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CFR Cullen Frost Bankers

Cullen/Frost Bankers, Inc. operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services, as well as trust and investment management, mutual funds, investment banking, insurance, brokerage, leasing, asset-based lending, treasury management and item processing services. It operates through the following segments: Banking and Frost Wealth Advisors. The Banking operating segment includes both commercial and consumer banking services and Frost Insurance Agency. Commercial banking services are provided to corporations and other business clients and include a wide array of lending and cash management products; Consumer banking services include direct lending and depository services; Frost Insurance Agency provides insurance brokerage services to individuals and businesses covering corporate and personal property and casualty products, as well as group health and life insurance products and human resources consulting services. The Frost Wealth Advisors segment includes fee-based services within private trust, retirement services, and financial management services, including personal wealth management and brokerage services. The company was founded in 1868 and is headquartered in San Antonio, TX.

Company profile

Ticker
CFR, CFR-PB
Exchange
CEO
Phillip Green
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CULLEN FROST BANKERS INC
SEC CIK
IRS number
741751768

CFR stock data

(
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Investment data

Data from SEC filings
Top 50 of 984 long holdings
End of quarter 31 Mar 21
Value
 
#Shares
 
$242.62M 1.99M
$236.58M 1M
$157.01M 50.75K
$156.8M 75.91K
$149.64M 881.53K
$84.04M 396.91K
$83.66M 274.08K
$74.62M 209.57K
$73.37M 481.97K
$71.07M 321.14K
$67.13M 227.91K
$65.25M 268.68K
$52.21M 317.68K
$51.71M 188.98K
$50.26M 126.75K
$44.82M 127.16K
$44.11M 403.71K
$43.22M 196.08K
$43.04M 203.13K
$42.88M 190.12K
$42.58M 189.15K
$42.29M 84.57K
$42.03M 227.81K
$40.43M 85.06K
$39.98M 716.13K
$38.47M 106.82K
$38.34M 357.29K
$37.95M 102K
$37.91M 361.77K
$37.61M 277.73K
$36.76M 233.43K
$35.01M 184.1K
$34.02M 585.11K
$33.79M 64.77K
$32.94M 567.54K
$30.87M 81.38K
$30.5M 701.1K
$29.88M 361.04K
$29.69M 767.3K
$29.35M 221.32K
$28.83M 39.07K
$28.76M 372.84K
$28.2M 534.92K
$28.14M 238.03K
$28.11M 203.26K
$28.09M 234.43K
$27.16M 250.98K
$26.96M 247.86K
$26.84M 235.89K
$25.02M 483.8K
Holdings list only includes long positions. Only includes long positions.

Calendar

29 Apr 21
14 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 May 21 Jimmy Stead Common Stock, $0.01 par value Sell Dispose S No No 122.8 3,000 368.4K 3,045
6 May 21 Jimmy Stead Common Stock, $0.01 par value Option exercise Aquire M No No 65.11 2,000 130.22K 6,045
6 May 21 Jimmy Stead Common Stock, $0.01 par value Option exercise Aquire M No No 78.92 1,000 78.92K 4,045
6 May 21 Jimmy Stead Employee Stock Option Common Stock Option exercise Dispose M No No 65.11 2,000 130.22K 0
6 May 21 Jimmy Stead Employee Stock Option Common Stock Option exercise Dispose M No No 78.92 1,000 78.92K 0
28 Apr 21 Alvarez Carlos Deferred Stock Units Common Stock Grant Aquire A No No 0 594 0 8,011
28 Apr 21 Cynthia Jane Comparin Deferred Stock Units Common Stock Grant Aquire A No No 0 594 0 2,126
28 Apr 21 Edwards Crawford H Deferred Stock Units Common Stock Grant Aquire A No No 0 594 0 8,011
28 Apr 21 Haemisegger David J Deferred Stock Units Common Stock Grant Aquire A No No 0 594 0 7,466

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

81.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 309 314 -1.6%
Opened positions 43 50 -14.0%
Closed positions 48 44 +9.1%
Increased positions 85 86 -1.2%
Reduced positions 120 117 +2.6%
13F shares
Current Prev Q Change
Total value 5.6B 4.41B +26.9%
Total shares 51.51M 50.57M +1.9%
Total puts 122.4K 130.1K -5.9%
Total calls 292.5K 403.1K -27.4%
Total put/call ratio 0.4 0.3 +29.7%
Largest owners
Shares Value Change
Aristotle Capital Management 6.9M $750.28M +51.9%
Vanguard 5.59M $607.76M -10.0%
BLK Blackrock 5.08M $552.35M +0.6%
STT State Street 5.08M $552.09M -0.6%
FMR 2.49M $270.79M -4.6%
IVZ Invesco 2.35M $255.89M -1.3%
King Luther Capital Management 2.29M $249.56M -1.1%
Wellington Management 1.87M $203.91M -6.2%
ATAC Neuberger Berman 1.71M $184.69M +0.6%
Champlain Investment Partners 1.66M $180.41M +0.6%
Largest transactions
Shares Bought/sold Change
Aristotle Capital Management 6.9M +2.36M +51.9%
Capital Research Global Investors 1.11M +1.11M NEW
Vanguard 5.59M -622.5K -10.0%
Norges Bank 0 -537.17K EXIT
JPM JPMorgan Chase & Co. 1.1M -144.4K -11.6%
PFG Principal Financial Group Inc - Registered Shares 882.15K -132.64K -13.1%
Wellington Management 1.87M -123.06K -6.2%
FMR 2.49M -119.82K -4.6%
No Street GP 0 -105K EXIT
Ceredex Value Advisors 0 -99.89K EXIT

Financial report summary

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Management Discussion
  • Net income available to common shareholders totaled $113.9 million, or $1.77 per diluted common share, for the three months ended March 31, 2021 compared to $47.2 million, or $0.75 per diluted common share, for the three months ended March 31, 2020.
  • Net income available to common shareholders increased $66.6 million, or 141.1%, for the three months ended March 31, 2021 compared to the same period in 2020. The increase during the three months ended March 31, 2021 was primarily the result of a $175.1 million decrease in credit loss expense and a $14.0 million decrease in non-interest expense partly offset by a $119.7 million decrease in non-interest income, a $4.6 million increase in income tax expense and a $3.6 million decrease in net interest income. Credit loss expense during 2020 was impacted by both our adoption of a new credit loss accounting standard and the adverse events impacting our loan portfolio, including those arising from the COVID-19 pandemic and the significant volatility in oil prices. Non-interest income during 2020 was impacted by a $109.0 million net gain on securities transactions. Net income available to common shareholders during 2020 was also impacted by the reclassification of $5.5 million of issuance costs associated with our preferred stock to retained earnings upon redemption of the preferred stock.
  • Details of the changes in the various components of net income are further discussed below.
Content analysis
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