.17. The business has a 50 day moving average of $107.67 and a two-hundred day moving average of $106.69. The company has a market capitalization of $7.21 billion, a PE ratio of 13.26, a PEG ratio of 1.36 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. The company had revenue of $528.81 million during the quarter, compared to analysts’ expectations of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter in the previous year, the company earned $2.47 earnings per share. As a group, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, August 30th. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a yield of 3.39%. Cullen/Frost Bankers’s dividend payout ratio is currently 44.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CFR shares. Evercore ISI dropped their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a report on Tuesday, June 25th. Stephens increased their target price on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. DA Davidson upped their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $119.93.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Company 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.