Great West Life Assurance Co. Can Increases Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Great West Life Assurance Co. Can grew its position in Cullen/Frost Bankers, Inc. (NYSE:CFRGet Rating) by 22.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 43,709 shares of the bank’s stock after purchasing an additional 8,156 shares during the period. Great West Life Assurance Co. Can’s holdings in Cullen/Frost Bankers were worth $5,777,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Atria Investments LLC raised its holdings in shares of Cullen/Frost Bankers by 6.2% in the third quarter. Atria Investments LLC now owns 14,331 shares of the bank’s stock valued at $1,895,000 after purchasing an additional 835 shares during the last quarter. Forefront Wealth Management Inc. purchased a new stake in Cullen/Frost Bankers during the third quarter worth about $1,597,000. Keene & Associates Inc. increased its holdings in Cullen/Frost Bankers by 58.5% during the third quarter. Keene & Associates Inc. now owns 3,953 shares of the bank’s stock worth $523,000 after buying an additional 1,459 shares during the last quarter. 1900 Wealth Management LLC increased its holdings in Cullen/Frost Bankers by 1.0% during the third quarter. 1900 Wealth Management LLC now owns 9,797 shares of the bank’s stock worth $1,295,000 after buying an additional 100 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in Cullen/Frost Bankers during the third quarter worth about $228,000. Hedge funds and other institutional investors own 81.93% of the company’s stock.

Analyst Ratings Changes

CFR has been the subject of a number of research analyst reports. Stephens raised their price objective on shares of Cullen/Frost Bankers from $149.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, October 28th. Bank of America upgraded shares of Cullen/Frost Bankers from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Thursday, January 5th. StockNews.com downgraded shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th. Morgan Stanley began coverage on shares of Cullen/Frost Bankers in a report on Monday, December 5th. They set an “overweight” rating and a $178.00 price objective for the company. Finally, Truist Financial cut their target price on shares of Cullen/Frost Bankers from $160.00 to $148.00 in a research report on Friday, December 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $152.38.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,941 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $151.62, for a total transaction of $294,294.42. Following the transaction, the executive vice president now directly owns 24,589 shares of the company’s stock, valued at $3,728,184.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.76% of the company’s stock.

Cullen/Frost Bankers Price Performance

CFR stock opened at $133.79 on Friday. The firm has a 50 day moving average of $136.58 and a 200-day moving average of $136.50. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. Cullen/Frost Bankers, Inc. has a 12 month low of $112.67 and a 12 month high of $160.60. The firm has a market capitalization of $8.60 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

Cullen/Frost Bankers (NYSE:CFRGet Rating) last announced its earnings results on Thursday, October 27th. The bank reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.40. Cullen/Frost Bankers had a net margin of 30.07% and a return on equity of 14.18%. The business had revenue of $479.34 million during the quarter, compared to analyst estimates of $445.68 million. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.68 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Tuesday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 46.71%.

Cullen/Frost Bankers Profile

(Get Rating)

Cullen/Frost Bankers, Inc operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services. It operates through the following segments: Banking and Frost Wealth Advisors. The Banking operating segment includes both commercial and consumer banking services and Frost Insurance Agency.

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Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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