Rafferty Asset Management LLC Has $9.76 Million Holdings in Cullen/Frost Bankers, Inc. $CFR

Rafferty Asset Management LLC grew its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 16.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 76,964 shares of the bank’s stock after acquiring an additional 10,727 shares during the period. Rafferty Asset Management LLC owned 0.12% of Cullen/Frost Bankers worth $9,757,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Argent Trust Co grew its position in Cullen/Frost Bankers by 3.0% during the 3rd quarter. Argent Trust Co now owns 53,511 shares of the bank’s stock worth $6,784,000 after acquiring an additional 1,569 shares during the last quarter. Quantbot Technologies LP bought a new position in Cullen/Frost Bankers in the third quarter valued at about $4,399,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Cullen/Frost Bankers during the third quarter valued at about $286,000. Handelsbanken Fonder AB boosted its stake in shares of Cullen/Frost Bankers by 26.3% during the third quarter. Handelsbanken Fonder AB now owns 18,716 shares of the bank’s stock valued at $2,373,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Cullen/Frost Bankers during the third quarter worth about $922,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 4.1%

CFR opened at $138.15 on Monday. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $148.97. The company has a fifty day moving average of $138.00 and a 200-day moving average of $130.28. The stock has a market cap of $8.73 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 5.08 and a beta of 0.63. 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 (NYSE:CFR) last released its 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. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. The business had revenue of $562.58 million for the quarter, compared to analyst estimates of $578.05 million. During the same quarter in the previous year, the business earned $2.36 earnings per share. On average, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, February 27th. Cullen/Frost Bankers’s payout ratio is currently 40.32%.

Insider Activity

In other Cullen/Frost Bankers news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was 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 of the company’s stock, valued at approximately $481,965. The trade was a 15.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bobby Berman sold 1,000 shares of the 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. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,700 shares of company stock worth $225,970. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CFR shares. Barclays upped their price objective on Cullen/Frost Bankers from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Royal Bank Of Canada boosted their target price on shares of Cullen/Frost Bankers from $144.00 to $150.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cullen/Frost Bankers in a research note on Monday, December 29th. TD Cowen reiterated a “positive” rating on shares of Cullen/Frost Bankers in a report on Monday, February 2nd. Finally, DA Davidson boosted 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 note on Friday, January 30th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus price target of $140.92.

About Cullen/Frost Bankers

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.