Point72 Asset Management L.P. Buys Shares of 133,559 Cullen/Frost Bankers, Inc. (NYSE:CFR)

Point72 Asset Management L.P. purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 133,559 shares of the bank’s stock, valued at approximately $13,574,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Cullen/Frost Bankers by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock valued at $695,729,000 after buying an additional 19,755 shares during the last quarter. Champlain Investment Partners LLC lifted its position in Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after purchasing an additional 495,215 shares during the last quarter. Janus Henderson Group PLC boosted its stake 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 valued at $114,994,000 after purchasing an additional 161,580 shares during the period. Dimensional Fund Advisors LP grew its position 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 during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of 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 period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Up 0.7 %

Shares of NYSE CFR opened at $111.96 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 1.36 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $123.17. The business has a fifty day simple moving average of $110.73 and a 200-day simple moving average of $107.03.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.14. The business had revenue of $528.81 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $2.47 EPS. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently declared 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 of this dividend was Friday, August 30th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.39%. Cullen/Frost Bankers’s payout ratio is 44.92%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Jefferies Financial Group decreased their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Citigroup decreased their price target on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a research note on Monday. Wedbush cut their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Evercore ISI decreased their target price on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research report on Tuesday, June 25th. Finally, Truist Financial dropped their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $120.07.

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.