Polaris Capital Management LLC Has $27.16 Million Stock Position in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Polaris Capital Management LLC cut its stake in Cullen/Frost Bankers by 13.5% in Q4 to 214,500 shares valued at about $27.16 million, representing 2.3% of Polaris's portfolio and roughly 0.34% of CFR outstanding.
• Analysts are mixed on CFR with an average rating of Hold and a consensus price target of $142.25, while individual firms' ratings range from Strong Buy to Sell.
• Cullen/Frost recently beat Q4 EPS estimates and reported strong margins and ROE, and it pays a quarterly dividend of $1.00 (annualized $4.00) for a ~2.8% yield.

Polaris Capital Management LLC decreased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214,500 shares of the bank's stock after selling 33,400 shares during the period. Cullen/Frost Bankers makes up 2.3% of Polaris Capital Management LLC's portfolio, making the stock its 21st largest holding. Polaris Capital Management LLC owned approximately 0.34% of Cullen/Frost Bankers worth $27,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CFR. Diversified Trust Co. lifted its position in Cullen/Frost Bankers by 0.5% in the fourth quarter. Diversified Trust Co. now owns 13,868 shares of the bank's stock worth $1,756,000 after purchasing an additional 74 shares during the period. Matrix Trust Co lifted its position in Cullen/Frost Bankers by 40.4% in the fourth quarter. Matrix Trust Co now owns 320 shares of the bank's stock worth $41,000 after purchasing an additional 92 shares during the period. Private Advisor Group LLC lifted its position in Cullen/Frost Bankers by 2.9% in the third quarter. Private Advisor Group LLC now owns 3,283 shares of the bank's stock worth $416,000 after purchasing an additional 94 shares during the period. Geneos Wealth Management Inc. lifted its position in 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 purchasing an additional 106 shares during the period. Finally, US Bancorp DE lifted its position in Cullen/Frost Bankers by 2.8% in the third quarter. US Bancorp DE now owns 3,990 shares of the bank's stock worth $506,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CFR shares. Barclays raised their target price on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 7th. Royal Bank Of Canada lifted their price objective on Cullen/Frost Bankers from $144.00 to $150.00 and gave the company a "sector perform" rating in a report on Friday, January 30th. Keefe, Bruyette & Woods lifted their price objective on Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Citigroup lifted their price objective on Cullen/Frost Bankers from $114.00 to $125.00 and gave the company a "sell" rating in a report on Monday, February 2nd. Finally, TD Cowen raised Cullen/Frost Bankers to a "strong-buy" rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $142.25.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,000 shares of the business's stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $137.07, for a total transaction of $137,070.00. Following the completion of the sale, the executive vice president directly owned 28,406 shares of the company's stock, valued at approximately $3,893,610.42. The trade was a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.14% of the company's stock.

Cullen/Frost Bankers Stock Down 2.4%

Shares of NYSE:CFR opened at $141.46 on Friday. 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 cap of $8.91 billion, a P/E ratio of 14.26, a P/E/G ratio of 4.01 and a beta of 0.61. Cullen/Frost Bankers, Inc. has a 12 month low of $114.29 and a 12 month high of $148.97. The company's 50-day moving average price is $139.01 and its two-hundred day moving average price is $133.09.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.09. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $578.05 million. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. During the same period in the previous year, the firm posted $2.36 earnings per share. As a group, research analysts forecast that Cullen/Frost Bankers, Inc. will post 10.21 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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

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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