Wellington Management Group LLP Trims Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Wellington Management Group LLP trimmed its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 11.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 365,601 shares of the bank’s stock after selling 47,777 shares during the period. Wellington Management Group LLP owned approximately 0.57% of Cullen/Frost Bankers worth $39,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Commerce Bank lifted its stake in shares of Cullen/Frost Bankers by 1.0% in the 4th quarter. Commerce Bank now owns 13,047 shares of the bank’s stock valued at $1,415,000 after purchasing an additional 128 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Cullen/Frost Bankers by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 25,995 shares of the bank’s stock worth $2,371,000 after buying an additional 130 shares during the period. Cardinal Capital Management increased its position in shares of Cullen/Frost Bankers by 1.3% during the fourth quarter. Cardinal Capital Management now owns 10,459 shares of the bank’s stock valued at $1,135,000 after acquiring an additional 130 shares during the last quarter. Tributary Capital Management LLC raised its stake in shares of Cullen/Frost Bankers by 2.0% in the 4th quarter. Tributary Capital Management LLC now owns 7,395 shares of the bank’s stock valued at $802,000 after acquiring an additional 147 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Cullen/Frost Bankers by 18.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 981 shares of the bank’s stock worth $106,000 after purchasing an additional 154 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $98.37 on Monday. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $120.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $6.32 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The business’s fifty day moving average price is $103.96 and its 200 day moving average price is $106.11.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. The business had revenue of $522.74 million for the quarter, compared to the consensus estimate of $510.09 million. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same quarter in the prior year, the business posted $2.70 EPS. On average, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.43 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.68 annualized dividend and a dividend yield of 3.74%. Cullen/Frost Bankers’s dividend payout ratio is presently 43.50%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CFR. DA Davidson reaffirmed a “buy” rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $118.00 target price on shares of Cullen/Frost Bankers in a research report on Tuesday, April 9th. Truist Financial reduced their price target on shares of Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Jefferies Financial Group lifted their price objective on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, Evercore ISI increased their target price on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an “underperform” rating in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $117.46.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.