CFR Cullen/Frost Bankers, Inc. Common Stock

NYSE · Banking · View on SEC EDGAR ↗
$166.87
Price · Aug 19, 2026
Fundamentals as of Jul 30, 2026
52W Range
$119–$171
92% of range
Analyst Rating
HOLD
19 analysts
Price Target
$170
+2% upside
P/E (TTM)
12.8
ROE
14.8%
Net Profit Margin
29.0%

CFR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$166.87
Market Cap
—
P/E (TTM)
12.8
EPS (TTM)
$9.92
Revenue (TTM)
$2.24B
Div Yield
—
ROE
14.8%
Debt/Equity
—
52W Range
$119 – $171

CFR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $2.24B
10-point trend, +98.5%
2016-12-31 → 2025-12-31
EPS $9.92
10-point trend, +111.1%
2016-12-31 → 2025-12-31
Free Cash Flow $127M
10-point trend, -66.9%
2016-12-31 → 2025-12-31
Margins 29.0%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
CFR
Peer Median
P/E (TTM)
5-point trend, -31.6%
12.8
12.1

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
CFR
Peer Median
Net Profit Margin
5-point trend, -10.2%
29.0%
28.3%
ROA
5-point trend, +29.5%
1.2%
1.2%
ROE
5-point trend, +46.9%
14.8%
11.1%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
CFR
Peer Median

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
CFR
Peer Median
Revenue YoY
5-point trend, +63.0%
8.3%
—
Revenue CAGR 3Y
5-point trend, +63.0%
9.6%
—
Revenue CAGR 5Y
5-point trend, +63.0%
9.2%
—
EPS YoY
5-point trend, +46.7%
11.8%
—
Net Income YoY
5-point trend, +46.4%
11.3%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
CFR
Peer Median
EPS (Diluted)
5-point trend, +46.7%
$9.92
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
CFR
Peer Median
Payout Ratio
5-point trend, -7.6%
39.4%
—

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
—
Payout Ratio
39.4%
5Y Div CAGR
—
Ex-dateAmount
May 29, 2026$1.0300
Feb. 27, 2026$1.0000
Nov. 28, 2025$1.0000
Aug. 29, 2025$1.0000
May 30, 2025$1.0000
Feb. 28, 2025$0.9500
Nov. 29, 2024$0.9500
Aug. 30, 2024$0.9500
May 31, 2024$0.9200
Feb. 28, 2024$0.9200
Nov. 29, 2023$0.9200
Aug. 30, 2023$0.9200
May 30, 2023$0.8700
Feb. 27, 2023$0.8700
Nov. 29, 2022$0.8700
Aug. 30, 2022$0.8700
May 27, 2022$0.7500
Feb. 25, 2022$0.7500
Nov. 29, 2021$0.7500
Aug. 30, 2021$0.7500

CFR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

HOLD 19 analysts
  • Strong Buy 3 15.8%
  • Buy 6 31.6%
  • Hold 8 42.1%
  • Sell 1 5.3%
  • Strong Sell 1 5.3%

12-Month Price Target

14 analysts · 2026-08-15
Median target $175.50 +5.2%
Mean target $169.50 +1.6%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.13%
Period EPS Actual EPS Est Surprise
June 30, 2026 $2.70 $2.57 0.13%
March 31, 2026 $2.65 $2.49 0.16%
Dec. 31, 2025 $2.56 $2.48 0.08%
Sept. 30, 2025 $2.67 $2.41 0.26%
June 30, 2025 $2.39 $2.33 0.06%
March 31, 2025 $2.30 $2.19 0.11%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
CFR — 12.8 8.3% 29.0% 14.8% —
WBS — 10.7 11.9% — — —
FHN $11.59B 12.8 7.2% 28.7% 11.1% —
UMBF $8.74B 12.4 62.8% 26.5% 9.4% —
WTFC $9.36B 12.3 5.9% 310.1% 11.4% —
SSB $9.33B 12.0 56.1% 29.8% 8.9% —
ZION $8.64B 9.7 3.6% 135.8% 13.1% —
ONB $8.69B 12.5 — 26.5% 8.1% —
COLB $8.26B 12.2 18.8% 310.7% 8.5% —
WAL — 9.6 99.7% 713.6% 13.5% —
PB $6.43B 12.1 4.8% 43.4% 7.1% —

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 10
Annual Income Statement data for CFR
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +122.0% $2.24B $2.06B $1.99B $1.70B $1.37B $1.44B $1.37B $1.31B $1.20B $1.13B $1.07B $1.01B
Interest Expense 10-point trend, +4433.6% · · $659M $184M $24M $45M $130M $93M $27M $12M $13M $15M
Interest Income 12-point trend, +245.1% $2.42B $2.39B $2.22B $1.48B $1.01B $1.02B $1.13B $1.05B $893M $788M $749M $701M
Pretax Income 12-point trend, +129.7% $772M $696M $712M $669M $490M $351M $499M $509M $408M $341M $320M $336M
Income Tax 12-point trend, +112.1% $123M $113M $114M $90M $46M $20M $56M $54M $44M $37M $40M $58M
Net Income 12-point trend, +133.3% $649M $583M $598M $579M $443M $331M $444M $455M $364M $304M $279M $278M
EPS (Basic) 12-point trend, +129.6% $9.92 $8.88 $9.11 $8.84 $6.79 $5.11 $6.89 $6.97 $5.56 $4.73 $4.31 $4.32
EPS (Diluted) 12-point trend, +131.2% $9.92 $8.87 $9.10 $8.81 $6.76 $5.10 $6.84 $6.90 $5.51 $4.70 $4.28 $4.29
Shares (Basic) 12-point trend, +3.2% 64,054,228 64,120,455 64,204,239 64,156,870 63,612,658 62,727,053 62,741,769 63,704,508 63,693,927 62,376,260 62,758,074 62,072,080
Shares (Diluted) 12-point trend, +1.8% 64,099,238 64,262,646 64,404,833 64,520,518 64,102,120 63,003,837 63,441,870 64,686,716 64,662,088 62,968,875 63,473,324 62,973,528
Balance Sheet 13
Annual Balance Sheet data for CFR
Metric Trend 202520242023202220212020201920182017201620152014
PP&E (Net) 12-point trend, +197.0% $1.31B $1.25B $1.19B $1.10B $1.05B $1.05B $1.01B $552M $521M $526M $559M $442M
PP&E (Gross) 12-point trend, +183.5% $1.77B $1.70B $1.58B $1.47B $1.39B $1.35B $1.28B $803M $752M $723M $760M $625M
Accum. Depreciation 12-point trend, +150.7% $458M $450M $394M $364M $342M $302M $267M $251M $231M $197M $201M $183M
Goodwill 9-point trend, +0.0% · · · $655M $655M $655M $655M $655M $655M $655M $655M $655M
Intangibles 9-point trend, -96.8% · · · $386.0K $866.0K $2M $2M $4M $5M $7M $9M $12M
Total Assets 12-point trend, +87.6% $53.04B $52.52B $50.85B $52.89B $50.88B $42.39B $34.03B $32.29B $31.75B $30.20B $28.57B $28.28B
Total Liabilities 12-point trend, +90.6% $48.47B $48.62B $47.13B $49.76B $46.44B $38.10B $30.12B $28.92B $28.45B $27.19B $25.68B $25.43B
Common Stock 12-point trend, +1.1% $644.0K $644.0K $644.0K $643.0K $642.0K $642.0K $642.0K $642.0K $642.0K $637.0K $637.0K $637.0K
Retained Earnings 12-point trend, +152.0% $4.31B $3.95B $3.66B $3.31B $2.96B $2.75B $2.67B $2.44B $2.19B $1.99B $1.85B $1.71B
Treasury Stock 12-point trend, +331.8% $140M $23M $24M $0 $21M $114M $152M $120M $67M $10M $111M $32M
AOCI 12-point trend, -694.4% $-843M $-1.25B $-1.12B $-1.35B $347M $513M $267M $-64M $80M $-25M $114M $142M
Stockholders' Equity 12-point trend, +60.4% $4.57B $3.90B $3.72B $3.14B $4.44B $4.29B $3.91B $3.37B $3.30B $3.00B $2.89B $2.85B
Liabilities + Equity 12-point trend, +87.6% $53.04B $52.52B $50.85B $52.89B $50.88B $42.39B $34.03B $32.29B $31.75B $30.20B $28.57B $28.28B
Cash Flow 15
Annual Cash Flow data for CFR
Metric Trend 202520242023202220212020201920182017201620152014
D&A 12-point trend, +120.2% $88M $83M $76M $71M $69M $64M $54M $50M $48M $48M $42M $40M
Stock-based Comp 12-point trend, +98.0% $25M $20M $25M $18M $13M $14M $16M $14M $13M $12M $13M $13M
Deferred Tax 12-point trend, +230.1% $5M $-12M $-15M $-5M $8M $-16M $8M $53M $-14M $-12M $-19M $-4M
Amort. of Intangibles 9-point trend, -86.4% · · · $480.0K $697.0K $918.0K $1M $1M $2M $2M $3M $4M
Operating Cash Flow 12-point trend, -5.5% $274M $990M $479M $723M $648M $524M $634M $562M $538M $438M $395M $290M
CapEx 12-point trend, +11.1% $147M $128M $159M $103M $66M $95M $207M $79M $34M $54M $147M $132M
Investing Cash Flow 9-point trend, -138.8% $-1.60B $-181M $-943M $-8.28B $-2.53B $-1.63B $-1.39B $-1.91B $-671M · · ·
Net Debt Issued Flat — no change across 2 periods · · · · · · · · · · $0 $0
Stock Repurchased 12-point trend, +10732.7% $158M $61M $43M $4M $4M $16M $69M $101M $101M $1M $101M $1M
Net Stock Activity 12-point trend, -10732.7% $-158M $-61M $-43M $-4M $-4M $-16M $-69M $-101M $-101M $-1M $-101M $-1M
Dividends Paid 12-point trend, +100.8% $255M $242M $232M $210M $189M $181M $177M $165M $144M $135M $132M $127M
Financing Cash Flow 9-point trend, -103.2% $-33M $738M $-2.88B $3.00B $8.17B $7.61B $585M $254M $1.04B · · ·
Net Change in Cash 7-point trend, +3485.7% · · · · · $6.50B $-168M $-1.10B $912M $550M $-773M $-192M
Free Cash Flow 12-point trend, -17.7% $127M $862M $320M $620M $582M $429M $427M $483M $504M $384M $246M $155M
Levered FCF 10-point trend, -263.3% · · $-233M $460M $561M $386M $312M $400M $480M $373M $235M $143M
Profitability 4
Annual Profitability data for CFR
Metric Trend 202520242023202220212020201920182017201620152014
Net Margin 12-point trend, +5.1% 29.0% 28.2% 30.1% 34.2% 32.3% 23.0% 32.4% 34.8% 30.3% 27.0% 26.2% 27.6%
Pretax Margin 12-point trend, +3.4% 34.5% 33.7% 35.9% 39.4% 35.7% 24.4% 36.5% 38.9% 34.0% 30.3% 30.0% 33.4%
ROA 12-point trend, +16.0% 1.2% 1.1% 1.1% 1.1% 0.95% 0.87% 1.3% 1.4% 1.2% 1.0% 0.98% 1.1%
ROE 12-point trend, +50.7% 14.8% 14.5% 17.8% 19.5% 10.1% 7.9% 11.4% 13.6% 11.2% 9.9% 9.6% 9.8%
Efficiency 1
Annual Efficiency data for CFR
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 12-point trend, +10.4% 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Per Share 4
Annual Per Share data for CFR
Metric Trend 202520242023202220212020201920182017201620152014
Revenue / Share 12-point trend, +118.1% $34.87 $32.11 $30.85 $26.29 $21.40 $22.88 $21.56 $20.24 $18.60 $17.88 $16.78 $15.99
Cash Flow / Share 12-point trend, -6.1% $4.27 $15.40 $7.43 $11.20 $10.11 $8.32 $9.99 $8.69 $8.32 $6.95 $6.20 $4.55
Dividend Paid / Share 12-point trend, +94.6% $4 $4 $4 $3 $3 $3 $3 $3 $2 $2 $2 $2
EPS (TTM) 12-point trend, +131.2% $9.92 $8.87 $9.10 $8.81 $6.76 $5.10 $6.84 $6.90 $5.51 $4.70 $4.28 $4.29
Growth Rates 10
Annual Growth Rates data for CFR
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, +271.3% 8.3% 3.9% 17.2% 23.7% -4.9% · · · · · · ·
Revenue CAGR 3Y 3-point trend, -14.7% 9.6% 14.6% 11.3% · · · · · · · · ·
Revenue CAGR 5Y 9.2% · · · · · · · · · · ·
EPS YoY 5-point trend, -63.6% 11.8% -2.5% 3.3% 30.3% 32.6% · · · · · · ·
EPS CAGR 3Y 3-point trend, -81.1% 4.0% 9.5% 21.3% · · · · · · · · ·
EPS CAGR 5Y 14.2% · · · · · · · · · · ·
Net Income YoY 5-point trend, -66.5% 11.3% -2.6% 3.2% 30.7% 33.8% · · · · · · ·
Net Income CAGR 3Y 3-point trend, -82.3% 3.9% 9.6% 21.8% · · · · · · · · ·
Net Income CAGR 5Y 14.4% · · · · · · · · · · ·
Dividend CAGR 5Y 7.2% · · · · · · · · · · ·
Valuation (TTM) 6
Annual Valuation (TTM) data for CFR
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +122.0% $2.24B $2.06B $1.99B $1.70B $1.37B $1.44B $1.37B $1.31B $1.20B $1.13B $1.07B $1.01B
Net Income TTM 12-point trend, +133.3% $649M $583M $598M $579M $443M $331M $444M $455M $364M $304M $279M $278M
P/E 12-point trend, -22.5% 12.8 15.1 11.9 15.2 18.6 17.1 14.3 12.7 17.2 18.8 14.0 16.5
Earnings Yield 12-point trend, +29.0% 7.8% 6.6% 8.4% 6.6% 5.4% 5.9% 7.0% 7.8% 5.8% 5.3% 7.1% 6.1%
Payout Ratio 12-point trend, -13.9% 39.4% 41.6% 38.9% 36.2% 42.6% 54.5% 39.9% 36.4% 39.6% 44.3% 47.3% 45.8%
Annual Payout 12-point trend, +100.8% $255M $242M $232M $210M $189M $181M $177M $165M $144M $135M $132M $127M

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $2.24B$2.06B$1.99B$1.70B$1.37B
Net Income $649M$583M$598M$579M$443M
Diluted EPS $9.92$8.87$9.10$8.81$6.76
Cash Flow
2025-12-312024-12-312023-12-312022-12-312021-12-31
Free Cash Flow $127M$862M$320M$620M$582M

Latest News Recent headlines mentioning this company

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Institutional owners (13F) 603 filers · $6.6B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
83 (-3 vs prior Q) 46 (-9 vs prior Q) 160 (-19 vs prior Q) 191 (+31 vs prior Q) +7.1M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $750,645,545 5,927,865 11.44% Shares
Aristotle Capital Management, LLC $690,012,860 4,465,464 10.52% Shares
STATE STREET CORP $497,291,739 3,218,249 7.58% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $494,667,039 3,201,314 7.54% Shares
First Eagle Investment Management, LLC $429,203,714 2,777,658 6.54% Shares
VANGUARD CAPITAL MANAGEMENT LLC $419,624,556 2,715,665 6.40% Shares
DIMENSIONAL FUND ADVISORS LP $232,674,385 1,505,789 3.55% Shares
KING LUTHER CAPITAL MANAGEMENT CORP $192,543,509 1,246,075 2.94% Shares
TWO SIGMA INVESTMENTS, LP $176,822,181 1,144,332 2.70% Shares
BAILLIE GIFFORD & CO $173,113,392 1,120,330 2.64% Shares
GEODE CAPITAL MANAGEMENT, LLC $168,550,739 1,090,494 2.57% Shares
NORGES BANK $115,457,653 747,202 1.76% Shares
WESTWOOD HOLDINGS GROUP INC $91,246,312 590,515 1.39% Shares
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC $89,424,587 578,725 1.36% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $80,126,655 518,552 1.22% Shares
Artemis Investment Management LLP $67,454,624 436,543 1.03% Shares
Boston Trust Walden Corp $63,429,842 410,496 0.97% Shares
Madison Asset Management, LLC $62,279,983 403,055 0.95% Shares
Alberta Investment Management Corp $61,808,000 400,000 0.94% Shares
VANGUARD FIDUCIARY TRUST CO $60,911,475 394,198 0.93% Shares
Champlain Investment Partners, LLC $58,657,337 379,610 0.89% Shares
JONES FINANCIAL COMPANIES LLLP $54,321,338 349,761 0.83% Shares
BANK OF AMERICA CORP /DE/ $53,185,475 344,198 0.81% Shares
Bank of New York Mellon Corp $46,483,324 300,824 0.71% Shares
Madison Investment Advisors, LLC $46,223,195 344,307 0.70% Shares
DEPRINCE RACE & ZOLLO INC $45,029,272 328,489 0.69% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $41,653,029 269,564 0.64% Shares
ENVESTNET ASSET MANAGEMENT INC $40,883,659 264,585 0.62% Shares
GOLDMAN SACHS GROUP INC $35,788,686 231,612 0.55% Shares
SEGALL BRYANT & HAMILL, LLC $35,003,879 226,533 0.53% Shares
D. E. Shaw & Co., Inc. $33,384,664 216,054 0.51% Shares
BlackRock, Inc. $30,036,525 194,386 0.46% Shares
ProShare Advisors LLC $28,797,274 186,366 0.44% Shares
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. $28,506,622 184,485 0.43% Shares
Fiera Capital Corp $27,722,588 179,411 0.42% Shares
TWO SIGMA ADVISERS, LP $26,693,604 210,800 0.41% Shares
NEW YORK STATE COMMON RETIREMENT FUND $25,735,615 166,552 0.39% Shares
RHUMBLINE ADVISERS $24,619,925 159,332 0.38% Shares
Retirement Systems of Alabama $23,139,370 149,750 0.35% Shares
SCOPUS ASSET MANAGEMENT, L.P. $22,961,065 99,500 0.35% Shares
RAYMOND JAMES FINANCIAL INC $20,938,055 135,504 0.32% Shares
Polaris Capital Management, LLC $20,597,516 133,300 0.31% Shares
Swiss National Bank $18,542,400 120,000 0.28% Shares
BARTLETT & CO. WEALTH MANAGEMENT LLC $18,016,043 116,594 0.27% Shares
MORGAN STANLEY $17,658,300 114,278 0.27% Shares
California Public Employees Retirement System $17,635,368 114,130 0.27% Shares
PRINCIPAL FINANCIAL GROUP INC $17,273,869 111,778 0.26% Shares
Arbejdsmarkedets Tillaegspension $16,131,888 104,400 0.25% Shares
PALISADE CAPITAL MANAGEMENT, LP $16,089,411 104,125 0.25% Shares
Impax Asset Management Group plc $14,679,400 95,000 0.22% Shares
COMMONWEALTH EQUITY SERVICES, LLC $13,470,117 87,174 0.21% Shares
BARCLAYS PLC $13,125,391 84,943 0.20% Shares
SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC $13,075,946 84,623 0.20% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $12,959,283 83,868 0.20% Shares
WHITTIER TRUST CO $11,208,842 71,732 0.17% Shares
Hilton Capital Management, LLC $10,968,325 70,983 0.17% Shares
BNP PARIBAS FINANCIAL MARKETS $10,960,413 70,932 0.17% Shares
Martin Capital Partners, LLC $10,793,324 69,851 0.16% Shares
WELLINGTON MANAGEMENT GROUP LLP $10,774,525 69,729 0.16% Shares
ALLIANCEBERNSTEIN L.P. $10,524,317 76,775 0.16% Shares
JANE STREET GROUP, LLC $10,507,360 68,000 0.16% Call option
Quantinno Capital Management LP $10,369,961 67,110 0.16% Shares
LPL Financial LLC $10,015,385 64,816 0.15% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $9,926,237 72,412 0.15% Shares
AMERIPRISE FINANCIAL INC $8,996,464 58,222 0.14% Shares
VANGUARD ASSET MANAGEMENT, Ltd $8,555,927 55,371 0.13% Shares
AMERICAN CENTURY COMPANIES INC $8,544,492 55,297 0.13% Shares
TCTC Holdings, LLC $8,396,153 54,337 0.13% Shares
STRS OHIO $8,311,631 53,790 0.13% Shares
Greenfield Seitz Capital Management, LLC $8,265,429 53,491 0.13% Shares
LAWSON KROEKER INVESTMENT MANAGEMENT INC/NE $8,230,971 53,268 0.13% Shares
ROWLANDMILLER & PARTNERS.ADV $7,956,487 51,491 0.12% Shares
MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC $7,851,316 50,811 0.12% Shares
TUDOR INVESTMENT CORP ET AL $7,655,693 49,545 0.12% Shares
Argent Trust Co $7,388,373 47,815 0.11% Shares
UBS Group AG $7,383,584 47,784 0.11% Shares
Verition Fund Management LLC $7,249,460 46,916 0.11% Shares
HSBC HOLDINGS PLC $7,217,732 46,554 0.11% Shares
Ilex Capital Partners (UK) LLP $6,880,003 44,525 0.10% Shares
MAIRS & POWER INC $6,597,386 42,696 0.10% Shares
Vest Financial, LLC $6,410,571 41,487 0.10% Shares
NEUBERGER BERMAN GROUP LLC $6,237,670 40,368 0.10% Shares
JB Capital LLC $6,234,484 40,347 0.10% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $6,149,896 39,800 0.09% Call option
FIRST MERCHANTS CORP $6,012,064 38,908 0.09% Shares
RENAISSANCE TECHNOLOGIES LLC $5,964,472 38,600 0.09% Shares
WHITTIER TRUST CO OF NEVADA INC $5,857,830 37,242 0.09% Shares
Universal- Beteiligungs- und Servicegesellschaft mbH $5,632,408 36,451 0.09% Shares
Legal & General Group Plc $5,590,380 36,179 0.09% Shares
Connor, Clark & Lunn Investment Management Ltd. $5,502,612 35,611 0.08% Shares
ExodusPoint Capital Management, LP $5,397,229 34,929 0.08% Shares
Ceredex Value Advisors LLC $5,369,570 34,750 0.08% Shares
Squarepoint Ops LLC $5,257,234 34,023 0.08% Shares
Glass Wealth Management Co LLC $5,228,648 33,838 0.08% Shares
FIFTH THIRD BANCORP $5,201,558 33,662 0.08% Shares
NISA INVESTMENT ADVISORS, LLC $5,014,483 32,452 0.08% Shares
FIRST NATIONAL BANK OF OMAHA $4,925,479 31,876 0.08% Shares
MetLife Investment Management, LLC $4,662,332 30,173 0.07% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $4,575,646 29,612 0.07% Shares
NORTHERN TRUST CORP $4,505,803 29,160 0.07% Shares

Company insiders 56 insiders · 19 officers · 29 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Phillip D Green Chairman and CEO Feb. 10, 2026 G 110,879 0 0 $0
Jerry Salinas GEVP and CFO Dec. 5, 2024 G 37,394 0 0 $0
David W Beck Jr President Oct. 25, 2015 F 10,068 0 0 $0
Carol Jean Severyn GEVP and Chief Risk Officer June 12, 2026 S 12,712 0 1 $-124,119
Matthew Bradley Henson Chief Accounting Officer May 2, 2025 P 5,545 0 0 $0
Coolidge E Rhodes JR Group EVP General Counsel/Sec Feb. 6, 2025 D 3,223 0 0 $0
Jimmy Stead GEVP Chief Consumer Banking Feb. 6, 2025 D 15,018 0 0 $0
Candace K Wolfshohl GEVP Culture/PeopleDevelopment Feb. 6, 2025 D 22,159 0 0 $0
Annette M Alonzo GEVP Chief HR Officer Feb. 6, 2025 D 17,840 0 0 $0
Howard L. Kasanoff GEVP Chief Credit Officer Nov. 8, 2024 M 2,888 0 0 $0
Kenneth L. Wilson GEVP Chief Wealth Officer Oct. 29, 2024 A — 0 0 $0
William L Perotti GEVP and Chief Credit Officer Oct. 25, 2022 A 99,049 0 0 $0
James L Waters GEVP and General Counsel Oct. 27, 2020 A — 0 0 $0
Michael E. Russell Group Executive Vice President Oct. 29, 2019 A — 0 0 $0
Gary C Mcknight Group Executive Vice President Jan. 26, 2018 M 844 0 0 $0
Paul Olivier Group Executive Vice President Oct. 29, 2017 M 19,416 0 0 $0
Richard Kardys Wealth Advisor Sr. Officer Oct. 29, 2017 M 117,592 0 0 $0
Emily Skillman Group Executive Vice President Oct. 27, 2015 A 14,316 0 0 $0
Thomas Clayborne Frost Senior Chairman Feb. 7, 2008 G 657,966 0 0 $0
Jeffrey M. Rummel Director April 29, 2026 A — 0 0 $0
John T Engates Director April 29, 2026 A — 0 0 $0
Esperanza Andrade Director April 29, 2026 A — 0 0 $0
Howard Willome John Director April 29, 2026 A 9,000 0 0 $0
Joseph A. Pierce Director April 29, 2026 A — 0 0 $0
Linda B. Rutherford Director April 29, 2026 A — 0 0 $0
Samuel G. Dawson Director April 29, 2026 A 5,606 0 0 $0
Cynthia Jane Comparin Director April 29, 2026 A 1,000 0 0 $0
David J Haemisegger Director April 29, 2026 A 19 0 0 $0
Crawford H Edwards Director April 29, 2026 A 50,732 0 0 $0
Marsha Mccombs Shields Director April 29, 2026 A — 0 0 $0
Anthony R Chase Director April 29, 2026 A 1 0 0 $0
Charles W Matthews Director April 29, 2026 A 3,000 0 0 $0
Chris Avery Director April 30, 2025 A 10,000 0 0 $0
Patrick B Frost Director March 5, 2024 D 254,645 0 0 $0
Carlos Alvarez Director April 26, 2023 A 294,000 0 0 $0
Graham M Weston Director May 1, 2020 P 164,113 0 0 $0
Jarvis V. Hollingsworth Director April 24, 2019 A — 0 0 $0
Horace Wilkins JR Director April 24, 2019 A 400 0 0 $0
Richard M Kleberg III Director April 24, 2019 A 28,025 0 0 $0
Robert S Mcclane Director July 30, 2010 S 10,158 0 0 $0
James L Hayne Director May 5, 2006 M 19,596 0 0 $0
Mary Beth Williamson Director May 18, 2005 A — 0 0 $0
Harry H Cullen Director May 18, 2005 A 0 0 0 $0
Isaac Arnold JR Director May 18, 2005 A 27,968 0 0 $0
Joe R Fulton Director July 29, 2004 A — 0 0 $0
Eugene H Dawson SR Director July 29, 2004 A — 0 0 $0
Paul Bracher — Feb. 5, 2026 D 108,679 0 0 $0
Bobby Berman — Feb. 5, 2026 D 29,150 0 1 $-137,070
Karen E Jennings — April 27, 2022 M 10,311 0 0 $0
Ida Clement Steen — April 27, 2022 M 10,073 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 1 position

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
CULLEN/FROST BANKERS, INC. July 12, 2006 — Initial filing M&A / sale SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 125 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
EWL · iShares, Inc. 5.21% 479,625 SH Aug. 8, 2026 Daily
SMCO · Tidal Trust II 2.24% 19,941 NS April 30, 2026 N-PORT
MTRA · Invesco Actively Managed Exchange-T… 2.08% 12,308 SH Aug. 8, 2026 Daily
RXI · iShares Trust 1.95% 22,094 SH Aug. 8, 2026 Daily
IAT · iShares Trust 1.63% 66,917 SH Aug. 8, 2026 Daily
REGL · ProShares Trust 1.49% 184,556 NS May 31, 2026 N-PORT
XMLV · Invesco Exchange-Traded Fund Trust … 1.27% 57,895 SH Aug. 8, 2026 Daily
EFG · iShares Trust 1.17% 825,825 SH Aug. 8, 2026 Daily
DPST · Direxion Shares ETF Trust 1.01% 34,571 NS April 30, 2026 N-PORT
XMVM · Invesco Exchange-Traded Fund Trust 0.97% 29,809 SH Aug. 8, 2026 Daily
IGRO · iShares Trust 0.97% 52,234 SH Aug. 8, 2026 Daily
IEV · iShares Trust 0.90% 62,679 SH Aug. 8, 2026 Daily
SDVD · First Trust Exchange-Traded Fund IV 0.89% 51,407 NS April 30, 2026 N-PORT
IQLT · iShares Trust 0.86% 497,701 SH Aug. 8, 2026 Daily
IEUR · iShares Trust 0.80% 300,817 SH Aug. 8, 2026 Daily
VGK · VANGUARD INTERNATIONAL EQUITY INDEX… 0.77% 1,278,653 SH Aug. 8, 2026 Daily
EFA · iShares Trust 0.58% 1,901,651 SH Aug. 8, 2026 Daily
FQAL · FIDELITY COVINGTON TRUST 0.57% 54,093 NS April 30, 2026 N-PORT
QDEF · FlexShares Trust 0.50% 18,426 NS April 30, 2026 N-PORT
QDF · FlexShares Trust 0.50% 73,260 NS April 30, 2026 N-PORT
IEFA · iShares Trust 0.50% 3,978,461 SH Aug. 8, 2026 Daily
HSMV · First Trust Exchange-Traded Fund III 0.47% 994 NS April 30, 2026 N-PORT
IDEV · iShares Trust 0.43% 576,808 SH Aug. 8, 2026 Daily
INTF · iShares Trust 0.42% 64,569 SH Aug. 8, 2026 Daily
VEA · VANGUARD TAX-MANAGED FUNDS 0.37% 5,200,757 SH Aug. 8, 2026 Daily
ACWX · iShares Trust 0.35% 168,893 SH Aug. 8, 2026 Daily
XJH · iShares Trust 0.33% 8,501 SH Aug. 8, 2026 Daily
FXO · First Trust Exchange-Traded AlphaDE… 0.31% 23,251 NS April 30, 2026 N-PORT
ISCV · iShares Trust 0.31% 13,089 SH Aug. 8, 2026 Daily
IXUS · iShares Trust 0.30% 742,257 SH Aug. 8, 2026 Daily
VEU · VANGUARD INTERNATIONAL EQUITY INDEX… 0.30% 1,244,658 SH Aug. 8, 2026 Daily
IJJ · iShares Trust 0.29% 159,720 SH Aug. 8, 2026 Daily
QVMM · Invesco Exchange-Traded Fund Trust … 0.29% 7,882 SH Aug. 8, 2026 Daily
IJH · iShares Trust 0.28% 2,166,640 SH Aug. 8, 2026 Daily
IVOV · VANGUARD ADMIRAL FUNDS 0.28% 26,961 SH Aug. 8, 2026 Daily
IJK · iShares Trust 0.28% 183,856 SH Aug. 8, 2026 Daily
VXUS · VANGUARD STAR FUNDS 0.27% 7,815,996 SH Aug. 8, 2026 Daily
IVOO · VANGUARD ADMIRAL FUNDS 0.27% 101,520 SH Aug. 8, 2026 Daily
PTMC · Pacer Funds Trust 0.27% 7,258 NS April 30, 2026 N-PORT
SMLF · iShares Trust 0.25% 65,560 SH Aug. 8, 2026 Daily
IVOG · VANGUARD ADMIRAL FUNDS 0.25% 30,981 SH Aug. 8, 2026 Daily
DFAT · Dimensional ETF Trust 0.24% 223,182 NS April 30, 2026 N-PORT
BKMC · BNY Mellon ETF Trust 0.22% 9,415 NS April 30, 2026 N-PORT
FSMD · FIDELITY COVINGTON TRUST 0.21% 33,893 NS April 30, 2026 N-PORT
AVMV · AMERICAN CENTURY ETF TRUST 0.21% 9,467 NS May 31, 2026 N-PORT
VBR · VANGUARD INDEX FUNDS 0.20% 868,445 SH Aug. 8, 2026 Daily
PXF · Invesco Exchange-Traded Fund Trust … 0.20% 23,950 SH Aug. 8, 2026 Daily
MVV · ProShares Trust 0.19% 2,183 NS May 31, 2026 N-PORT
MIDU · Direxion Shares ETF Trust 0.18% 1,046 NS April 30, 2026 N-PORT
BBMC · J.P. Morgan Exchange-Traded Fund Tr… 0.17% 24,395 NS April 30, 2026 N-PORT