SG Americas Securities LLC Boosts Holdings in Cullen/Frost Bankers, Inc. $CFR

Key Points

• SG Americas Securities LLC increased its position in Cullen/Frost Bankers by 39.2% in the first quarter, buying 17,447 additional shares and bringing its total holding to 61,900 shares valued at about $8.49 million.
• Cullen/Frost Bankers reported strong quarterly earnings, posting $2.65 per share versus the $2.49 consensus estimate, while revenue came in slightly below expectations at $574.84 million.
• The bank raised its quarterly dividend to $1.03 per share from $1.00, putting the annualized dividend at $4.12 and the yield at 2.7%.

SG Americas Securities LLC increased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 39.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,900 shares of the bank's stock after acquiring an additional 17,447 shares during the quarter. SG Americas Securities LLC owned about 0.10% of Cullen/Frost Bankers worth $8,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at about $28,000. Covestor Ltd raised its position in Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank's stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. raised its position in Cullen/Frost Bankers by 252.1% in the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank's stock valued at $33,000 after purchasing an additional 184 shares during the last quarter. Community Bank N.A. acquired a new stake in Cullen/Frost Bankers during the 3rd quarter worth $35,000. Finally, Matrix Trust Co boosted its stake in Cullen/Frost Bankers by 40.4% during the 4th 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. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Up 1.1%

Shares of Cullen/Frost Bankers stock opened at $155.18 on Friday. The company has a market cap of $9.75 billion, a P/E ratio of 15.11, a PEG ratio of 3.91 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $155.41. The firm has a fifty day moving average of $141.73 and a two-hundred day moving average of $138.38.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. The business had revenue of $574.84 million for the quarter, compared to the consensus estimate of $587.28 million. During the same quarter in the previous year, the firm earned $2.30 earnings per share. On average, analysts forecast that Cullen/Frost Bankers, Inc. will post 10.54 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $1.00. Cullen/Frost Bankers's dividend payout ratio is presently 40.12%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. The trade was a 6.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CFR shares. Citigroup lifted their price objective on shares of Cullen/Frost Bankers from $125.00 to $131.00 and gave the company a "sell" rating in a research note on Thursday, May 7th. Barclays raised their price target on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 7th. DA Davidson boosted their price target on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Cullen/Frost Bankers in a research note on Monday, June 1st. Finally, Royal Bank Of Canada increased their price objective on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $148.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.