Alberta Investment Management Corp Increases Position in Cullen/Frost Bankers, Inc. $CFR

Alberta Investment Management Corp raised its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 10.0% during the third quarter, HoldingsChannel reports. The firm owned 330,000 shares of the bank’s stock after purchasing an additional 30,000 shares during the period. Cullen/Frost Bankers makes up approximately 0.4% of Alberta Investment Management Corp’s holdings, making the stock its 25th biggest holding. Alberta Investment Management Corp’s holdings in Cullen/Frost Bankers were worth $41,834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Cullen/Frost Bankers by 3,892.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 100,368 shares of the bank’s stock valued at $12,901,000 after buying an additional 97,854 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Cullen/Frost Bankers by 62.0% in the third quarter. Cullen Frost Bankers Inc. now owns 38,734 shares of the bank’s stock worth $4,910,000 after buying an additional 14,831 shares in the last quarter. Legal & General Group Plc grew its position in Cullen/Frost Bankers by 3.4% during the second quarter. Legal & General Group Plc now owns 100,690 shares of the bank’s stock valued at $12,943,000 after acquiring an additional 3,313 shares during the last quarter. Truist Financial Corp raised its stake in shares of Cullen/Frost Bankers by 21.8% during the third quarter. Truist Financial Corp now owns 40,306 shares of the bank’s stock worth $5,110,000 after acquiring an additional 7,217 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Cullen/Frost Bankers by 30.2% during the second quarter. Russell Investments Group Ltd. now owns 102,234 shares of the bank’s stock worth $13,141,000 after acquiring an additional 23,714 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CFR. Weiss Ratings reissued a “hold (c)” rating on shares of Cullen/Frost Bankers in a research note on Monday, December 29th. DA Davidson lifted their price objective on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Barclays upped their target price on Cullen/Frost Bankers from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Citigroup raised their price target on Cullen/Frost Bankers from $114.00 to $125.00 and gave the stock a “sell” rating in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada boosted their price objective on shares of Cullen/Frost Bankers from $144.00 to $150.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $140.92.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $137.07, for a total value of $137,070.00. Following the sale, the executive vice president directly owned 28,406 shares of the company’s stock, valued at $3,893,610.42. The trade was a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $127.00, for a total value of $88,900.00. Following the completion of the sale, the executive vice president owned 3,795 shares in the company, valued at $481,965. The trade was a 15.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,700 shares of company stock valued at $225,970 over the last quarter. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of CFR stock opened at $144.46 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.05. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 5.31 and a beta of 0.65. The business’s fifty day moving average is $136.08 and its 200 day moving average is $129.32. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $148.97.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The firm had revenue of $562.58 million for the quarter, compared to the consensus estimate of $578.05 million. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. During the same period in the prior year, the firm earned $2.36 EPS. Research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 40.32%.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.