Cullen/Frost Bankers, Inc. (NYSE:CFR) Stake Raised by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 23.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 314,685 shares of the bank’s stock after purchasing an additional 60,546 shares during the period. ProShare Advisors LLC owned about 0.49% of Cullen/Frost Bankers worth $33,838,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its stake in shares of Cullen/Frost Bankers by 0.5% in the second quarter. Thrivent Financial for Lutherans now owns 14,966 shares of the bank’s stock worth $1,743,000 after acquiring an additional 76 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in Cullen/Frost Bankers by 26.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 366 shares of the bank’s stock valued at $49,000 after purchasing an additional 77 shares in the last quarter. TPB Wealth Advisors increased its position in Cullen/Frost Bankers by 1.0% in the 1st quarter. TPB Wealth Advisors now owns 10,500 shares of the bank’s stock worth $1,106,000 after purchasing an additional 100 shares during the last quarter. BOK Financial Private Wealth Inc. raised its stake in shares of Cullen/Frost Bankers by 6.1% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 1,734 shares of the bank’s stock worth $186,000 after purchasing an additional 100 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Cullen/Frost Bankers by 53.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 323 shares of the bank’s stock valued at $35,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 81.39% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $99.43 on Tuesday. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $148.41. The company has a market cap of $6.37 billion, a P/E ratio of 9.51, a P/E/G ratio of 1.08 and a beta of 1.06. The business’s 50 day moving average is $92.14 and its two-hundred day moving average is $100.04. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.08.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 26th. The bank reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.24. Cullen/Frost Bankers had a net margin of 26.78% and a return on equity of 22.13%. The business had revenue of $513.35 million during the quarter, compared to analysts’ expectations of $484.91 million. During the same quarter last year, the company earned $2.59 earnings per share. On average, equities analysts expect that Cullen/Frost Bankers, Inc. will post 9.61 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Wednesday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 35.18%.

Analyst Ratings Changes

A number of equities analysts recently commented on CFR shares. Truist Financial dropped their price objective on Cullen/Frost Bankers from $113.00 to $97.00 and set a “hold” rating on the stock in a report on Wednesday, September 27th. Jefferies Financial Group cut their price target on shares of Cullen/Frost Bankers from $111.00 to $98.00 in a report on Tuesday, October 10th. UBS Group raised shares of Cullen/Frost Bankers from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $97.00 to $100.00 in a research note on Friday, August 25th. Wedbush lowered their target price on shares of Cullen/Frost Bankers from $120.00 to $112.00 and set a “neutral” rating on the stock in a research report on Friday, July 28th. Finally, Royal Bank of Canada reduced their price target on Cullen/Frost Bankers from $122.00 to $108.00 in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average target price of $114.00.

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. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, 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.