Cullen/Frost Bankers (NYSE:CFR) EVP Carol Jean Severyn Sells 837 Shares

Key Points

• EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers on June 12 at an average price of $148.29, totaling about $124,119. After the sale, she still held 12,712 shares worth roughly $1.89 million.
• The stock slipped 1.5% in Monday trading to $145.83, near its 52-week high of $148.97. The company’s market cap is about $9.16 billion, and it has a relatively low beta of 0.55.
• Cullen/Frost raised its quarterly dividend to $1.03 per share from $1.00, putting the annualized payout at $4.12 and the dividend yield at 2.8%. The bank also recently beat quarterly EPS expectations, reporting $2.65 versus the $2.49 consensus estimate.

Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) EVP Carol Jean Severyn sold 837 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Cullen/Frost Bankers Stock Down 1.5%

Shares of CFR traded down $2.17 during trading hours on Monday, reaching $145.83. 418,641 shares of the stock traded hands, compared to its average volume of 549,934. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $140.28 and a 200 day simple moving average of $136.81. Cullen/Frost Bankers, Inc. has a 52 week low of $119.00 and a 52 week high of $148.97. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 3.75 and a beta of 0.55.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results 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. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. The company had revenue of $574.84 million for the quarter, compared to analyst estimates of $587.29 million. During the same period last year, the firm earned $2.30 earnings per share. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 10.46 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, May 29th. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. Cullen/Frost Bankers's payout ratio is 40.12%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CFR. Barclays lifted their price target on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 7th. Weiss Ratings upgraded Cullen/Frost Bankers from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Citigroup lifted their price target on Cullen/Frost Bankers from $125.00 to $131.00 and gave the stock a "sell" rating in a report on Thursday, May 7th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Cullen/Frost Bankers in a report on Monday, June 1st. Finally, Stephens upgraded Cullen/Frost Bankers from an "equal weight" rating to an "overweight" rating and set a $164.00 price target on the stock in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $148.73.

Institutional Trading of Cullen/Frost Bankers

Several hedge funds have recently made changes to their positions in the company. Diversified Trust Co. lifted its holdings in Cullen/Frost Bankers by 0.5% during the fourth quarter. Diversified Trust Co. now owns 13,868 shares of the bank's stock valued at $1,756,000 after purchasing an additional 74 shares during the last quarter. Matrix Trust Co boosted its position in Cullen/Frost Bankers by 40.4% during the fourth quarter. Matrix Trust Co now owns 320 shares of the bank's stock worth $41,000 after purchasing an additional 92 shares during the period. Private Advisor Group LLC boosted its position in Cullen/Frost Bankers by 2.9% during the third quarter. Private Advisor Group LLC now owns 3,283 shares of the bank's stock worth $416,000 after purchasing an additional 94 shares during the period. Cardinal Capital Management boosted its position in Cullen/Frost Bankers by 0.5% during the fourth quarter. Cardinal Capital Management now owns 18,134 shares of the bank's stock worth $2,296,000 after purchasing an additional 98 shares during the period. Finally, Evolve Private Wealth LLC boosted its position in Cullen/Frost Bankers by 6.0% during the first quarter. Evolve Private Wealth LLC now owns 1,726 shares of the bank's stock worth $237,000 after purchasing an additional 98 shares during the period. 86.90% of the stock is currently owned by institutional investors.

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.

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