Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Purchased by South Dakota Investment Council

South Dakota Investment Council boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,306 shares of the bank’s stock after acquiring an additional 4,200 shares during the period. South Dakota Investment Council’s holdings in Cullen/Frost Bankers were worth $10,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $27,000. Arvest Investments Inc. acquired a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth about $35,000. GAMMA Investing LLC acquired a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth about $43,000. Signaturefd LLC boosted its stake in shares of Cullen/Frost Bankers by 87.8% during the 4th quarter. Signaturefd LLC now owns 706 shares of the bank’s stock worth $77,000 after purchasing an additional 330 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Cullen/Frost Bankers by 60.7% during the 3rd quarter. Covestor Ltd now owns 911 shares of the bank’s stock worth $83,000 after purchasing an additional 344 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CFR shares. Truist Financial raised their price target on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. Jefferies Financial Group increased 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. DA Davidson reiterated a “buy” rating and set a $126.00 price objective on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Stephens increased their price objective on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $117.92.

Cullen/Frost Bankers Stock Up 1.8 %

Shares of CFR traded up $2.05 during mid-day trading on Wednesday, reaching $116.50. 328,066 shares of the stock traded hands, compared to its average volume of 409,189. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.40 and a beta of 1.03. The stock has a fifty day simple moving average of $108.77 and a 200 day simple moving average of $103.40. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $120.31. 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 (NYSE:CFR) last posted 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 company had revenue of $523.66 million for 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%. Sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.49 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 dividend yield of 3.16%. The ex-dividend date was Wednesday, February 28th. Cullen/Frost Bankers’s payout ratio is currently 40.44%.

Insider Transactions at Cullen/Frost Bankers

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