Cullen Frost Bankers (CFR)

Company Profile

Cullen/Frost Bankers, Inc. is a financial holding company, headquartered in San Antonio, with $40.1 billion in assets at September 30, 2020. Frost provides a wide range of banking, investments and insurance services to businesses and individuals across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost has helped clients with their financial needs during three centuries.

Company profile

Ticker

CFR, CFR-PB

Exchange

NYSE

Website

www.frostbank.com

CEO

Phillip Green

Incorporated

Texas

Location

Texas

Fiscal year end

Dec 31

Sector

Finance and Insurance > Commercial Banking

Industry (SIC)

National Commercial Banks

JPMorgan Chase & Co. • Citigroup • U.S. Bancorp. • PNC Financial Services • Shinhan Financial • HSBC USA • Bank Of America • Regions Financial • Keycorp • Santander Holdings USA ...

Former names

CULLEN FROST BANKERS INC

SEC CIK

0000039263

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Main Plaza Corporation • Frost Insurance Agency, Inc. • Frost Brokerage Services, Inc. • Frost Investment Advisors, LLC • Frost Investment Services, LLC • Tri-Frost Corporation • Carton Service Corporation ...

IRS number

741751768

CFR stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$144.20

Low target

$136.00

High target

$155.00

Latest filings (excl ownership)

View all

ARS

2022 FY

Annual report to shareholders

10 Mar 23

DEFA14A

Additional proxy soliciting materials

10 Mar 23

3 Feb 23

CULLEN/FROST REPORTS 4th QUARTER AND 2022 ANNUAL RESULTS

26 Jan 23

8-K

Cullen/frost Bankers Announces Election

25 Jan 23

8-K

Departure of Directors or Certain Officers

27 Oct 22

Cullen/frost Reports Third Quarter Results

27 Oct 22

8-K

Cullen/frost Bankers Announces Election

26 Oct 22

Transcripts

View all

CFR

Earnings call transcript

2022 Q4

26 Jan 23

CFR

Earnings call transcript

2022 Q2

28 Jul 22

CFR

Earnings call transcript

2022 Q1

28 Apr 22

CFR

Earnings call transcript

2021 Q4

27 Jan 22

CFR

Earnings call transcript

2021 Q3

28 Oct 21

CFR

Earnings call transcript

2021 Q2

30 Jul 21

CFR

Earnings call transcript

2021 Q1

29 Apr 21

CFR

Earnings call transcript

2020 Q4

29 Jan 21

CFR

Earnings call transcript

2020 Q3

30 Oct 20

CFR

Earnings call transcript

2020 Q2

31 Jul 20

Latest ownership filings

View all

Financial summary

Financial statements Chart CFR financial data

Quarter (USD)	Dec 22	Sep 22	Jun 22	Mar 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	12.03 bn	12.03 bn	12.03 bn	12.03 bn	12.03 bn	12.03 bn
Cash burn (monthly)	534.86 mm	379.57 mm	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	1.47 bn	1.05 bn	n/a	n/a	n/a	n/a
Cash remaining	10.56 bn	10.98 bn	n/a	n/a	n/a	n/a
Runway (months of cash)	19.7	28.9	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2022

CFR institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	438	400	+9.5%
Opened positions	82	66	+24.2%
Closed positions	44	66	-33.3%
Increased positions	178	153	+16.3%
Reduced positions	105	107	-1.9%

13F shares	Current	Prev Q	Change
Total value	6.87 tn	13.99 bn	+49003.7%
Total shares	52.40 mm	48.46 mm	+8.1%
Total puts	151.70 k	111.40 k	+36.2%
Total calls	128.50 k	195.10 k	-34.1%
Total put/call ratio	1.2	0.6	+106.8%

Largest owners	Shares	Value	Change
Aristotle Capital Management	6.90 mm	$921.87 bn	-3.5%
Vanguard	6.39 mm	$855.00 bn	+2.3%
BLK Blackrock	5.72 mm	$764.93 bn	+5.7%
STT State Street	3.88 mm	$519.37 bn	NEW
King Luther Capital Management	2.15 mm	$287.78 bn	-3.0%
Neuberger Berman	1.66 mm	$221.80 bn	+3.9%
Capital Research Global Investors	1.58 mm	$211.24 bn	-29.5%
FMR	1.45 mm	$193.90 bn	-11.1%
JHG Janus Henderson	1.25 mm	$167.24 bn	+37.3%
BAC Bank Of America	939.82 k	$125.65 bn	-2.8%

Largest transactions	Shares	Bought/sold	Change
STT State Street	3.88 mm	+3.88 mm	NEW
IVZ Invesco	285.93 k	-927.24 k	-76.4%
Capital Research Global Investors	1.58 mm	-662.06 k	-29.5%
Norges Bank	607.54 k	+607.54 k	NEW
CFR Cullen Frost Bankers	240.04 k	-488.37 k	-67.0%
JHG Janus Henderson	1.25 mm	+339.80 k	+37.3%
BLK Blackrock	5.72 mm	+308.74 k	+5.7%
Citadel Advisors	173.45 k	-301.16 k	-63.5%
Balyasny Asset Management	0.00	-297.76 k	EXIT
Aristotle Capital Management	6.90 mm	-251.04 k	-3.5%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

CFR insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
15 Mar 23	Candace K Wolfshohl	Common Stock, $0.01 par value	Buy	Acquire P	No	No	108.2799	700	75.80 k	16,291
13 Mar 23	Phillip D Green	Common Stock, $0.01 par value	Buy	Acquire P	No	No	106.5918	9,500	1.01 mm	114,729
13 Mar 23	Chris Avery	Common Stock, $0.01 par value	Buy	Acquire P	Yes	No	108.085	5,000	540.43 k	13,000
13 Mar 23	Howard Willome John	Common Stock, $0.01 par value	Buy	Acquire P	Yes	No	108.3	1,000	108.30 k	7,000
13 Mar 23	Howard Willome John	Common Stock, $0.01 par value	Buy	Acquire P	Yes	No	105.7	1,000	105.70 k	6,000
13 Mar 23	Carol Jean Severyn	Common Stock, $0.01 par value	Buy	Acquire P	No	No	107.3	1,500	160.95 k	5,371