Retirement Systems of Alabama boosted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 0.7% during the first quarter, Holdings Channel.com reports. The fund owned 74,766 shares of the bank’s stock after acquiring an additional 512 shares during the quarter. Retirement Systems of Alabama’s holdings in Cullen/Frost Bankers were worth $10,348,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hilton Capital Management LLC grew its holdings in Cullen/Frost Bankers by 4.7% during the 4th quarter. Hilton Capital Management LLC now owns 2,055 shares of the bank’s stock valued at $259,000 after buying an additional 93 shares in the last quarter. State of Michigan Retirement System grew its holdings in Cullen/Frost Bankers by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,329 shares of the bank’s stock valued at $1,806,000 after buying an additional 100 shares in the last quarter. Bank of Montreal Can grew its holdings in Cullen/Frost Bankers by 0.9% during the 4th quarter. Bank of Montreal Can now owns 15,428 shares of the bank’s stock valued at $1,970,000 after buying an additional 134 shares in the last quarter. Telemus Capital LLC grew its holdings in Cullen/Frost Bankers by 2.5% during the 4th quarter. Telemus Capital LLC now owns 6,606 shares of the bank’s stock valued at $833,000 after buying an additional 158 shares in the last quarter. Finally, Wedbush Securities Inc. grew its holdings in Cullen/Frost Bankers by 6.4% during the 4th quarter. Wedbush Securities Inc. now owns 2,790 shares of the bank’s stock valued at $352,000 after buying an additional 167 shares in the last quarter. 81.69% of the stock is owned by institutional investors and hedge funds.
In other Cullen/Frost Bankers news, Director Chris Avery bought 5,000 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was acquired at an average cost of $131.55 per share, for a total transaction of $657,750.00. Following the completion of the transaction, the director now owns 17,000 shares in the company, valued at $2,236,350. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.76% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Cullen/Frost Bankers from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $143.00 to $155.00 in a report on Wednesday, June 15th. Wolfe Research cut their price objective on shares of Cullen/Frost Bankers from $161.00 to $132.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Raymond James raised shares of Cullen/Frost Bankers from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a report on Wednesday, April 6th. Truist Financial cut their target price on shares of Cullen/Frost Bankers from $149.00 to $134.00 in a report on Wednesday, June 15th. Finally, StockNews.com started coverage on shares of Cullen/Frost Bankers in a report on Thursday, March 31st. They issued a “sell” rating for the company. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $139.60.
Shares of CFR opened at $118.23 on Tuesday. The company has a market cap of $7.58 billion, a PE ratio of 18.19, a P/E/G ratio of 1.64 and a beta of 1.20. The business has a fifty day moving average of $123.28 and a 200 day moving average of $132.75. Cullen/Frost Bankers, Inc. has a 52-week low of $100.35 and a 52-week high of $147.39. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.06.
Cullen/Frost Bankers (NYSE:CFR – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.02. The company had revenue of $373.58 million during the quarter, compared to the consensus estimate of $364.93 million. Cullen/Frost Bankers had a return on equity of 10.40% and a net margin of 30.15%. During the same period last year, the company earned $1.77 earnings per share. As a group, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 7.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $3.00 annualized dividend and a dividend yield of 2.54%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 46.15%.
Cullen/Frost Bankers Profile (Get Rating)
Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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