Concurrent Investment Advisors LLC Raises Position in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Concurrent Investment Advisors LLC boosted its stake in Cullen/Frost Bankers by 863.1% in Q4, buying an additional 19,221 shares to hold 21,448 shares worth about $2.72 million.
• Cullen/Frost beat expectations in the latest quarter with $2.56 EPS (vs. $2.47 est.) and revenue of $1.05 billion (vs. $578.05 million est.), and it pays a $1.00 quarterly dividend ($4.00 annual, ~2.8% yield).
• The stock's consensus rating is an average "Hold" with a mean price target of $142.25, though several analysts recently raised their targets (e.g., Barclays $155, Cantor Fitzgerald $152, Loop Capital $160).

Concurrent Investment Advisors LLC increased its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 863.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,448 shares of the bank's stock after purchasing an additional 19,221 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Cullen/Frost Bankers were worth $2,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CFR. HB Wealth Management LLC increased its position in shares of Cullen/Frost Bankers by 10.8% in the fourth quarter. HB Wealth Management LLC now owns 2,393 shares of the bank's stock valued at $303,000 after acquiring an additional 233 shares during the period. M&T Bank Corp increased its position in shares of Cullen/Frost Bankers by 13.5% in the fourth quarter. M&T Bank Corp now owns 109,154 shares of the bank's stock valued at $13,822,000 after acquiring an additional 12,990 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Cullen/Frost Bankers by 3.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 41,514 shares of the bank's stock valued at $5,257,000 after acquiring an additional 1,268 shares during the period. TD Waterhouse Canada Inc. purchased a new position in shares of Cullen/Frost Bankers in the fourth quarter valued at about $58,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cullen/Frost Bankers by 3.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,823 shares of the bank's stock valued at $1,624,000 after acquiring an additional 393 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CFR shares. Barclays boosted their price objective on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 7th. DA Davidson boosted their price objective on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. Weiss Ratings upgraded shares of Cullen/Frost Bankers from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. Loop Capital set a $160.00 price objective on shares of Cullen/Frost Bankers in a research report on Monday, February 2nd. Finally, Cantor Fitzgerald boosted their price objective on shares of Cullen/Frost Bankers from $141.00 to $152.00 and gave the company a "neutral" rating in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $142.25.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $143.53 on Wednesday. Cullen/Frost Bankers, Inc. has a 1 year low of $114.29 and a 1 year high of $148.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.67 and a quick ratio of 0.67. The company's 50-day moving average is $138.99 and its 200 day moving average is $133.43. The stock has a market capitalization of $9.04 billion, a P/E ratio of 14.47, a P/E/G ratio of 3.97 and a beta of 0.61.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.09. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $578.05 million. During the same quarter in the previous year, the company earned $2.36 earnings per share. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 10.21 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $1.00 per share. The ex-dividend date was Friday, February 27th. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. Cullen/Frost Bankers's payout ratio is currently 40.32%.

Insider Activity

In related news, EVP Bobby Berman sold 1,000 shares of the business's stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $137.07, for a total transaction of $137,070.00. Following the transaction, the executive vice president owned 28,406 shares in the company, valued at $3,893,610.42. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.14% of the stock is owned by corporate insiders.

Cullen/Frost Bankers 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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