Natixis Advisors LLC Grows Stock Position in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Natixis Advisors LLC raised its stake in Cullen/Frost Bankers by 11.3% in the third quarter, adding 36,952 shares to hold 365,370 shares worth about $46.3 million (roughly 0.57% of the company).
• Cullen/Frost beat quarterly expectations with $2.56 EPS and $1.05 billion in revenue, announced a $1.00 quarterly dividend (annualized $4.00, ~3.0% yield), and institutional investors own about 86.9% of the stock.
• Analysts are mixed: the consensus rating is an average "Hold" with an average target price of $142.67 (4 Buys, 6 Holds, 3 Sells), and several firms have recently lifted price targets into the $144–$160 range.

Natixis Advisors LLC raised its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 11.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,370 shares of the bank's stock after buying an additional 36,952 shares during the quarter. Natixis Advisors LLC owned approximately 0.57% of Cullen/Frost Bankers worth $46,318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth about $90,484,000. Impax Asset Management Group plc grew its holdings in Cullen/Frost Bankers by 58.7% in the second quarter. Impax Asset Management Group plc now owns 822,878 shares of the bank's stock valued at $104,861,000 after purchasing an additional 304,491 shares during the period. Fiera Capital Corp acquired a new position in Cullen/Frost Bankers during the third quarter worth approximately $29,769,000. Goldman Sachs Group Inc. increased its position in Cullen/Frost Bankers by 61.6% during the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank's stock worth $75,833,000 after purchasing an additional 230,993 shares during the last quarter. Finally, First National Bank of Omaha purchased a new position in Cullen/Frost Bankers during the third quarter worth approximately $12,956,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Cullen/Frost Bankers from $136.00 to $143.00 and gave the company an "underweight" rating in a report on Monday, March 2nd. Keefe, Bruyette & Woods increased their target price on Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. Cantor Fitzgerald lifted their target price on Cullen/Frost Bankers from $141.00 to $152.00 and gave the company a "neutral" rating in a report on Tuesday, March 3rd. Barclays boosted their price target on Cullen/Frost Bankers from $140.00 to $150.00 and gave the company an "equal weight" rating in a research report on Friday, January 30th. Finally, DA Davidson upped their price target on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a "neutral" rating in a research note on Friday, January 30th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $142.67.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $134.49 on Tuesday. The firm has a fifty day moving average of $139.10 and a 200-day moving average of $130.80. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $148.97. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $8.50 billion, a P/E ratio of 13.56, a PEG ratio of 4.97 and a beta of 0.63.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share 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 business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $578.05 million. During the same quarter in the previous year, the business posted $2.36 EPS. As a group, analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, February 27th. Cullen/Frost Bankers's payout ratio is currently 40.32%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,000 shares of the company's stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $137.07, for a total value of $137,070.00. Following the completion of the sale, the executive vice president owned 28,406 shares of the company's stock, valued at $3,893,610.42. This represents 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 at this hyperlink. 1.20% of the stock is owned by insiders.

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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