Amundi Sells 27,558 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Amundi cut its Cullen/Frost Bankers stake by 90.3% in the first quarter, selling 27,558 shares and retaining 2,956 shares valued at approximately $405,000.
• Cullen/Frost reported quarterly earnings of $2.70 per share, beating estimates of $2.55, while revenue of $608.65 million also exceeded expectations. The bank declared a quarterly dividend of $1.03, equivalent to a 2.5% annual yield.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $160.33. Shares opened at $165.94, near their 52-week high of $170.29.

Amundi lowered its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 90.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,956 shares of the bank's stock after selling 27,558 shares during the period. Amundi's holdings in Cullen/Frost Bankers were worth $405,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CFR. Advisory Services Network LLC bought a new position in Cullen/Frost Bankers during the third quarter valued at about $28,000. Covestor Ltd lifted 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 worth $31,000 after acquiring an additional 100 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $41,000. Geneos Wealth Management Inc. grew its holdings in shares of Cullen/Frost Bankers by 40.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank's stock worth $46,000 after purchasing an additional 106 shares in the last quarter. Finally, GHP Investment Advisors Inc. bought a new stake in shares of Cullen/Frost Bankers during the first quarter valued at approximately $53,000. Institutional investors own 86.90% of the company's stock.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Carol Jean Severyn sold 837 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on CFR. TD Cowen raised their target price on Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Raymond James Financial restated a "market perform" rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. DA Davidson raised their price objective on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Citigroup lifted their target price on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a "sell" rating in a research report on Tuesday, June 30th. Finally, Barclays upped their target price on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $160.33.

Cullen/Frost Bankers Stock Up 0.2%

Shares of NYSE:CFR opened at $165.94 on Wednesday. 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 stock has a market cap of $10.31 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 2.56 and a beta of 0.53. The company has a 50 day moving average of $155.64 and a 200-day moving average of $145.05. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $170.29.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data 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. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. The business had revenue of $608.65 million for the quarter, compared to analyst estimates of $589.72 million. During the same period in the prior year, the business posted $2.39 earnings per share. On average, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 10.8 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

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

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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