EFG International AG Invests $5.91 Million in Cullen/Frost Bankers, Inc. $CFR

Key Points

• EFG International AG acquired 38,197 Cullen/Frost Bankers shares worth approximately $5.91 million, while institutional investors collectively own 86.90% of the bank.
• Cullen/Frost reported quarterly EPS of $2.70, beating the $2.55 consensus estimate, although revenue of $576.01 million fell short of expectations.
• The bank declared a quarterly dividend of $1.03 per share, equivalent to $4.12 annually and a 2.5% yield; analysts maintain a consensus “Hold” rating with an average price target of $161.75.

EFG International AG bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 38,197 shares of the bank's stock, valued at approximately $5,906,000. EFG International AG owned approximately 0.06% of Cullen/Frost Bankers as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Cullen/Frost Bankers during the second quarter worth about $1,133,453,000. Dimensional Fund Advisors LP boosted its holdings in shares of Cullen/Frost Bankers by 18.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank's stock worth $209,833,000 after acquiring an additional 236,808 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cullen/Frost Bankers by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank's stock worth $155,059,000 after acquiring an additional 10,246 shares in the last quarter. Bank of America Corp DE grew its position in Cullen/Frost Bankers by 11.8% during the 1st quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank's stock worth $165,966,000 after acquiring an additional 127,483 shares during the last quarter. Finally, Northern Trust Corp grew its position in Cullen/Frost Bankers by 2.3% during the 3rd quarter. Northern Trust Corp now owns 965,821 shares of the bank's stock worth $122,437,000 after acquiring an additional 21,793 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.14% of the company's stock.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $163.43 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 1 year low of $119.00 and a 1 year high of $170.80. The company has a market cap of $10.16 billion, a PE ratio of 15.45, a PEG ratio of 2.52 and a beta of 0.53. The company's 50-day moving average is $160.36 and its two-hundred day moving average is $147.01.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, topping 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 company had revenue of $576.01 million during the quarter, compared to analysts' expectations of $589.72 million. During the same quarter in the previous year, the company earned $2.39 EPS. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.9 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

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

Analyst Ratings Changes

CFR has been the subject of several research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 15th. Royal Bank Of Canada increased their target price on Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a "sector perform" rating in a report on Friday, July 31st. Citigroup raised their target price on Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a "sell" rating in a research note on Tuesday, June 30th. Cantor Fitzgerald lifted their price target on Cullen/Frost Bankers from $158.00 to $175.00 and gave the company a "neutral" rating in a report on Wednesday, August 19th. Finally, Stephens upped their price target on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $161.75.

About Cullen/Frost Bankers

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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