Boston Trust Walden Corp Sells 75,905 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Boston Trust Walden Corp reduced its stake in Cullen/Frost Bankers by 7.3% in the first quarter, selling 75,905 shares and leaving it with 967,849 shares worth about $132.7 million.
• Analysts are mixed on the stock: the consensus rating is Hold with a consensus price target of $150.73, though recent targets ranged from $145 to $164.
• Cullen/Frost Bankers reported better-than-expected quarterly earnings of $2.65 per share, and it recently increased its dividend to $1.03 per quarter, implying an annual yield of 2.7%.

Boston Trust Walden Corp cut its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 967,849 shares of the bank's stock after selling 75,905 shares during the period. Cullen/Frost Bankers accounts for about 1.1% of Boston Trust Walden Corp's portfolio, making the stock its 12th biggest position. Boston Trust Walden Corp owned about 1.54% of Cullen/Frost Bankers worth $132,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth about $28,000. Covestor Ltd grew its holdings in Cullen/Frost Bankers by 67.6% during the 4th quarter. Covestor Ltd now owns 248 shares of the bank's stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. raised its position in Cullen/Frost Bankers by 252.1% in the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank's stock worth $33,000 after purchasing an additional 184 shares during the period. Community Bank N.A. purchased a new position in shares of Cullen/Frost Bankers during the third quarter valued at approximately $35,000. Finally, Matrix Trust Co boosted its position in shares of Cullen/Frost Bankers by 40.4% during the fourth quarter. Matrix Trust Co now owns 320 shares of the bank's stock valued at $41,000 after buying an additional 92 shares during the period. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup raised their price target on Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a "sell" rating in a research note on Tuesday. Cantor Fitzgerald reiterated a "neutral" rating on shares of Cullen/Frost Bankers in a research report on Monday, June 1st. Morgan Stanley boosted their target price on shares of Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an "underweight" rating in a research note on Monday. Royal Bank Of Canada upped their price target on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Finally, Stephens raised shares of Cullen/Frost Bankers from an "equal weight" rating to an "overweight" rating and set a $164.00 price target on the stock in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of "Hold" and a consensus target price of $150.73.

Cullen/Frost Bankers Price Performance

NYSE CFR opened at $154.87 on Friday. Cullen/Frost Bankers, Inc. has a 12-month low of $119.00 and a 12-month high of $157.34. The firm's fifty day simple moving average is $142.68 and its two-hundred day simple moving average is $139.20. 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 firm has a market capitalization of $9.73 billion, a P/E ratio of 15.08, a P/E/G ratio of 3.92 and a beta of 0.54.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The firm had revenue of $574.84 million for the quarter, compared to the consensus estimate of $587.28 million. During the same period in the previous year, the business earned $2.30 EPS. Analysts forecast that Cullen/Frost Bankers, Inc. will post 10.54 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $1.03 dividend. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $1.00. The ex-dividend date was Friday, May 29th. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 40.12%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the business'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 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. The trade was a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.14% of the company's stock.

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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