Alberta Investment Management Corp Acquires New Position in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Alberta Investment Management Corp acquired 400,000 shares of Cullen/Frost Bankers worth approximately $61.8 million, representing about 0.64% of the bank; institutional investors collectively own 86.9% of the stock.
• Analyst sentiment is mixed but improved, with Cullen/Frost holding a consensus “Hold” rating and an average price target of $160.33. Zacks upgraded the stock to “Strong Buy,” while several firms raised their targets.
• Cullen/Frost exceeded quarterly expectations, reporting $2.70 in EPS on $608.65 million in revenue, and announced a quarterly dividend of $1.03 per share, equivalent to a 2.4% annual yield.

Alberta Investment Management Corp acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 400,000 shares of the bank's stock, valued at approximately $61,808,000. Alberta Investment Management Corp owned about 0.64% of Cullen/Frost Bankers as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in shares of Cullen/Frost Bankers in the 3rd quarter worth $28,000. Covestor Ltd increased its holdings in Cullen/Frost Bankers by 67.6% in the fourth quarter. Covestor Ltd now owns 248 shares of the bank's stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Cullen/Frost Bankers in the first quarter valued at about $41,000. Geneos Wealth Management Inc. lifted its stake in Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank's stock valued at $46,000 after buying an additional 106 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Cullen/Frost Bankers in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CFR shares. DA Davidson increased their price target on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Royal Bank Of Canada boosted their price objective on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. Jefferies Financial Group raised shares of Cullen/Frost Bankers from an "underperform" rating to a "hold" rating and upped their target price for the company from $135.00 to $160.00 in a research note on Monday, July 6th. Cantor Fitzgerald increased their target price on shares of Cullen/Frost Bankers from $154.00 to $158.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Finally, Zacks Research raised shares of Cullen/Frost Bankers from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Hold" and an average price target of $160.33.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the business's stock in a transaction that occurred 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. The trade was a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.14% of the company's stock.

Cullen/Frost Bankers Price Performance

CFR stock opened at $169.96 on Monday. The stock has a 50-day moving average price of $157.51 and a two-hundred day moving average price of $145.69. Cullen/Frost Bankers, Inc. has a 1 year low of $119.00 and a 1 year high of $170.35. The stock has a market cap of $10.56 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.15. The company had revenue of $608.65 million for the quarter, compared to analyst estimates of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same period in the previous year, the company posted $2.39 earnings per share. Equities analysts forecast that Cullen/Frost Bankers, Inc. will post 10.8 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, August 31st. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 38.94%.

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.

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