Healthcare of Ontario Pension Plan Trust Fund Takes $1.45 Million Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 12,952 shares of the bank’s stock, valued at approximately $1,449,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Boston Trust Walden Corp acquired a new stake in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $107,166,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Cullen/Frost Bankers during the third quarter worth approximately $54,012,000. Deprince Race & Zollo Inc. acquired a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at $37,813,000. The Manufacturers Life Insurance Company boosted its stake in Cullen/Frost Bankers by 117.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank’s stock worth $63,618,000 after acquiring an additional 307,129 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in Cullen/Frost Bankers by 7,109.7% in the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after acquiring an additional 247,416 shares during the period. Institutional investors own 86.90% of the company’s stock.

Insider Activity

In other news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at $3,367,550.91. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the transaction, the executive vice president now directly owns 2,888 shares in the company, valued at $399,525.92. This represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,864 shares of company stock worth $2,977,033. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Down 1.2 %

CFR stock opened at $140.62 on Monday. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $9.02 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The firm’s fifty day simple moving average is $127.06 and its 200-day simple moving average is $113.36.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. Cullen/Frost Bankers’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.38 EPS. As a group, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.73 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.70%. Cullen/Frost Bankers’s payout ratio is currently 47.15%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CFR. Truist Financial lowered their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Wedbush dropped their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Royal Bank of Canada increased their price target on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Maxim Group increased their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Evercore ISI decreased their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $123.86.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.