Shell Asset Management Co. trimmed its position in Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 13.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,331 shares of the bank’s stock after selling 506 shares during the quarter. Shell Asset Management Co.’s holdings in Cullen/Frost Bankers were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank N A MO acquired a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth $25,000. Holloway Wealth Management LLC acquired a new stake in shares of Cullen/Frost Bankers in the first quarter worth $28,000. Steward Financial Group LLC acquired a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth $37,000. North Star Investment Management Corp. acquired a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth $73,000. Finally, Quadrant Capital Group LLC raised its stake in Cullen/Frost Bankers by 99.5% during the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the bank’s stock valued at $93,000 after purchasing an additional 369 shares during the last quarter. 81.69% of the stock is currently owned by institutional investors and hedge funds.
Cullen/Frost Bankers Stock Up 1.1 %
CFR opened at $131.05 on Thursday. The firm’s 50-day simple moving average is $121.66 and its 200-day simple moving average is $131.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.65 and a current ratio of 0.65. Cullen/Frost Bankers, Inc. has a twelve month low of $106.66 and a twelve month high of $147.39. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 1.73 and a beta of 1.21.
Cullen/Frost Bankers Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.48 dividend on an annualized basis and a yield of 2.66%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.75. Cullen/Frost Bankers’s dividend payout ratio is currently 46.08%.
Wall Street Analysts Forecast Growth
CFR has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Cullen/Frost Bankers from an “underweight” rating to an “overweight” rating and upped their target price for the company from $143.00 to $155.00 in a research note on Wednesday, June 15th. Maxim Group reiterated a “buy” rating and set a $162.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, April 29th. Jefferies Financial Group cut their target price on shares of Cullen/Frost Bankers from $156.00 to $124.00 in a research note on Monday, July 11th. Bank of America upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating and set a $144.00 target price for the company in a research note on Friday, April 8th. Finally, Truist Financial cut their target price on shares of Cullen/Frost Bankers from $149.00 to $134.00 in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $137.75.
Cullen/Frost Bankers Profile
Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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