King Luther Capital Management Corp Has $162.84 Million Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

King Luther Capital Management Corp reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 13.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,602,265 shares of the bank’s stock after selling 255,092 shares during the quarter. King Luther Capital Management Corp owned about 2.50% of Cullen/Frost Bankers worth $162,838,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CFR. Vanguard Group Inc. lifted its position in shares of Cullen/Frost Bankers by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock worth $695,729,000 after purchasing an additional 19,755 shares during the period. Champlain Investment Partners LLC lifted its holdings in Cullen/Frost Bankers by 18.4% in the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after buying an additional 495,215 shares during the period. Janus Henderson Group PLC boosted its position in Cullen/Frost Bankers by 18.8% during the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after acquiring an additional 161,580 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cullen/Frost Bankers by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after acquiring an additional 120,333 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Cullen/Frost Bankers by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock worth $92,432,000 after acquiring an additional 12,897 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Trading Up 3.4 %

Shares of Cullen/Frost Bankers stock opened at $115.58 on Friday. The company has a market capitalization of $7.40 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00. The stock has a fifty day simple moving average of $110.57 and a 200 day simple moving average of $106.90. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $123.17. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The firm had revenue of $528.81 million during the quarter, compared to analyst estimates of $506.83 million. During the same quarter in the prior year, the business posted $2.47 EPS. On average, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.95 per share. The ex-dividend date was Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.29%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 44.92%.

Analyst Upgrades and Downgrades

CFR has been the subject of several recent analyst reports. Stephens raised their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Morgan Stanley lowered shares of Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $112.00 to $121.00 in a research note on Monday, August 5th. Jefferies Financial Group reduced their price target on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Wedbush upped their price objective on shares of Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Truist Financial raised their target price on Cullen/Frost Bankers from $102.00 to $126.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and an average price target of $119.93.

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.