Argent Trust Co Increases Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Argent Trust Co grew its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,069 shares of the bank’s stock after buying an additional 2,304 shares during the quarter. Argent Trust Co owned 0.08% of Cullen/Frost Bankers worth $5,393,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Cullen/Frost Bankers by 7.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after purchasing an additional 97 shares in the last quarter. First National Bank of Hutchinson boosted its stake in Cullen/Frost Bankers by 1.6% in the 1st quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after buying an additional 102 shares during the last quarter. CWM LLC boosted its stake in Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after buying an additional 106 shares during the last quarter. Commerce Bank boosted its stake in Cullen/Frost Bankers by 1.0% in the 4th quarter. Commerce Bank now owns 13,047 shares of the bank’s stock worth $1,415,000 after buying an additional 128 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Cullen/Frost Bankers by 6.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock worth $237,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. The disclosure for this sale can be found here. 2.89% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CFR. Maxim Group raised their price target on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Jefferies Financial Group reduced their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Stephens lifted their price objective on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Wedbush lifted their price objective on Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Evercore ISI reduced their price objective on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 25th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and an average price target of $119.93.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR opened at $110.68 on Wednesday. The company has a market cap of $7.09 billion, a P/E ratio of 13.08, a PEG ratio of 1.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a one year low of $82.25 and a one year high of $123.17. The business’s 50-day simple moving average is $110.06 and its 200 day simple moving average is $106.80.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The company had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. During the same period in the previous year, the business earned $2.47 EPS. On average, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.95 per share. The ex-dividend date was Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.43%. Cullen/Frost Bankers’s payout ratio is currently 44.92%.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, 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.