Illinois Municipal Retirement Fund Buys 6,681 Shares of Cullen/Frost Bankers, Inc. $CFR

Illinois Municipal Retirement Fund lifted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 116.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,428 shares of the bank’s stock after acquiring an additional 6,681 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cullen/Frost Bankers were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Cullen/Frost Bankers by 61.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after purchasing an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cullen/Frost Bankers by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock valued at $20,896,000 after purchasing an additional 15,063 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Cullen/Frost Bankers by 40.8% during the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after buying an additional 106 shares during the period. CWM LLC increased its position in shares of Cullen/Frost Bankers by 4.1% during the second quarter. CWM LLC now owns 4,928 shares of the bank’s stock worth $633,000 after buying an additional 192 shares during the period. Finally, Stephens Inc. AR raised its stake in Cullen/Frost Bankers by 33.0% during the second quarter. Stephens Inc. AR now owns 6,911 shares of the bank’s stock worth $888,000 after buying an additional 1,715 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Trading Down 0.2%

NYSE CFR opened at $144.17 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $148.97. The business has a 50 day moving average price of $135.79 and a 200-day moving average price of $129.21. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 5.32 and a beta of 0.65.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.09. The business had revenue of $562.58 million during 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 quarter last year, the firm posted $2.36 EPS. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on CFR shares. Loop Capital set a $160.00 price target on shares of Cullen/Frost Bankers in a research report on Monday, February 2nd. Citigroup upped their target price on Cullen/Frost Bankers from $114.00 to $125.00 and gave the company a “sell” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cullen/Frost Bankers in a research note on Monday, December 29th. TD Cowen reissued a “positive” rating on shares of Cullen/Frost Bankers in a research note on Monday, February 2nd. Finally, DA Davidson raised their price objective on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $140.92.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,000 shares of the firm’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 transaction, the executive vice president owned 28,406 shares in the company, valued at $3,893,610.42. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Coolidge E. Rhodes, Jr. sold 700 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total value of $88,900.00. Following the transaction, the executive vice president directly owned 3,795 shares in the company, valued at approximately $481,965. The trade was a 15.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,700 shares of company stock worth $225,970 in the last 90 days. 2.89% of the stock is currently owned by company insiders.

Cullen/Frost Bankers 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.