Strs Ohio Raises Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Strs Ohio boosted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,700 shares of the bank’s stock after acquiring an additional 4,800 shares during the period. Strs Ohio owned 0.09% of Cullen/Frost Bankers worth $6,042,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Keene & Associates Inc. lifted its position in Cullen/Frost Bankers by 12.4% during the fourth quarter. Keene & Associates Inc. now owns 5,829 shares of the bank’s stock valued at $632,000 after purchasing an additional 645 shares during the last quarter. Capital Advisors Inc. OK bought a new stake in Cullen/Frost Bankers during the fourth quarter valued at approximately $234,000. Louisiana State Employees Retirement System bought a new stake in Cullen/Frost Bankers during the fourth quarter valued at approximately $1,953,000. WCM Investment Management LLC bought a new stake in Cullen/Frost Bankers during the fourth quarter valued at approximately $265,000. Finally, Sprucegrove Investment Management Ltd. lifted its position in Cullen/Frost Bankers by 2.1% during the fourth quarter. Sprucegrove Investment Management Ltd. now owns 153,877 shares of the bank’s stock valued at $16,694,000 after purchasing an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Evercore ISI boosted their price objective on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an “underperform” rating in a report on Thursday, March 28th. Jefferies Financial Group boosted their price objective on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a report on Monday, April 8th. UBS Group boosted their price objective on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Finally, Compass Point lowered shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $117.92.

Cullen/Frost Bankers Stock Up 1.7 %

Shares of NYSE CFR opened at $109.11 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 52 week low of $82.25 and a 52 week high of $120.31. The firm’s fifty day moving average is $108.46 and its 200 day moving average is $102.87. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.33 and a beta of 1.03.

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

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Wednesday, February 28th. Cullen/Frost Bankers’s payout ratio is currently 40.44%.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the sale, the executive vice president now directly owns 27,815 shares in the company, valued at $2,934,204.35. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers 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.