State of Alaska Department of Revenue Buys 500 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

State of Alaska Department of Revenue boosted its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 7.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,459 shares of the bank’s stock after acquiring an additional 500 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cullen/Frost Bankers were worth $834,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Champlain Investment Partners LLC lifted its position in Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after acquiring an additional 495,215 shares in the last quarter. Janus Henderson Group PLC lifted its position in Cullen/Frost Bankers by 18.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after acquiring an additional 161,580 shares in the last quarter. Boston Trust Walden Corp bought a new stake in Cullen/Frost Bankers in the 3rd quarter valued at $107,166,000. Dimensional Fund Advisors LP lifted its position in Cullen/Frost Bankers by 14.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock valued at $96,856,000 after acquiring an additional 120,333 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Cullen/Frost Bankers by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 648,922 shares of the bank’s stock valued at $65,950,000 after acquiring an additional 2,420 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Stock Up 2.2 %

Shares of CFR opened at $127.64 on Wednesday. Cullen/Frost Bankers, Inc. has a 52 week low of $91.24 and a 52 week high of $135.00. The firm has a market cap of $8.17 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. The firm’s 50-day simple moving average is $116.22 and its 200 day simple moving average is $109.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the prior year, the business earned $2.38 EPS. Cullen/Frost Bankers’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.61 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.98%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CFR shares. Wedbush lowered their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Maxim Group lifted their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Morgan Stanley lowered their price target on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research note on Monday, September 30th. Finally, Truist Financial lowered their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus price target of $123.86.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at $3,367,550.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is 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.