Sprucegrove Investment Management Ltd. Sells 72,592 Shares of Cullen/Frost Bankers, Inc. $CFR

Sprucegrove Investment Management Ltd. decreased its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 63.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,038 shares of the bank’s stock after selling 72,592 shares during the period. Cullen/Frost Bankers makes up 0.6% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 20th biggest position. Sprucegrove Investment Management Ltd.’s holdings in Cullen/Frost Bankers were worth $5,197,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $26,000. GoalVest Advisory LLC bought a new position in shares of Cullen/Frost Bankers during the third quarter worth approximately $28,000. Advisory Services Network LLC acquired a new stake in shares of Cullen/Frost Bankers in the third quarter valued at approximately $28,000. Blue Trust Inc. boosted its stake in shares of Cullen/Frost Bankers by 252.1% in the fourth quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock valued at $33,000 after buying an additional 184 shares during the period. Finally, Community Bank N.A. bought a new stake in shares of Cullen/Frost Bankers in the third quarter valued at approximately $35,000. Institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CFR shares. Barclays increased their target price on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. Loop Capital set a $160.00 price objective on shares of Cullen/Frost Bankers in a research report on Monday, February 2nd. Morgan Stanley reduced their price objective on shares of Cullen/Frost Bankers from $143.00 to $133.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 31st. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average price target of $144.58.

Cullen/Frost Bankers Trading Up 0.9%

Shares of CFR opened at $140.49 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers, Inc. has a 52-week low of $119.00 and a 52-week high of $148.97. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 3.80 and a beta of 0.58. The business’s fifty day moving average is $138.85 and its 200-day moving average is $133.76.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $587.29 million. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.During the same period in the prior year, the company earned $2.30 EPS. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.36 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $1.03 per share. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, May 29th. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. Cullen/Frost Bankers’s payout ratio is presently 38.95%.

Cullen/Frost Bankers Company Profile

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.