Mutual of America Capital Management LLC Sells 1,465 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Mutual of America Capital Management LLC lowered its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,789 shares of the bank’s stock after selling 1,465 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Cullen/Frost Bankers worth $3,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its holdings in shares of Cullen/Frost Bankers by 8.9% in the 2nd quarter. Renaissance Technologies LLC now owns 97,900 shares of the bank’s stock valued at $9,950,000 after acquiring an additional 8,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Cullen/Frost Bankers by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock valued at $96,856,000 after purchasing an additional 120,333 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Cullen/Frost Bankers in the second quarter valued at approximately $2,780,000. Qsemble Capital Management LP increased its position in shares of Cullen/Frost Bankers by 55.0% during the 2nd quarter. Qsemble Capital Management LP now owns 3,141 shares of the bank’s stock worth $319,000 after purchasing an additional 1,115 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Cullen/Frost Bankers by 11.9% during the 2nd quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock worth $6,941,000 after purchasing an additional 7,236 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CFR shares. Truist Financial decreased their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday. Jefferies Financial Group lowered their price objective on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Morgan Stanley cut shares of Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $112.00 to $121.00 in a report on Monday, August 5th. Wedbush lifted their price target on Cullen/Frost Bankers from $106.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Stephens upped their price objective on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average price target of $119.71.

Insider Activity

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were 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 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 SEC, which is accessible through this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Trading Down 1.1 %

Shares of Cullen/Frost Bankers stock opened at $114.24 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a 50-day moving average of $110.78 and a 200-day moving average of $106.85. Cullen/Frost Bankers, Inc. has a 52-week low of $82.25 and a 52-week high of $123.17. The stock has a market cap of $7.34 billion, a PE ratio of 13.50, a PEG ratio of 1.35 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $506.83 million. During the same quarter in the previous year, the firm posted $2.47 EPS. As a group, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.95 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.33%. Cullen/Frost Bankers’s payout ratio is currently 44.92%.

Cullen/Frost Bankers Company 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.