Mutual of America Capital Management LLC Sells 1,465 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Mutual of America Capital Management LLC cut its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 36,789 shares of the bank’s stock after selling 1,465 shares during the period. Mutual of America Capital Management LLC’s holdings in Cullen/Frost Bankers were worth $3,739,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CFR. Vanguard Group Inc. grew its stake in shares of Cullen/Frost Bankers by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock worth $695,729,000 after buying an additional 19,755 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Cullen/Frost Bankers by 18.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after acquiring an additional 495,215 shares in the last quarter. Janus Henderson Group PLC grew its position in Cullen/Frost Bankers by 18.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after acquiring an additional 161,580 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Cullen/Frost Bankers by 14.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after purchasing an additional 120,333 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Cullen/Frost Bankers by 1.6% in the first quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock valued at $92,432,000 after purchasing an additional 12,897 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Stephens boosted their price target on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Evercore ISI reduced their target price on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. Truist Financial decreased their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research report on Friday. Morgan Stanley lowered shares of Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $112.00 to $121.00 in a report on Monday, August 5th. Finally, Royal Bank of Canada increased their price objective on Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $119.71.

Cullen/Frost Bankers Stock Down 1.1 %

Shares of Cullen/Frost Bankers stock opened at $114.24 on Monday. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.35 and a beta of 1.00. The stock’s 50-day moving average is $110.78 and its 200 day moving average is $106.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a one year low of $82.25 and a one year high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The company had revenue of $528.81 million during the quarter, compared to the consensus estimate of $506.83 million. During the same quarter last year, the firm posted $2.47 EPS. Equities research analysts anticipate 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 was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.95 per share. The ex-dividend date was Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.33%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio is currently 44.92%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction dated 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 sale, 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 accessible through this link. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers 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 transaction, the executive vice president now directly owns 18,753 shares in the company, valued at $2,243,796.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. 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.