Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Acquired by Cardinal Capital Management

Cardinal Capital Management grew its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,459 shares of the bank’s stock after acquiring an additional 130 shares during the quarter. Cardinal Capital Management’s holdings in Cullen/Frost Bankers were worth $1,135,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in Cullen/Frost Bankers during the 4th quarter worth $26,000. Macquarie Group Ltd. acquired a new position in Cullen/Frost Bankers during the first quarter worth about $25,000. ICA Group Wealth Management LLC purchased a new stake in Cullen/Frost Bankers during the 4th quarter valued at about $36,000. NBC Securities Inc. acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $27,000. Finally, Covestor Ltd lifted its stake in Cullen/Frost Bankers by 80.7% in the 1st quarter. Covestor Ltd now owns 309 shares of the bank’s stock worth $43,000 after purchasing an additional 138 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Down 1.1 %

Shares of Cullen/Frost Bankers stock traded down $1.25 during trading hours on Thursday, hitting $108.55. The company had a trading volume of 119,419 shares, compared to its average volume of 410,763. The company’s 50-day moving average is $107.76 and its two-hundred day moving average is $102.21. Cullen/Frost Bankers, Inc. has a twelve month low of $82.25 and a twelve month high of $120.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $6.97 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 1.40 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, January 25th. The bank reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.17. The business had revenue of $523.66 million during the quarter, compared to the consensus estimate of $498.09 million. Cullen/Frost Bankers had a return on equity of 19.66% and a net margin of 22.60%. Analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.46 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.68 annualized dividend and a dividend yield of 3.39%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 40.44%.

Insider Buying and Selling

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

Analyst Ratings Changes

CFR has been the subject of several recent research reports. DA Davidson reaffirmed a “buy” rating and issued a $126.00 price target on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Compass Point cut shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Morgan Stanley raised their price objective on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Stephens boosted their price target on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Finally, Truist Financial upped their target price 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. Three 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $117.92.

About Cullen/Frost Bankers

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.