Sei Investments Co. Has $71.02 Million Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Sei Investments Co. increased its stake in Cullen/Frost Bankers by 2.7% in the first quarter, bringing its holdings to 518,106 shares worth about $71.0 million.
• Cullen/Frost Bankers reported strong quarterly earnings of $2.65 per share, topping analyst estimates, while analysts currently maintain a Hold consensus with a $152.42 price target.
• The bank raised its dividend to $1.03 per share quarterly, equal to an annualized yield of 2.5%, even as an executive recently sold a small portion of shares.

Sei Investments Co. boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 518,106 shares of the bank's stock after acquiring an additional 13,460 shares during the quarter. Sei Investments Co. owned 0.83% of Cullen/Frost Bankers worth $71,022,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in shares of Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank's stock valued at $75,833,000 after purchasing an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cullen/Frost Bankers by 9.9% during the 1st 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 buying an additional 15,063 shares during the period. Geneos Wealth Management Inc. boosted its stake in Cullen/Frost Bankers by 40.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank's stock valued at $46,000 after buying an additional 106 shares in the last quarter. Invesco Ltd. boosted its stake in Cullen/Frost Bankers by 12.2% in the 2nd quarter. Invesco Ltd. now owns 126,040 shares of the bank's stock valued at $16,201,000 after buying an additional 13,718 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Cullen/Frost Bankers by 82.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank's stock valued at $151,000 after buying an additional 532 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $164.23 on Friday. The stock has a 50-day simple moving average of $148.81 and a 200 day simple moving average of $142.56. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 2.88 and a beta of 0.54. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 12-month low of $119.00 and a 12-month high of $165.16.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, beating the consensus estimate of $2.49 by $0.16. The business had revenue of $574.84 million for the quarter, compared to analysts' expectations of $587.28 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. On average, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.57 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, May 29th. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $1.00. Cullen/Frost Bankers's dividend payout ratio is 40.12%.

Insider Buying and Selling

In related news, EVP Carol Jean Severyn sold 837 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the transaction, the executive vice president owned 12,712 shares in the company, valued at $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.14% of the company's stock.

Wall Street Analyst Weigh In

CFR has been the subject of several recent analyst reports. Raymond James Financial reiterated a "market perform" rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. TD Cowen upgraded shares of Cullen/Frost Bankers to a "strong-buy" rating in a research note on Monday, April 13th. Citigroup upped their target price on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a "sell" rating in a report on Tuesday, June 30th. DA Davidson increased their target price 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 reiterated a "buy (b)" rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $152.42.

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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