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

Key Points

• Alberta Investment Management Corp increased its Cullen/Frost Bankers stake by 21.2% in the fourth quarter, ending with 400,000 shares valued at about $50.65 million.
• Institutional ownership in CFR remains very high at 86.90%, and several other big investors also boosted their positions recently, including Goldman Sachs, UBS AM, and Invesco.
• Cullen/Frost Bankers has a mixed analyst outlook: the consensus rating is Hold with a $148.73 target price, even as the company reported Q1 earnings above estimates and recently raised its quarterly dividend to $1.03 per share.

Alberta Investment Management Corp boosted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 21.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400,000 shares of the bank's stock after acquiring an additional 70,000 shares during the period. Alberta Investment Management Corp owned approximately 0.63% of Cullen/Frost Bankers worth $50,652,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Cullen/Frost Bankers by 61.6% during the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank's stock valued at $75,833,000 after purchasing an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Cullen/Frost Bankers by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank's stock valued at $20,896,000 after buying an additional 15,063 shares during the period. Geneos Wealth Management Inc. increased its holdings in Cullen/Frost Bankers by 40.8% in the 1st 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. Invesco Ltd. raised its stake in shares of Cullen/Frost Bankers by 12.2% in the 2nd quarter. Invesco Ltd. now owns 126,040 shares of the bank's stock valued at $16,201,000 after buying an additional 13,718 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Cullen/Frost Bankers by 82.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank's stock valued at $151,000 after buying an additional 532 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Analysts Set New Price Targets

CFR has been the topic of several recent research reports. Weiss Ratings upgraded shares of Cullen/Frost Bankers from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. Stephens upgraded shares of Cullen/Frost Bankers from an "equal weight" rating to an "overweight" rating and set a $164.00 price target for the company in a research note on Tuesday, May 5th. TD Cowen raised Cullen/Frost Bankers to a "strong-buy" rating in a report on Monday, April 13th. DA Davidson upped their price objective on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Finally, Morgan Stanley lowered their price objective on Cullen/Frost Bankers from $143.00 to $133.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Cullen/Frost Bankers has an average rating of "Hold" and a consensus target price of $148.73.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president directly 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.14% of the company's stock.

Cullen/Frost Bankers Stock Up 0.2%

Shares of CFR opened at $145.87 on Friday. The firm has a market capitalization of $9.16 billion, a price-to-earnings 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. The business's fifty day moving average price is $140.80 and its two-hundred day moving average price is $137.41. 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 - Get Free Report) last released its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $574.84 million during the quarter, compared to the consensus estimate of $587.28 million. During the same quarter in the previous year, the company posted $2.30 earnings per share. On average, analysts predict that Cullen/Frost Bankers, Inc. will post 10.53 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $4.12 annualized dividend and a yield of 2.8%. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $1.00. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 40.12%.

About Cullen/Frost Bankers

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.