Polar Asset Management Partners Inc. acquired a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,757 shares of the bank’s stock, valued at approximately $789,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Advisory Services Network LLC bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $28,000. Covestor Ltd grew its stake in shares of Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Blue Trust Inc. increased its position in Cullen/Frost Bankers by 252.1% during the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock valued at $33,000 after buying an additional 184 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Cullen/Frost Bankers during the first quarter valued at $41,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.
Cullen/Frost Bankers Stock Performance
Shares of CFR opened at $163.75 on Tuesday. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 2.93 and a beta of 0.54. The business’s fifty day simple moving average is $149.34 and its two-hundred day simple moving average is $142.82. Cullen/Frost Bankers, Inc. has a 12 month low of $119.00 and a 12 month high of $166.25. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05.
Cullen/Frost Bankers Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $1.03 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, May 29th. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. Cullen/Frost Bankers’s payout ratio is presently 40.12%.
Insiders Place Their Bets
In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.14% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 15th. DA Davidson lifted their price target on Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Cantor Fitzgerald upped their price target on shares of Cullen/Frost Bankers from $154.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Jefferies Financial Group raised shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and increased their price objective for the company from $135.00 to $160.00 in a research report on Monday, July 6th. Finally, Raymond James Financial restated a “market perform” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus price target of $152.42.
Read Our Latest Stock Report on Cullen/Frost Bankers
Cullen/Frost Bankers 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.
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