Arizona State Retirement System raised its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,190 shares of the bank’s stock after purchasing an additional 643 shares during the quarter. Arizona State Retirement System’s holdings in Cullen/Frost Bankers were worth $2,298,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Jacobs Asset Management LLC boosted its stake in shares of Cullen/Frost Bankers by 155.6% during the 4th quarter. Jacobs Asset Management LLC now owns 57,500 shares of the bank’s stock worth $7,688,000 after acquiring an additional 35,000 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Cullen/Frost Bankers by 10.5% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 55,944 shares of the bank’s stock worth $7,480,000 after acquiring an additional 5,300 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth about $3,230,000. Commonwealth Equity Services LLC boosted its stake in shares of Cullen/Frost Bankers by 1.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 44,841 shares of the bank’s stock worth $5,995,000 after acquiring an additional 668 shares in the last quarter. Finally, Edge Capital Group LLC raised its position in shares of Cullen/Frost Bankers by 4.6% during the 4th quarter. Edge Capital Group LLC now owns 2,385 shares of the bank’s stock worth $319,000 after purchasing an additional 104 shares during the last quarter. 81.93% of the stock is owned by hedge funds and other institutional investors.
Cullen/Frost Bankers Stock Down 1.4 %
Shares of NYSE CFR opened at $96.10 on Wednesday. The company has a 50 day simple moving average of $107.60 and a 200-day simple moving average of $126.96. The company has a market capitalization of $6.19 billion, a P/E ratio of 9.60, a P/E/G ratio of 1.05 and a beta of 1.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.58 and a quick ratio of 0.58. Cullen/Frost Bankers, Inc. has a 1 year low of $92.55 and a 1 year high of $160.60.
Cullen/Frost Bankers Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.62%. Cullen/Frost Bankers’s payout ratio is currently 34.77%.
Insider Buying and Selling
In related news, insider Paul Bracher sold 5,848 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $130.97, for a total transaction of $765,912.56. Following the completion of the transaction, the insider now owns 92,834 shares of the company’s stock, valued at approximately $12,158,468.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cullen/Frost Bankers news, insider Paul Bracher sold 5,848 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $130.97, for a total value of $765,912.56. Following the completion of the transaction, the insider now owns 92,834 shares of the company’s stock, valued at approximately $12,158,468.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phillip D. Green purchased 9,500 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $106.59 per share, with a total value of $1,012,605.00. Following the transaction, the chief executive officer now directly owns 114,729 shares in the company, valued at $12,228,964.11. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 18,200 shares of company stock valued at $1,932,626. Company insiders own 2.89% of the company’s stock.
Wall Street Analyst Weigh In
CFR has been the subject of several research analyst reports. Truist Financial reduced their price target on shares of Cullen/Frost Bankers from $136.00 to $114.00 and set a “hold” rating for the company in a research report on Thursday, March 23rd. StockNews.com initiated coverage on shares of Cullen/Frost Bankers in a research report on Thursday, March 16th. They set a “sell” rating for the company. JPMorgan Chase & Co. cut their price objective on shares of Cullen/Frost Bankers from $155.00 to $123.00 in a report on Thursday, April 6th. Raymond James downgraded shares of Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 21st. Finally, UBS Group initiated coverage on shares of Cullen/Frost Bankers in a report on Wednesday, March 15th. They issued a “sell” rating and a $107.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $134.69.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding company, which engages in the provision of commercial and consumer banking services. It operates through the Banking and Frost Wealth Advisors segments. The Banking segment operates commercial and consumer banking services. The Frost Wealth Advisors segment includes fee-based services within private trust, retirement services, and financial management services.
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