Alberta Investment Management Corp Has $50.65 Million Position in Cullen/Frost Bankers, Inc. $CFR

Alberta Investment Management Corp raised its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 21.2% in the 4th quarter, Holdings Channel reports. The firm owned 400,000 shares of the bank’s stock after buying an additional 70,000 shares during the period. Alberta Investment Management Corp’s holdings in Cullen/Frost Bankers were worth $50,652,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CFR. Advisory Services Network LLC bought a new position in Cullen/Frost Bankers during the third quarter worth about $28,000. Covestor Ltd boosted its holdings in Cullen/Frost Bankers by 67.6% during the fourth quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Cullen/Frost Bankers by 252.1% during the 4th quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock worth $33,000 after buying an additional 184 shares during the last quarter. Community Bank N.A. bought a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at about $35,000. Finally, Matrix Trust Co grew 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 acquiring an additional 92 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Carol Jean Severyn sold 837 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the sale, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CFR. Barclays upped their target price 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 research note on Monday, March 2nd. Citigroup upped their price objective on Cullen/Frost Bankers from $125.00 to $131.00 and gave the stock a “sell” rating in a research note on Thursday, May 7th. TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. Finally, Royal Bank Of Canada raised their target price on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $148.73.

Cullen/Frost Bankers Trading Up 0.2%

Cullen/Frost Bankers stock opened at $145.87 on Friday. The stock has a 50-day simple moving average of $140.80 and a 200 day simple moving average of $137.41. The stock has a market capitalization of $9.16 billion, a P/E ratio of 14.20, a PEG ratio of 3.67 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, Inc. has a 52 week low of $119.00 and a 52 week high of $148.97.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The firm had revenue of $574.84 million for the quarter, compared to analyst estimates of $587.28 million. During the same quarter in the prior year, the company earned $2.30 earnings per share. Analysts expect that Cullen/Frost Bankers, Inc. will post 10.53 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 29th. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. Cullen/Frost Bankers’s payout ratio is presently 40.12%.

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.