Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,924 shares of the bank’s stock after purchasing an additional 654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cullen/Frost Bankers were worth $1,222,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CFR. Champlain Investment Partners LLC boosted its holdings in Cullen/Frost Bankers by 7.7% in the third quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock valued at $381,897,000 after acquiring an additional 244,445 shares during the last quarter. Montrusco Bolton Investments Inc. grew its holdings in shares of Cullen/Frost Bankers by 10.2% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock worth $135,252,000 after purchasing an additional 111,719 shares during the period. Boston Trust Walden Corp purchased a new stake in shares of Cullen/Frost Bankers during the 3rd quarter worth about $107,166,000. Dimensional Fund Advisors LP increased its position in Cullen/Frost Bankers by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after purchasing an additional 120,333 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Cullen/Frost Bankers by 3.3% during the third quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank’s stock valued at $90,185,000 after buying an additional 25,909 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CFR. Evercore ISI lowered their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Citigroup raised their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday, November 4th. Truist Financial decreased their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a report on Friday, September 20th. Keefe, Bruyette & Woods lifted their price objective on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Stephens upped their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average price target of $125.43.

Cullen/Frost Bankers Price Performance

Shares of CFR opened at $138.18 on Friday. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.68 and a beta of 0.99. The stock has a 50 day moving average of $129.25 and a 200-day moving average of $114.19.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the previous year, the firm earned $2.38 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.73 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. The trade was a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the sale, the executive vice president now owns 2,888 shares in the company, valued at $399,525.92. The trade was a 58.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,864 shares of company stock valued at $2,977,033. Insiders own 2.89% of the company’s stock.

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.