American Century Companies Inc. Buys 7,236 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

American Century Companies Inc. increased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 11.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,296 shares of the bank’s stock after buying an additional 7,236 shares during the quarter. American Century Companies Inc. owned 0.11% of Cullen/Frost Bankers worth $6,941,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Cullen/Frost Bankers by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock worth $695,729,000 after buying an additional 19,755 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in Cullen/Frost Bankers by 18.4% during the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after buying an additional 495,215 shares in the last quarter. Janus Henderson Group PLC boosted its position in Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after purchasing an additional 161,580 shares during the last quarter. Principal Financial Group Inc. boosted its position in Cullen/Frost Bankers by 1.6% in the first quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock worth $92,432,000 after purchasing an additional 12,897 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after purchasing an additional 244,197 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $112.54 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a 52-week low of $82.25 and a 52-week high of $123.17. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.35 and a beta of 1.00. The business’s fifty day moving average is $110.88 and its 200 day moving average is $106.87.

Cullen/Frost Bankers (NYSE:CFR) last released 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 return on equity of 17.43% and a net margin of 19.51%. The company had revenue of $528.81 million for the quarter, compared to analyst estimates of $506.83 million. During the same period in the previous year, the company posted $2.47 EPS. Research analysts predict that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.95 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio is currently 44.92%.

Analyst Ratings Changes

Several research firms have weighed in on CFR. Stephens boosted their price objective on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. cut their price objective on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley cut Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $112.00 to $121.00 in a research report on Monday, August 5th. Truist Financial cut their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group dropped their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $119.71.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 1,598 shares in the company, valued at approximately $190,481.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 1,598 shares in the company, valued at approximately $190,481.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the transaction, the executive vice president now owns 18,753 shares in the company, valued at $2,243,796.45. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

About Cullen/Frost Bankers

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.