Rafferty Asset Management LLC Buys 10,727 Shares of Cullen/Frost Bankers, Inc. $CFR

Rafferty Asset Management LLC boosted its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 16.2% in the third quarter, HoldingsChannel reports. The firm owned 76,964 shares of the bank’s stock after buying an additional 10,727 shares during the period. Rafferty Asset Management LLC’s holdings in Cullen/Frost Bankers were worth $9,757,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Champlain Investment Partners LLC boosted its position in shares of Cullen/Frost Bankers by 1.0% during the 2nd quarter. Champlain Investment Partners LLC now owns 1,734,222 shares of the bank’s stock worth $222,917,000 after purchasing an additional 16,771 shares in the last quarter. Geode Capital Management LLC increased its position in Cullen/Frost Bankers by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,154,566 shares of the bank’s stock valued at $149,558,000 after buying an additional 9,332 shares in the last quarter. Impax Asset Management Group plc raised its stake in Cullen/Frost Bankers by 11.9% during the 3rd quarter. Impax Asset Management Group plc now owns 920,833 shares of the bank’s stock worth $116,734,000 after buying an additional 97,955 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Cullen/Frost Bankers by 3.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 831,752 shares of the bank’s stock worth $105,441,000 after acquiring an additional 25,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Cullen/Frost Bankers by 14.7% in the second quarter. The Manufacturers Life Insurance Company now owns 742,981 shares of the bank’s stock valued at $95,503,000 after acquiring an additional 94,985 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

CFR has been the subject of several recent research reports. DA Davidson boosted their price objective on Cullen/Frost Bankers from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Royal Bank Of Canada lifted their price target on shares of Cullen/Frost Bankers from $144.00 to $150.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. TD Cowen restated a “positive” rating on shares of Cullen/Frost Bankers in a research note on Monday, February 2nd. Citigroup upped their price objective on shares of Cullen/Frost Bankers from $114.00 to $125.00 and gave the stock a “sell” rating in a report on Monday, February 2nd. Finally, Loop Capital set a $160.00 price objective on shares of Cullen/Frost Bankers in a research note on Monday, February 2nd. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $140.92.

Cullen/Frost Bankers Trading Down 4.1%

Shares of Cullen/Frost Bankers stock opened at $138.15 on Monday. The firm has a market cap of $8.73 billion, a PE ratio of 13.93, a P/E/G ratio of 5.08 and a beta of 0.63. Cullen/Frost Bankers, Inc. has a 1 year low of $100.31 and a 1 year high of $148.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a fifty day moving average price of $138.00 and a 200-day moving average price of $130.28.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The company had revenue of $562.58 million for the quarter, compared to the consensus estimate of $578.05 million. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. During the same period in the previous year, the firm earned $2.36 EPS. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, February 27th. Cullen/Frost Bankers’s payout ratio is presently 40.32%.

Insider Buying and Selling

In related news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total value of $88,900.00. Following the sale, the executive vice president owned 3,795 shares of the company’s stock, valued at approximately $481,965. The trade was a 15.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bobby Berman sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $137.07, for a total value of $137,070.00. Following the completion of the transaction, the executive vice president owned 28,406 shares in the company, valued at approximately $3,893,610.42. The trade was a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,700 shares of company stock valued at $225,970 over the last three months. Insiders own 1.20% of the company’s stock.

About Cullen/Frost Bankers

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.