Bokf Na Acquires 40,690 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Bokf Na significantly increased its Cullen/Frost Bankers position, acquiring 40,690 additional shares during the third quarter for a total holding of 41,230 shares valued at approximately $6.3 million.
• Institutional investors own 86.9% of Cullen/Frost Bankers, with several major funds—including First Eagle Investment Management and State Street—also increasing their stakes.
• Cullen/Frost reported third-quarter EPS of $2.84, beating estimates, while revenue fell short of expectations. Analysts maintain an average “Hold” rating with a consensus price target of $169.36, and the company maintained its $1.03 quarterly dividend.

Bokf Na increased its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 7,535.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,230 shares of the bank's stock after purchasing an additional 40,690 shares during the quarter. Bokf Na's holdings in Cullen/Frost Bankers were worth $6,295,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. EFG International AG acquired a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth approximately $5,906,000. Squarepoint Ops LLC raised its holdings in shares of Cullen/Frost Bankers by 327.0% in the 2nd quarter. Squarepoint Ops LLC now owns 34,023 shares of the bank's stock worth $5,257,000 after purchasing an additional 26,055 shares during the period. First Eagle Investment Management LLC lifted its holdings in Cullen/Frost Bankers by 22.6% during the second quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank's stock valued at $429,204,000 after purchasing an additional 511,784 shares during the last quarter. State Street Corp boosted its holdings in shares of Cullen/Frost Bankers by 3.8% in the second quarter. State Street Corp now owns 3,218,249 shares of the bank's stock worth $497,292,000 after acquiring an additional 118,313 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Cullen/Frost Bankers during the 2nd quarter worth approximately $7,345,000. 86.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CFR. Stephens upped their target price on Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Zacks Research cut Cullen/Frost Bankers from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 3rd. Barclays boosted their price target on Cullen/Frost Bankers from $160.00 to $175.00 and gave the company an "equal weight" rating in a report on Monday, October 5th. Morgan Stanley increased their price objective on Cullen/Frost Bankers from $200.00 to $201.00 and gave the stock an "overweight" rating in a report on Monday, September 28th. Finally, Royal Bank Of Canada dropped their price target on Cullen/Frost Bankers from $176.00 to $175.00 and set a "sector perform" rating for the company in a research note on Friday, October 9th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $169.36.

Cullen/Frost Bankers News Summary

Here are the key news stories impacting Cullen/Frost Bankers this week:

• Positive Sentiment: Third-quarter earnings beat expectations. Cullen/Frost reported $2.84 in diluted EPS, up from $2.67 a year earlier and above the $2.80 consensus estimate. Net income available to common shareholders increased to $178.5 million from $172.7 million. Cullen/Frost Reports Third Quarter Results
• Positive Sentiment: Loan growth and fee income remained solid. Average loans rose 9.0% year over year to $23.4 billion, while non-interest income increased 8.2% to $136.0 million. Deposits also grew 3.6% to $43.6 billion, supporting the bank’s expansion. Cullen Frost Reports Third Quarter Net Income
• Positive Sentiment: The quarterly dividend was maintained. The board declared a $1.03-per-share common dividend, or $4.12 annualized, representing an indicated yield of approximately 2.6%. The payment is scheduled for December 15 for shareholders of record November 30. Cullen/Frost Dividend Announcement
• Neutral Sentiment: Cullen/Frost will move its primary listings from the NYSE to the Texas Stock Exchange. The CFR and CFR.PrB ticker symbols will remain unchanged. The move may strengthen the bank’s Texas-focused identity and support the emerging exchange, but it does not immediately alter the company’s fundamentals. Cullen/Frost TXSE Listing Announcement
• Negative Sentiment: Revenue fell short of expectations. Reported revenue was $603.83 million versus the $610.19 million analyst consensus, tempering the earnings beat. Non-interest expense also rose 7.0% year over year to $377.2 million.
• Neutral Sentiment: Credit costs remain a monitoring point. Third-quarter credit loss expense was $12.1 million and net charge-offs totaled $8.4 million, though the available reports did not indicate a major deterioration in credit quality. Cullen/Frost Net Charge-Off Report

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $157.76 on Friday. Cullen/Frost Bankers, Inc. has a twelve month low of $119.14 and a twelve month high of $170.80. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $9.80 billion, a P/E ratio of 14.91, a PEG ratio of 1.83 and a beta of 0.56. The stock's 50 day moving average is $157.94 and its 200 day moving average is $148.72.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The bank reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%. The business had revenue of $603.83 million during the quarter, compared to analysts' expectations of $610.19 million. During the same quarter in the previous year, the business earned $2.67 earnings per share. On average, equities research analysts predict that Cullen/Frost Bankers, Inc. will post 10.94 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, November 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. Cullen/Frost Bankers's dividend payout ratio is presently 38.94%.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.

Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.

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