Cullen/Frost Bankers, Inc. (NYSE:CFR) Stock Position Increased by Cardinal Capital Management

Cardinal Capital Management lifted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 27.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,338 shares of the bank’s stock after purchasing an additional 2,879 shares during the period. Cardinal Capital Management’s holdings in Cullen/Frost Bankers were worth $1,501,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CFR. ICA Group Wealth Management LLC purchased a new stake in Cullen/Frost Bankers in the 4th quarter worth about $33,000. Arvest Investments Inc. purchased a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth about $35,000. CWM LLC raised its stake in shares of Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at about $43,000. Finally, Parallel Advisors LLC increased its holdings in shares of Cullen/Frost Bankers by 89.7% during the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after acquiring an additional 218 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Up 0.4 %

NYSE CFR opened at $99.40 on Friday. The business has a fifty day moving average price of $103.25 and a two-hundred day moving average price of $105.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. Cullen/Frost Bankers, Inc. has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. The stock has a market capitalization of $6.39 billion, a PE ratio of 11.75, a PEG ratio of 1.24 and a beta of 1.02.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. The company had revenue of $522.74 million during the quarter, compared to analysts’ expectations of $510.09 million. During the same period in the prior year, the company earned $2.70 EPS. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.42 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.68 dividend on an annualized basis and a yield of 3.70%. Cullen/Frost Bankers’s payout ratio is currently 43.50%.

Analyst Ratings Changes

A number of research analysts have recently commented on CFR shares. Jefferies Financial Group increased their price objective on Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a report on Monday, April 8th. Evercore ISI lowered their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a report on Tuesday. StockNews.com raised Cullen/Frost Bankers to a “sell” rating in a report on Saturday, May 4th. Truist Financial lowered their target price on Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, April 29th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $126.00 target price on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and an average price target of $115.69.

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.