Goldman Sachs Group Inc. grew its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) by 15.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 735,624 shares of the bank’s stock after purchasing an additional 98,789 shares during the period. Goldman Sachs Group Inc. owned about 1.16% of Cullen/Frost Bankers worth $93,152,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at about $28,000. Covestor Ltd increased its holdings in shares of Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. increased its holdings in shares of Cullen/Frost Bankers by 252.1% in the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock valued at $33,000 after purchasing an additional 184 shares during the period. Community Bank N.A. acquired a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at about $35,000. Finally, Matrix Trust Co increased its holdings in shares of Cullen/Frost Bankers by 40.4% in the 4th quarter. Matrix Trust Co now owns 320 shares of the bank’s stock valued at $41,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.
Cullen/Frost Bankers Trading Up 2.0%
NYSE:CFR opened at $143.68 on Wednesday. The stock’s 50 day moving average price is $139.73 and its 200 day moving average price is $136.31. Cullen/Frost Bankers, Inc. has a 52 week low of $119.00 and a 52 week high of $148.97. The company has a market capitalization of $9.02 billion, a P/E ratio of 13.99, a P/E/G ratio of 3.57 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65.
Cullen/Frost Bankers Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.9%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, May 29th. Cullen/Frost Bankers’s dividend payout ratio is 40.12%.
Analysts Set New Price Targets
A number of research firms recently commented on CFR. Cantor Fitzgerald restated a “neutral” rating on shares of Cullen/Frost Bankers in a report on Monday, June 1st. Stephens upgraded Cullen/Frost Bankers from an “equal weight” rating to an “overweight” rating and set a $164.00 price objective on the stock in a report on Tuesday, May 5th. Barclays increased their price objective on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. Weiss Ratings upgraded Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, Morgan Stanley dropped their price objective on Cullen/Frost Bankers from $143.00 to $133.00 and set an “underweight” rating on the stock in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus price target of $148.73.
Check Out Our Latest Stock Analysis 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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