State of Alaska Department of Revenue Acquires 500 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

State of Alaska Department of Revenue boosted its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,459 shares of the bank’s stock after purchasing an additional 500 shares during the period. State of Alaska Department of Revenue’s holdings in Cullen/Frost Bankers were worth $834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Keene & Associates Inc. lifted its stake in Cullen/Frost Bankers by 1.7% during the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after purchasing an additional 89 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Cullen/Frost Bankers by 7.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after buying an additional 97 shares in the last quarter. First National Bank of Hutchinson increased its holdings in shares of Cullen/Frost Bankers by 1.6% during the first quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after buying an additional 102 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after buying an additional 105 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Cullen/Frost Bankers by 18.5% during the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after buying an additional 106 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFR has been the subject of several recent analyst reports. 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. DA Davidson raised their price objective on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Wedbush dropped their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Stephens raised their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, Morgan Stanley lowered their price target on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $123.86.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.00% of the company’s stock.

Cullen/Frost Bankers Price Performance

CFR opened at $127.64 on Wednesday. The company has a fifty day moving average price of $116.22 and a two-hundred day moving average price of $109.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a 52 week low of $91.24 and a 52 week high of $135.00. The firm has a market capitalization of $8.17 billion, a PE ratio of 15.84, a P/E/G ratio of 1.54 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts’ consensus estimates 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 business earned $2.38 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.61 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.98%. Cullen/Frost Bankers’s dividend payout ratio is 47.15%.

Cullen/Frost Bankers Company Profile

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.