First Eagle Investment Management LLC Raises Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Key Points

• First Eagle Investment Management increased its Cullen/Frost Bankers stake by 22.6% in the second quarter, adding 511,784 shares to own 2.78 million shares valued at approximately $429.2 million. Institutional investors collectively hold 86.9% of the bank’s stock.
• Cullen/Frost reported quarterly earnings of $2.70 per share, beating analysts’ $2.55 estimate, though revenue of $576.0 million fell short of the $589.7 million consensus forecast.
• 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.

First Eagle Investment Management LLC boosted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 22.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,777,658 shares of the bank's stock after buying an additional 511,784 shares during the quarter. First Eagle Investment Management LLC owned approximately 4.47% of Cullen/Frost Bankers worth $429,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC raised its position in Cullen/Frost Bankers by 3.7% during the 4th quarter. ProShare Advisors LLC now owns 268,194 shares of the bank's stock valued at $33,961,000 after purchasing an additional 9,612 shares during the last quarter. Verition Fund Management LLC increased its stake in shares of Cullen/Frost Bankers by 52.8% during the fourth quarter. Verition Fund Management LLC now owns 130,944 shares of the bank's stock valued at $16,581,000 after buying an additional 45,254 shares during the period. EFG International AG bought a new position in shares of Cullen/Frost Bankers during the second quarter valued at approximately $5,906,000. Whittier Trust Co. raised its holdings in shares of Cullen/Frost Bankers by 10.6% during the first quarter. Whittier Trust Co. now owns 73,835 shares of the bank's stock valued at $10,332,000 after acquiring an additional 7,061 shares in the last quarter. Finally, DB&C Advisors LLC purchased a new stake in Cullen/Frost Bankers in the fourth quarter worth $1,678,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Carol Severyn sold 837 shares of the firm'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 completion of the transaction, the executive vice president owned 12,712 shares of the company's stock, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.14% of the company's stock.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $162.89 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $10.12 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.49 and a beta of 0.52. The business has a fifty day simple moving average of $162.31 and a two-hundred day simple moving average of $147.94. Cullen/Frost Bankers, Inc. has a 12 month low of $119.00 and a 12 month high of $170.80.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.15. The firm had revenue of $576.01 million for the quarter, compared to the consensus estimate of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same period in the prior year, the firm earned $2.39 EPS. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 10.91 earnings per share for the current fiscal 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 issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, August 31st. Cullen/Frost Bankers's dividend payout ratio is 38.94%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CFR. Barclays lifted their price target on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an "equal weight" rating in a report on Tuesday, July 7th. Jefferies Financial Group raised shares of Cullen/Frost Bankers from an "underperform" rating to a "hold" rating and raised their target price for the stock from $135.00 to $160.00 in a research report on Monday, July 6th. Cantor Fitzgerald boosted their price target on shares of Cullen/Frost Bankers from $158.00 to $175.00 and gave the company a "neutral" rating in a research report on Wednesday, August 19th. Zacks Research downgraded shares of Cullen/Frost Bankers from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Finally, TD Cowen raised their price objective on shares of Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $161.75.

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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