Norges Bank Makes New $92.90 Million Investment in Cullen/Frost Bankers, Inc. $CFR

Norges Bank acquired a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 733,668 shares of the bank’s stock, valued at approximately $92,904,000. Norges Bank owned 1.16% of Cullen/Frost Bankers as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Diversified Trust Co. lifted its holdings in Cullen/Frost Bankers by 0.5% in the 4th quarter. Diversified Trust Co. now owns 13,868 shares of the bank’s stock worth $1,756,000 after buying an additional 74 shares during the period. Matrix Trust Co lifted its holdings in Cullen/Frost Bankers by 40.4% in the 4th quarter. Matrix Trust Co now owns 320 shares of the bank’s stock worth $41,000 after buying an additional 92 shares during the period. Private Advisor Group LLC lifted its holdings in Cullen/Frost Bankers by 2.9% in the 3rd quarter. Private Advisor Group LLC now owns 3,283 shares of the bank’s stock worth $416,000 after buying an additional 94 shares during the period. Cardinal Capital Management lifted its holdings in Cullen/Frost Bankers by 0.5% in the 4th quarter. Cardinal Capital Management now owns 18,134 shares of the bank’s stock worth $2,296,000 after buying an additional 98 shares during the period. Finally, Covestor Ltd lifted its holdings in Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock worth $31,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Up 1.9%

Shares of NYSE:CFR opened at $140.46 on Friday. Cullen/Frost Bankers, Inc. has a 52-week low of $119.00 and a 52-week high of $148.97. The firm has a market capitalization of $8.82 billion, a P/E ratio of 13.68, a P/E/G ratio of 3.50 and a beta of 0.55. The stock has a 50 day moving average price of $139.44 and a 200-day moving average price of $135.89. 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 (NYSE:CFR) last announced its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $587.29 million. During the same quarter in the prior year, the company earned $2.30 EPS. As a group, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.46 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $1.03 per share. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, May 29th. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. Cullen/Frost Bankers’s dividend payout ratio is 40.12%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CFR shares. Cantor Fitzgerald reiterated a “neutral” rating on shares of Cullen/Frost Bankers in a report on Monday. Citigroup increased their target price on Cullen/Frost Bankers from $125.00 to $131.00 and gave the stock a “sell” rating in a research report on Thursday, May 7th. Morgan Stanley decreased their target price on Cullen/Frost Bankers from $143.00 to $133.00 and set an “underweight” rating for the company in a research report on Tuesday, March 31st. DA Davidson increased their target price on Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $148.73.

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.