Rockefeller Capital Management L.P. Grows Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Rockefeller Capital Management L.P. grew its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 185.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,292 shares of the bank’s stock after acquiring an additional 4,736 shares during the period. Rockefeller Capital Management L.P.’s holdings in Cullen/Frost Bankers were worth $924,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CFR. Norges Bank bought a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth about $92,904,000. Two Sigma Investments LP raised its position in Cullen/Frost Bankers by 2,024.4% during the 3rd quarter. Two Sigma Investments LP now owns 373,977 shares of the bank’s stock valued at $47,409,000 after purchasing an additional 356,373 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Cullen/Frost Bankers by 16,676.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 353,470 shares of the bank’s stock worth $44,760,000 after buying an additional 351,363 shares during the period. Millennium Management LLC purchased a new stake in Cullen/Frost Bankers in the 3rd quarter worth approximately $29,687,000. Finally, UBS Group AG grew its position in shares of Cullen/Frost Bankers by 197.5% in the 3rd quarter. UBS Group AG now owns 349,601 shares of the bank’s stock worth $44,319,000 after buying an additional 232,077 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Raymond James Financial reissued a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday. Citigroup raised their price target on Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a research note on Tuesday. Morgan Stanley lifted their price target on shares of Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an “underweight” rating in a report on Monday. DA Davidson boosted their price objective on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Stephens upgraded shares of Cullen/Frost Bankers from an “equal weight” rating to an “overweight” rating and set a $164.00 price objective for the company in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $150.73.

Cullen/Frost Bankers Trading Down 0.6%

Shares of NYSE CFR opened at $154.87 on Friday. The company has a market cap of $9.73 billion, a PE ratio of 15.08, a P/E/G ratio of 3.92 and a beta of 0.54. Cullen/Frost Bankers, Inc. has a 52-week low of $119.00 and a 52-week high of $157.34. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50 day moving average price is $142.68 and its 200-day moving average price is $139.20.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $574.84 million for the quarter, compared to the consensus estimate of $587.28 million. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. During the same quarter in the prior year, the firm earned $2.30 earnings per share. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 10.54 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, May 29th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. Cullen/Frost Bankers’s payout ratio is presently 40.12%.

Insider Activity

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