South Dakota Investment Council Acquires 4,200 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

South Dakota Investment Council lifted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,306 shares of the bank’s stock after buying an additional 4,200 shares during the period. South Dakota Investment Council owned about 0.15% of Cullen/Frost Bankers worth $10,231,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CFR. First National Bank of Hutchinson boosted its stake in shares of Cullen/Frost Bankers by 1.7% during the 3rd quarter. First National Bank of Hutchinson now owns 7,432 shares of the bank’s stock worth $678,000 after purchasing an additional 121 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of Cullen/Frost Bankers by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 25,995 shares of the bank’s stock worth $2,371,000 after purchasing an additional 130 shares during the period. Cardinal Capital Management boosted its stake in shares of Cullen/Frost Bankers by 1.3% during the 4th quarter. Cardinal Capital Management now owns 10,459 shares of the bank’s stock worth $1,135,000 after purchasing an additional 130 shares during the period. Tributary Capital Management LLC boosted its stake in shares of Cullen/Frost Bankers by 2.0% during the 4th quarter. Tributary Capital Management LLC now owns 7,395 shares of the bank’s stock worth $802,000 after purchasing an additional 147 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Cullen/Frost Bankers by 18.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 981 shares of the bank’s stock worth $106,000 after purchasing an additional 154 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Up 1.8 %

Shares of NYSE CFR traded up $2.05 during trading hours on Wednesday, hitting $116.50. 328,066 shares of the stock were exchanged, compared to its average volume of 409,189. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06. The company has a market cap of $7.48 billion, a PE ratio of 12.72, a PEG ratio of 1.40 and a beta of 1.03. The firm has a fifty day moving average price of $108.77 and a 200-day moving average price of $103.40. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $2.18 EPS for the quarter, topping the consensus estimate of $2.01 by $0.17. The firm had revenue of $523.66 million during the quarter, compared to analyst estimates of $498.09 million. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.49 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.68 dividend on an annualized basis and a yield of 3.16%. Cullen/Frost Bankers’s payout ratio is 40.44%.

Analyst Ratings Changes

A number of research firms recently commented on CFR. Jefferies Financial Group lifted their price target on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. DA Davidson reissued a “buy” rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Morgan Stanley boosted their price objective on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Evercore ISI boosted their price objective on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an “underperform” rating in a research report on Thursday, March 28th. Finally, Compass Point cut shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $117.92.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at approximately $10,543,972. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at $10,543,972. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.