The Manufacturers Life Insurance Company Takes Position in Cullen/Frost Bankers, Inc. $CFR

The Manufacturers Life Insurance Company bought a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 518,552 shares of the bank’s stock, valued at approximately $80,127,000.

A number of other institutional investors have also added to or reduced their stakes in CFR. Advisory Services Network LLC acquired a new stake in Cullen/Frost Bankers in the third quarter valued at $28,000. Covestor Ltd grew its position in shares of Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock valued at $31,000 after acquiring an additional 100 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth about $37,000. Global Retirement Partners LLC bought a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at about $38,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Cullen/Frost Bankers in the 1st quarter valued at about $41,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $163.43 on Wednesday. Cullen/Frost Bankers, Inc. has a 52 week low of $119.00 and a 52 week high of $170.80. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 2.52 and a beta of 0.53. The company has a 50-day simple moving average of $160.36 and a 200 day simple moving average of $147.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.63 and a current ratio of 0.63.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.15. The firm had revenue of $576.01 million for the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same period in the prior year, the firm earned $2.39 EPS. On average, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 10.9 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $1.03 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. Cullen/Frost Bankers’s dividend payout ratio is presently 38.94%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Carol Jean Severyn sold 837 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CFR shares. Morgan Stanley lifted their price target on Cullen/Frost Bankers from $133.00 to $141.00 and gave the stock an “underweight” rating in a report on Monday, June 29th. Raymond James Financial reaffirmed a “market perform” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Zacks Research upgraded Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Citigroup boosted their target price on Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Finally, TD Cowen increased their price target on Cullen/Frost Bankers from $169.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus target price of $161.75.

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.