CFRNYSENational Commercial BanksFiscal year ends December 31Also trades as CFR.PB
CULLEN/FROST BANKERS, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$153.21−1.84 (-1.19%)
Close on Oct 19, 2026
- Market cap
- $9.57B
- P/E (TTM)
- 14.4
- Dividend yield
- 2.58%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
60M
Shares held, 13F filers
Institutional holders
569
83 new, 49 sold out
Net institutional buying
6M
In Q2 2026
Insider trades, 12 months
0 buys · 4 sales
Net sold $350.13K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 5,851,996 | 9.10% | 13G (passive) amendment | Dec 31, 2023 |
| Aristotle Capital Management, LLC | 4,765,009 | 7.54% | 13G (passive) amendment | Mar 31, 2026 |
| Cullen/Frost Bankers, Inc. ("Cullen Frost Bankers') _____________________________________________________________________________________ | 3,695,341 | 5.00% | 13G (passive) amendment | Dec 31, 2023 |
| Vanguard Portfolio Management | 3,233,261 | 5.13% | 13G (passive) | Mar 31, 2026 |
| State Street Corporation | 3,218,876 | 5.10% | 13G (passive) | Jun 30, 2026 |
| Vanguard Capital Management | 3,185,170 | 5.05% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of CFR | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 7,335,319 | – | $1.13B | +255,504 | 0.02% |
| First Eagle Investment Management, LLC | 5,555,316 | – | $858.41M | +3,289,442 | 0.71% |
| Aristotle Capital Management, LLC | 4,465,464 | – | $690.01M | −299,545 | 1.45% |
| State Street Corp | 3,218,249 | – | $497.29M | +118,313 | 0.01% |
| Vanguard Portfolio Management LLC | 3,201,314 | – | $494.67M | −23,505 | 0.02% |
| Vanguard Capital Management LLC | 2,715,665 | – | $419.62M | +5,620 | 0.01% |
| Baillie Gifford & Co | 2,233,298 | – | $345.09M | New | 0.31% |
| Dimensional Fund Advisors LP | 1,652,820 | – | $255.40M | +122,048 | 0.05% |
| Geode Capital Management, LLC | 1,337,700 | – | $206.75M | +7,196 | 0.01% |
| King Luther Capital Management Corp | 1,246,075 | – | $192.54M | −79,889 | 0.79% |
| Two Sigma Investments, LP | 1,144,332 | – | $176.82M | +484,393 | 0.13% |
| Bank Of America Corp /De/ | 962,310 | – | $148.70M | −248,412 | 0.01% |
| Northern Trust Corp | 947,465 | – | $146.40M | +1,486 | 0.02% |
| Morgan Stanley | 842,630 | – | $130.20M | −9,411 | 0.01% |
| Norges Bank | 747,202 | – | $115.46M | New | 0.01% |
| Boston Trust Walden Corp | 732,331 | – | $113.16M | −235,518 | 0.86% |
| Principal Financial Group Inc | 654,435 | – | $101.13M | −7,892 | 0.05% |
| Goldman Sachs Group Inc | 651,588 | – | $100.68M | −50,083 | 0.01% |
| First Trust Advisors LP | 631,586 | – | $97.59M | −158,344 | 0.06% |
| Jupiter Topco LLC | 610,241 | – | $94.30M | New | 0.04% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|
| Q2 2026 | 569 | 60M | 83 / 173 | 205 / 49 | 10M | 4M |
| Q1 2026 | 542 | 55M | 81 / 184 | 173 / 59 | 13M | 6M |
| Q4 2025 | 528 | 55M | 90 / 141 | 197 / 35 | 4M | 5M |
| Q3 2025 | 480 | 57M | 53 / 171 | 157 / 49 | 5M | 3M |
| Q2 2025 | 482 | 54M | 65 / 176 | 157 / 61 | 3M | 3M |
| Q1 2025 | 482 | 54M | 79 / 150 | 175 / 47 | 3M | 4M |
| Q4 2024 | 458 | 56M | 70 / 157 | 146 / 46 | 3M | 4M |
| Q3 2024 | 439 | 57M | 71 / 155 | 145 / 26 | 11M | 2M |
| Q2 2024 | 398 | 53M | 40 / 128 | 169 / 48 | 3M | 3M |
| Q1 2024 | 410 | 54M | 49 / 138 | 145 / 43 | 3M | 3M |
| Q4 2023 | 408 | 54M | 77 / 147 | 123 / 46 | 5M | 3M |
| Q3 2023 | 382 | 52M | 46 / 119 | 148 / 33 | 3M | 5M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of CFR | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Mid-Cap ETF | 2,149,041 | – | $332.07M | 0.27% | Jun 30, 2026 |
| First Eagle Global Fund | 1,961,373 | – | $326.25M | 0.43% | Jul 31, 2026 |
| Vanguard Total Stock Market Index Fund | 1,891,166 | – | $292.22M | 0.01% | Jun 30, 2026 |
| Vanguard Windsor Ii Fund | 1,577,000 | – | $262.32M | 0.39% | Jul 31, 2026 |
| Vanguard Small-Cap Index Fund | 1,367,388 | – | $211.29M | 0.11% | Jun 30, 2026 |
| Vanguard Small-Cap Value Index Fund | 866,685 | – | $133.92M | 0.20% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 719,565 | – | $111.19M | 0.11% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Dividend ETF | 624,044 | – | $96.43M | 0.45% | Jun 30, 2026 |
| Janus Henderson Contrarian Fund | 582,776 | – | $90.05M | 1.64% | Jun 30, 2026 |
| First Trust SMID Cap Rising Dividend Achievers ETF | 527,167 | – | $81.46M | 0.72% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Regional Banking ETF | 414,582 | – | $64.06M | 1.35% | Jun 30, 2026 |
| Vanguard Dividend Appreciation Index Fund | 355,312 | – | $59.10M | 0.05% | Jul 31, 2026 |
| Fidelity Extended Market Index Fund | 326,120 | – | $44.20M | 0.10% | May 31, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 400(TM) Mid Cap ETF | 317,847 | – | $49.11M | 0.27% | Jun 30, 2026 |
| JPMorgan Small Cap Equity Fund | 260,110 | – | $40.19M | 1.40% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | Latest filing |
|---|---|---|---|
| Phillip D. Green | Chairman and CEO, Director | 151,217 | Feb 11, 2026 |
| Carol Jean Severyn | GEVP and Chief Risk Officer | 22,100 | Jun 15, 2026 |
| Coolidge E. Rhodes JR | Group EVP General Counsel/Sec | 5,400 | Mar 6, 2026 |
| Paul Bracher | President of CFR | 161,019 | Feb 9, 2026 |
| Bobby Berman | GEVP Research & Strategy | 48,830 | Feb 9, 2026 |
| Howard L. Kasanoff | GEVP Chief Credit Officer | 7,821 | Feb 9, 2026 |
| Annette M. Alonzo | GEVP Chief HR Officer | 36,622 | Feb 9, 2026 |
| Jimmy Stead | GEVP Chief Consumer Banking | 22,151 | Feb 9, 2026 |
| Ericka Lynn Pullin | GEVP, Culture & People Dev. | 5,925 | Dec 15, 2025 |
| Kenneth L. Wilson | GEVP Chief Wealth Officer | 520 | Oct 30, 2025 |
| Matthew Bradley Henson | Chief Accounting Officer | 6,725 | Oct 30, 2025 |
| Dan Geddes | GEVP & Chief Financial Officer | 11,116 | Oct 30, 2025 |
| Candace K. Wolfshohl | GEVP Culture/PeopleDevelopment | 41,253 | Feb 7, 2025 |
| Jerry Salinas | GEVP and CFO | 63,601 | Dec 6, 2024 |
| Jeffrey M. Rummel | Director | 0 | May 27, 2026 |
| Cynthia Jane Comparin | Director | 1,000 | May 27, 2026 |
| Marsha McCombs Shields | Director | 0 | May 27, 2026 |
| Crawford H. Edwards | Director | 180,966 | May 27, 2026 |
| David J. Haemisegger | Director | 0 | May 27, 2026 |
| Charles W. Matthews | Director | 3,000 | May 27, 2026 |
| Samuel G. Dawson | Director | 5,606 | May 27, 2026 |
| Linda B. Rutherford | Director | 0 | May 27, 2026 |
| Joseph A. Pierce | Director | 0 | May 27, 2026 |
| Howard Willome John | Director | 9,000 | May 27, 2026 |
| Esperanza Andrade | Director | 0 | May 27, 2026 |
| John T. Engates | Director | – | May 27, 2026 |
| Anthony R. Chase | Director | 1 | May 27, 2026 |
| Chris Avery | Director | 40,000 | May 1, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Carol Jean Severyn GEVP and Chief Risk Officer | Jun 12, 2026 | Sale | −837 | $148.29 | $124.12K | 12,712 |
| Crawford H. Edwards Director | Mar 9, 2026 | Gift | −750 | – | – | 50,732 |
| Coolidge E. Rhodes JR Group EVP General Counsel/Sec | Mar 6, 2026 | Other | −700 | $127.00 | $88.90K | 4,610 |
| Coolidge E. Rhodes JR Group EVP General Counsel/Sec | Mar 6, 2026 | Other | +700 | – | – | 5,310 |
| Phillip D. Green Chairman and CEO, Director | Feb 10, 2026 | Gift | −912 | – | – | 110,879 |
| Phillip D. Green Chairman and CEO, Director | Feb 5, 2026 | Returned to company | −3,601 | $143.60 | $517.10K | 111,791 |
| Phillip D. Green Chairman and CEO, Director | Feb 5, 2026 | Award | +9,124 | – | – | 115,392 |
| Carol Jean Severyn GEVP and Chief Risk Officer | Feb 5, 2026 | Returned to company | −700 | $143.60 | $100.52K | 13,549 |
| Carol Jean Severyn GEVP and Chief Risk Officer | Feb 5, 2026 | Award | +1,681 | – | – | 14,249 |
| Jimmy Stead GEVP Chief Consumer Banking | Feb 5, 2026 | Returned to company | −885 | $143.60 | $127.09K | 18,196 |
| Jimmy Stead GEVP Chief Consumer Banking | Feb 5, 2026 | Award | +2,155 | – | – | 19,081 |
| Coolidge E. Rhodes JR Group EVP General Counsel/Sec | Feb 5, 2026 | Returned to company | −716 | $143.60 | $102.82K | 4,610 |
| Coolidge E. Rhodes JR Group EVP General Counsel/Sec | Feb 5, 2026 | Award | +1,724 | – | – | 5,326 |
| Paul Bracher President of CFR | Feb 5, 2026 | Award | +2,299 | – | – | 109,619 |
| Paul Bracher President of CFR | Feb 5, 2026 | Returned to company | −940 | $143.60 | $134.98K | 108,679 |
| Bobby Berman GEVP Research & Strategy | Feb 5, 2026 | Award | +1,293 | – | – | 29,699 |
| Bobby Berman GEVP Research & Strategy | Feb 5, 2026 | Returned to company | −549 | $143.60 | $78.84K | 29,150 |
| Howard L. Kasanoff GEVP Chief Credit Officer | Feb 5, 2026 | Returned to company | −393 | $143.60 | $56.43K | 4,212 |
| Howard L. Kasanoff GEVP Chief Credit Officer | Feb 5, 2026 | Award | +882 | – | – | 4,605 |
| Annette M. Alonzo GEVP Chief HR Officer | Feb 5, 2026 | Award | +1,638 | – | – | 20,821 |
| Annette M. Alonzo GEVP Chief HR Officer | Feb 5, 2026 | Returned to company | −690 | $143.60 | $99.08K | 20,131 |
| Bobby Berman GEVP Research & Strategy | Jan 30, 2026 | Sale | −1,000 | $137.07 | $137.07K | 28,406 |
| Ericka Lynn Pullin GEVP, Culture & People Dev. | Dec 12, 2025 | Sale | −0.34 | $129.73 | $44 | 2,024 |
| Coolidge E. Rhodes JR Group EVP General Counsel/Sec | Dec 9, 2025 | Sale | −700 | $127.00 | $88.90K | 3,795 |
| Coolidge E. Rhodes JR Group EVP General Counsel/Sec | Dec 9, 2025 | Gift | −495 | – | – | 3,300 |
| Phillip D. Green Chairman and CEO, Director | Dec 5, 2025 | Gift | −2,892 | – | – | 105,296 |
| Coolidge E. Rhodes JR Group EVP General Counsel/Sec | Oct 25, 2025 | Option exercise | +2,097 | – | – | 5,320 |
| Coolidge E. Rhodes JR Group EVP General Counsel/Sec | Oct 25, 2025 | Tax withholding | −825 | $124.86 | $103.01K | 4,495 |
| Matthew Bradley Henson Chief Accounting Officer | Oct 25, 2025 | Option exercise | +419 | – | – | 419 |
| Matthew Bradley Henson Chief Accounting Officer | Oct 25, 2025 | Tax withholding | −102 | $124.86 | $12.74K | 317 |
| Bobby Berman GEVP Research & Strategy | Oct 25, 2025 | Tax withholding | −616 | $124.86 | $76.91K | 29,240 |
| Bobby Berman GEVP Research & Strategy | Oct 25, 2025 | Option exercise | +1,573 | – | – | 29,856 |
| Annette M. Alonzo GEVP Chief HR Officer | Oct 25, 2025 | Option exercise | +1,992 | – | – | 19,832 |
| Annette M. Alonzo GEVP Chief HR Officer | Oct 25, 2025 | Tax withholding | −783 | $124.86 | $97.77K | 19,049 |
| Paul Bracher President of CFR | Oct 25, 2025 | Option exercise | +2,796 | – | – | 108,064 |
| Paul Bracher President of CFR | Oct 25, 2025 | Tax withholding | −1,100 | $124.86 | $137.35K | 106,964 |
| Phillip D. Green Chairman and CEO, Director | Oct 25, 2025 | Option exercise | +11,097 | – | – | 112,554 |
| Phillip D. Green Chairman and CEO, Director | Oct 25, 2025 | Tax withholding | −4,366 | $124.86 | $545.14K | 108,188 |
| Dan Geddes GEVP & Chief Financial Officer | Oct 25, 2025 | Option exercise | +1,049 | – | – | 3,413 |
| Dan Geddes GEVP & Chief Financial Officer | Oct 25, 2025 | Tax withholding | −255 | $124.86 | $31.84K | 3,158 |
| Jimmy Stead GEVP Chief Consumer Banking | Oct 25, 2025 | Option exercise | +2,621 | – | – | 17,639 |
| Jimmy Stead GEVP Chief Consumer Banking | Oct 25, 2025 | Tax withholding | −1,031 | $124.86 | $128.73K | 16,608 |
| Carol Jean Severyn GEVP and Chief Risk Officer | Oct 25, 2025 | Option exercise | +2,045 | – | – | 13,146 |
| Carol Jean Severyn GEVP and Chief Risk Officer | Oct 25, 2025 | Tax withholding | −804 | $124.86 | $100.39K | 12,342 |
| Howard L. Kasanoff GEVP Chief Credit Officer | Oct 25, 2025 | Option exercise | +1,073 | – | – | 4,043 |
| Howard L. Kasanoff GEVP Chief Credit Officer | Oct 25, 2025 | Tax withholding | −422 | $124.86 | $52.69K | 3,621 |
| Ericka Lynn Pullin GEVP, Culture & People Dev. | Oct 25, 2025 | Tax withholding | −93 | $124.86 | $11.61K | 2,025 |
| Ericka Lynn Pullin GEVP, Culture & People Dev. | Oct 25, 2025 | Option exercise | +384 | – | – | 2,118 |
| Carol Jean Severyn GEVP and Chief Risk Officer | Aug 22, 2025 | Gift | −1,000 | – | – | 11,101 |
| Matthew Bradley Henson Chief Accounting Officer | May 2, 2025 | Buy | +1,870 | $16.93 | $31.66K | 5,545 |
| Phillip D. Green Chairman and CEO, Director | Feb 11, 2025 | Gift | −3,111 | – | – | 101,457 |
| Coolidge E. Rhodes JR Group EVP General Counsel/Sec | Feb 6, 2025 | Award | +2,625 | – | – | 4,299 |
| Coolidge E. Rhodes JR Group EVP General Counsel/Sec | Feb 6, 2025 | Returned to company | −1,076 | $141.08 | $151.80K | 3,223 |
| Jimmy Stead GEVP Chief Consumer Banking | Feb 6, 2025 | Returned to company | −1,501 | $141.08 | $211.76K | 15,018 |
| Jimmy Stead GEVP Chief Consumer Banking | Feb 6, 2025 | Award | +3,705 | – | – | 16,519 |
| Bobby Berman GEVP Research & Strategy | Feb 6, 2025 | Award | +2,007 | – | – | 28,820 |
| Bobby Berman GEVP Research & Strategy | Feb 6, 2025 | Returned to company | −537 | $141.08 | $75.76K | 28,283 |
| Carol Jean Severyn GEVP and Chief Risk Officer | Feb 6, 2025 | Returned to company | −1,065 | $141.08 | $150.25K | 12,101 |
| Carol Jean Severyn GEVP and Chief Risk Officer | Feb 6, 2025 | Award | +2,594 | – | – | 13,166 |
| Candace K. Wolfshohl GEVP Culture/PeopleDevelopment | Feb 6, 2025 | Returned to company | −892 | $141.08 | $125.84K | 22,159 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Carol Jean Severyn Officer | Jun 12, 2026 | 837 | $124.12K | Jun 12, 2026 | Restricted Stock Vesting |
| Coolidge E. Rhodes JR Officer | Mar 6, 2026 | 700 | $88.90K | Mar 6, 2026 | Restricted Stock Vesting |
| Bobby Berman Officer | Jan 30, 2026 | 1,000 | $137.07K | Jan 30, 2026 | Compensation |
| Candace K. Wolfshohl Officer | May 19, 2025 | 7,670 | $1.01M | May 19, 2025 | Stock Options |
| Paul Bracher Officer | Jan 31, 2025 | 11,500 | $1.60M | Jan 31, 2025 | Stock Options |
| Phillip D. Green Officer | Nov 19, 2024 | 34,505 | $4.76M | Nov 19, 2024 | Stock Option Exercise |
| Howard L. Kasanoff Officer | Nov 8, 2024 | 4,000 | $574.64K | Nov 8, 2024 | Stock Option Exercise |
| Bobby Berman Officer | Nov 1, 2024 | 3,506 | $446.49K | Nov 1, 2024 | Stock Award |
| Howard L. Kasanoff Officer | Jul 31, 2024 | 3,000 | $358.89K | Jul 30, 2024 | Stock Option Exercise |
| Candace K. Wolfshohl Officer | Jul 26, 2024 | 5,000 | $597.72K | Jul 26, 2024 | Stock Options |
| Patrick B. Frost Director | May 14, 2024 | 9,820 | $1.06M | May 14, 2024 | Stock Options |
| Bobby Berman Officer | Mar 14, 2024 | 1,312 | $141.39K | Mar 14, 2024 | Stock Award |
| Paul Bracher Officer | Feb 16, 2024 | 9,820 | $1.07M | Feb 16, 2024 | Stock Options |
| Patrick B. Frost Director | May 19, 2023 | 6,617 | $668.01K | May 19, 2023 | Stock Options |