Strategic Financial Concepts LLC boosted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 13,334.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 281,860 shares of the bank's stock after purchasing an additional 279,762 shares during the period. Strategic Financial Concepts LLC owned about 0.44% of Cullen/Frost Bankers worth $37,840,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of Cullen/Frost Bankers by 30.3% in the 3rd quarter. Tidal Investments LLC now owns 18,689 shares of the bank's stock worth $2,091,000 after buying an additional 4,348 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Cullen/Frost Bankers by 45.0% in the third quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank's stock valued at $2,156,000 after acquiring an additional 5,981 shares during the last quarter. Barclays PLC grew its position in shares of Cullen/Frost Bankers by 234.5% during the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank's stock valued at $48,814,000 after acquiring an additional 305,921 shares during the period. Raymond James & Associates increased its stake in shares of Cullen/Frost Bankers by 10.0% during the 3rd quarter. Raymond James & Associates now owns 119,447 shares of the bank's stock worth $13,361,000 after purchasing an additional 10,884 shares during the last quarter. Finally, Hancock Whitney Corp bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $784,000. Hedge funds and other institutional investors own 86.90% of the company's stock.
NYSE:CFR opened at $140.68 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $147.64. The stock has a market cap of $9.02 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. The firm's fifty day simple moving average is $137.57 and its 200 day simple moving average is $125.49.
Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 16.04%. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.66 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.80 annualized dividend and a yield of 2.70%. Cullen/Frost Bankers's payout ratio is 42.84%.
Several equities analysts have weighed in on CFR shares. Compass Point increased their price objective on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Maxim Group boosted their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Stephens increased their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. Royal Bank of Canada reissued a "sector perform" rating and issued a $144.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Finally, Citigroup raised their price objective on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a "sell" rating in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $130.31.
Read Our Latest Analysis on Cullen/Frost Bankers
In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the completion of the transaction, the insider now owns 102,946 shares of the company's stock, valued at approximately $14,355,819.70. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phillip D. Green sold 14,358 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
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.
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