Wellington Management Group LLP Has $51.77 Million Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Wellington Management Group LLP trimmed its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 33.0% in the second quarter, Holdings Channel.com reports. The firm owned 335,048 shares of the bank’s stock after selling 165,042 shares during the quarter. Wellington Management Group LLP’s holdings in Cullen/Frost Bankers were worth $51,772,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Equitable Holdings Inc. acquired a new position in shares of Cullen/Frost Bankers in the second quarter valued at approximately $848,000. Corient Private Wealth LP acquired a new stake in shares of Cullen/Frost Bankers during the second quarter worth $2,985,000. Man Group plc bought a new stake in Cullen/Frost Bankers in the 2nd quarter valued at $313,000. Polar Asset Management Partners Inc. acquired a new position in Cullen/Frost Bankers in the 2nd quarter worth $1,107,000. Finally, Jupiter Topco LLC acquired a new position in Cullen/Frost Bankers in the 2nd quarter worth $94,297,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Trading Up 0.7%

Cullen/Frost Bankers stock opened at $162.80 on Friday. The firm has a 50-day moving average of $162.16 and a 200-day moving average of $147.80. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $170.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $10.12 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 2.48 and a beta of 0.52.

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

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $1.03 per share. 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 payout ratio is 38.94%.

Insider Activity

In other news, EVP Carol Severyn sold 837 shares of the company’s 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Cantor Fitzgerald increased their target price on Cullen/Frost Bankers from $158.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Zacks Research raised Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. TD Cowen increased their price objective on Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods lifted their target price on Cullen/Frost Bankers from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.