Carlson Capital L.P. Acquires Shares of 10,900 Cullen/Frost Bankers, Inc. $CFR

Carlson Capital L.P. bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,900 shares of the bank’s stock, valued at approximately $1,382,000. Cullen/Frost Bankers comprises approximately 0.5% of Carlson Capital L.P.’s investment portfolio, making the stock its 13th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of CFR. M.E. Allison & CO. Inc. boosted its stake in shares of Cullen/Frost Bankers by 35.1% during the second quarter. M.E. Allison & CO. Inc. now owns 8,734 shares of the bank’s stock valued at $1,123,000 after purchasing an additional 2,270 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in Cullen/Frost Bankers by 62.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 38,734 shares of the bank’s stock valued at $4,910,000 after buying an additional 14,831 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Cullen/Frost Bankers by 3,892.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 100,368 shares of the bank’s stock valued at $12,901,000 after buying an additional 97,854 shares during the last quarter. Legal & General Group Plc boosted its position in Cullen/Frost Bankers by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 100,690 shares of the bank’s stock worth $12,943,000 after buying an additional 3,313 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Cullen/Frost Bankers by 30.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 102,234 shares of the bank’s stock worth $13,141,000 after acquiring an additional 23,714 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Up 2.2%

Shares of Cullen/Frost Bankers stock opened at $146.79 on Friday. The stock’s 50-day moving average is $133.06 and its 200 day moving average is $128.69. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $148.12. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 5.29 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.09. The firm had revenue of $562.58 million for the quarter, compared to analyst estimates of $578.05 million. Cullen/Frost Bankers had a return on equity of 15.79% and a net margin of 21.99%.During the same period in the previous year, the firm earned $2.36 earnings per share. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $4.00 annualized dividend and a yield of 2.7%. Cullen/Frost Bankers’s dividend payout ratio is currently 40.32%.

Insiders Place Their Bets

In other news, EVP Bobby Berman sold 1,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $137.07, for a total value of $137,070.00. Following the completion of the sale, the executive vice president directly owned 28,406 shares in the company, valued at $3,893,610.42. This trade represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total value of $88,900.00. Following the completion of the sale, the executive vice president directly owned 3,795 shares of the company’s stock, valued at $481,965. The trade was a 15.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,700 shares of company stock valued at $225,970 over the last 90 days. Corporate insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup lifted their price target 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. TD Cowen reaffirmed a “positive” rating on shares of Cullen/Frost Bankers in a report on Monday. Barclays upped their price target on Cullen/Frost Bankers from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. DA Davidson raised their price objective on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods upped their target price on Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $140.92.

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.