Cullen/Frost Bankers, Inc. $CFR Shares Sold by Truist Financial Corp

Key Points

• Truist Financial cut its stake in Cullen/Frost Bankers by 47.1% in the fourth quarter, selling 18,973 shares and leaving it with 21,333 shares valued at about $2.7 million.
• Cullen/Frost Bankers reported better-than-expected earnings of $2.65 per share and revenue of $1.04 billion for the quarter, both ahead of analyst estimates.
• The bank also raised its quarterly dividend to $1.03 per share, implying a 3.0% yield, while analysts currently have a consensus rating of Hold with a $145.08 price target.

Truist Financial Corp decreased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 47.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,333 shares of the bank's stock after selling 18,973 shares during the period. Truist Financial Corp's holdings in Cullen/Frost Bankers were worth $2,701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Cullen/Frost Bankers by 61.6% in the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank's stock worth $75,833,000 after acquiring an additional 230,993 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cullen/Frost Bankers by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank's stock worth $20,896,000 after acquiring an additional 15,063 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank's stock worth $46,000 after acquiring an additional 106 shares in the last quarter. Invesco Ltd. increased its position in shares of Cullen/Frost Bankers by 12.2% in the second quarter. Invesco Ltd. now owns 126,040 shares of the bank's stock worth $16,201,000 after acquiring an additional 13,718 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Cullen/Frost Bankers by 82.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank's stock worth $151,000 after acquiring an additional 532 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Price Performance

Shares of CFR stock opened at $136.13 on Wednesday. The company has a market capitalization of $8.55 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 3.46 and a beta of 0.58. The firm has a fifty day simple moving average of $138.47 and a 200-day simple moving average of $134.28. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a twelve month low of $119.00 and a twelve month high of $148.97.

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, beating the consensus estimate of $2.49 by $0.16. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $587.29 million. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. During the same period in the prior year, the firm earned $2.30 earnings per share. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.41 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $1.00. The ex-dividend date is Friday, May 29th. Cullen/Frost Bankers's payout ratio is currently 38.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CFR. Morgan Stanley dropped their price objective on shares of Cullen/Frost Bankers from $143.00 to $133.00 and set an "underweight" rating for the company in a research report on Tuesday, March 31st. TD Cowen raised shares of Cullen/Frost Bankers to a "strong-buy" rating in a research report on Monday, April 13th. Cantor Fitzgerald increased their price objective on shares of Cullen/Frost Bankers from $141.00 to $152.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 3rd. DA Davidson increased their price objective on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Finally, Weiss Ratings raised shares of Cullen/Frost Bankers from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $145.08.

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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