Alberta Investment Management Corp Has $41.83 Million Stock Position in Cullen/Frost Bankers, Inc. $CFR

Alberta Investment Management Corp raised its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 10.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 330,000 shares of the bank’s stock after acquiring an additional 30,000 shares during the period. Cullen/Frost Bankers makes up about 0.4% of Alberta Investment Management Corp’s holdings, making the stock its 25th largest position. Alberta Investment Management Corp owned 0.52% of Cullen/Frost Bankers worth $41,834,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its position in shares of Cullen/Frost Bankers by 3,892.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 100,368 shares of the bank’s stock valued at $12,901,000 after acquiring an additional 97,854 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Cullen/Frost Bankers by 62.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 38,734 shares of the bank’s stock worth $4,910,000 after purchasing an additional 14,831 shares during the period. Legal & General Group Plc boosted its holdings in shares of Cullen/Frost Bankers by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 100,690 shares of the bank’s stock worth $12,943,000 after buying an additional 3,313 shares during the last quarter. Truist Financial Corp grew its position in Cullen/Frost Bankers by 21.8% during the third quarter. Truist Financial Corp now owns 40,306 shares of the bank’s stock valued at $5,110,000 after buying an additional 7,217 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Cullen/Frost Bankers by 30.2% during the second quarter. Russell Investments Group Ltd. now owns 102,234 shares of the bank’s stock worth $13,141,000 after buying an additional 23,714 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $144.46 on Thursday. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $148.97. The stock’s 50-day simple moving average is $136.08 and its 200 day simple moving average is $129.32. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 5.31 and a beta of 0.65.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.09. The firm had revenue of $562.58 million for the quarter, compared to analysts’ expectations of $578.05 million. Cullen/Frost Bankers had a return on equity of 15.49% and a net margin of 22.21%.During the same period in the prior year, the business posted $2.36 earnings per share. Research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, February 27th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 40.32%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CFR. Royal Bank Of Canada boosted their target price on shares of Cullen/Frost Bankers from $144.00 to $150.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. DA Davidson lifted their price target on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Loop Capital set a $160.00 price objective on Cullen/Frost Bankers in a report on Monday, February 2nd. Keefe, Bruyette & Woods boosted their target price on Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, Barclays lifted their price objective on Cullen/Frost Bankers from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $140.92.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $127.00, for a total transaction of $88,900.00. Following the completion of the transaction, the executive vice president 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bobby Berman sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $137.07, for a total transaction of $137,070.00. Following the completion of the transaction, the executive vice president owned 28,406 shares in the company, valued at approximately $3,893,610.42. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,700 shares of company stock valued at $225,970 in the last three months. 2.89% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Company Profile

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.