Illinois Municipal Retirement Fund Has $1.58 Million Holdings in Cullen/Frost Bankers, Inc. $CFR

Illinois Municipal Retirement Fund increased its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 116.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,428 shares of the bank’s stock after buying an additional 6,681 shares during the period. Illinois Municipal Retirement Fund’s holdings in Cullen/Frost Bankers were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CFR. Root Financial Partners LLC acquired a new position in Cullen/Frost Bankers in the 3rd quarter valued at $26,000. GoalVest Advisory LLC bought a new position in shares of Cullen/Frost Bankers in the third quarter worth $28,000. Hantz Financial Services Inc. raised its stake in Cullen/Frost Bankers by 8,800.0% in the second quarter. Hantz Financial Services Inc. now owns 267 shares of the bank’s stock valued at $34,000 after purchasing an additional 264 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Cullen/Frost Bankers by 105.2% during the third quarter. Farther Finance Advisors LLC now owns 355 shares of the bank’s stock worth $45,000 after purchasing an additional 182 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Cullen/Frost Bankers by 40.8% during the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CFR shares. DA Davidson boosted their target price on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Loop Capital set a $160.00 price objective on shares of Cullen/Frost Bankers in a research note on Monday, February 2nd. Keefe, Bruyette & Woods upped their target price on Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. TD Cowen reaffirmed a “positive” rating on shares of Cullen/Frost Bankers in a report on Monday, February 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cullen/Frost Bankers in a report on Monday, December 29th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $140.92.

Insider Activity

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 transaction of $88,900.00. Following the sale, the executive vice president directly owned 3,795 shares in the company, valued at $481,965. This trade represents a 15.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bobby Berman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $137.07, for a total transaction of $137,070.00. Following the sale, the executive vice president directly owned 28,406 shares in the company, valued at $3,893,610.42. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,700 shares of company stock worth $225,970. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $144.17 on Wednesday. The company’s 50 day moving average price is $135.79 and its two-hundred day moving average price is $129.21. The firm has a market capitalization of $9.11 billion, a P/E ratio of 14.53, a P/E/G ratio of 5.32 and a beta of 0.65. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week 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.

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

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, February 27th. Cullen/Frost Bankers’s payout ratio is 40.32%.

Cullen/Frost Bankers Company 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.