Cullen/Frost Bankers, Inc. $CFR Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 23.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,574 shares of the bank’s stock after selling 6,423 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cullen/Frost Bankers were worth $2,608,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $90,484,000. Impax Asset Management Group plc boosted its stake in shares of Cullen/Frost Bankers by 58.7% during the 2nd quarter. Impax Asset Management Group plc now owns 822,878 shares of the bank’s stock worth $104,861,000 after acquiring an additional 304,491 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock worth $75,833,000 after purchasing an additional 230,993 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Cullen/Frost Bankers by 3,892.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 100,368 shares of the bank’s stock worth $12,901,000 after acquiring an additional 97,854 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Cullen/Frost Bankers by 14.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 742,981 shares of the bank’s stock worth $95,503,000 after purchasing an additional 94,985 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CFR. TD Cowen reiterated a “positive” rating on shares of Cullen/Frost Bankers in a research note on Monday, February 2nd. Loop Capital set a $160.00 price objective on Cullen/Frost Bankers in a report on Monday, February 2nd. Royal Bank Of Canada upped their price target on shares of Cullen/Frost Bankers from $144.00 to $150.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Barclays boosted their target price on shares of Cullen/Frost Bankers from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, Citigroup boosted their price target on Cullen/Frost Bankers from $114.00 to $125.00 and gave the company a “sell” rating in a research note on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $140.92.

Insiders Place Their Bets

In related news, EVP Bobby Berman sold 1,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $137.07, for a total transaction of $137,070.00. Following the completion of the sale, the executive vice president directly owned 28,406 shares of the company’s stock, valued at approximately $3,893,610.42. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total transaction of $88,900.00. Following the completion of the sale, the executive vice president directly owned 3,795 shares of the company’s stock, valued at $481,965. This represents a 15.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,700 shares of company stock valued at $225,970. Corporate insiders own 1.20% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of CFR stock opened at $147.13 on Tuesday. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $148.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $9.30 billion, a PE ratio of 14.83, a PEG ratio of 5.40 and a beta of 0.64. The firm’s 50 day moving average price is $133.51 and its two-hundred day moving average price is $128.65.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, January 29th. The bank reported $2.56 EPS for the quarter, beating the consensus estimate of $2.47 by $0.09. The firm had revenue of $562.58 million during the quarter, compared to the consensus estimate of $578.05 million. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. During the same quarter in the prior year, the firm earned $2.36 earnings per share. As a group, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, February 27th. Cullen/Frost Bankers’s dividend payout ratio is presently 40.32%.

Cullen/Frost Bankers Company Profile

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.