Canada Pension Plan Investment Board Invests $1.36 Million in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Canada Pension Plan Investment Board purchased 8,800 shares of Cullen/Frost Bankers worth approximately $1.36 million in the second quarter. Institutional investors collectively own 86.9% of the bank’s outstanding shares.
• Analyst sentiment is mixed: Cullen/Frost has a consensus rating of “Hold” and an average price target of $161.75, with recent target increases from Barclays and TD Cowen.
• The bank exceeded quarterly EPS expectations, reporting $2.70 versus the $2.55 consensus estimate, and declared a quarterly dividend of $1.03 per share, equivalent to a 2.6% annualized yield.

Canada Pension Plan Investment Board purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,800 shares of the bank's stock, valued at approximately $1,360,000.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Cullen/Frost Bankers in the second quarter worth approximately $1,133,453,000. Norges Bank acquired a new position in Cullen/Frost Bankers during the fourth quarter valued at approximately $92,904,000. William Blair Investment Management LLC bought a new position in shares of Cullen/Frost Bankers in the second quarter worth about $89,425,000. The Manufacturers Life Insurance Company bought a new stake in shares of Cullen/Frost Bankers in the second quarter valued at approximately $80,127,000. Finally, Bank of New York Mellon Corp acquired a new stake in Cullen/Frost Bankers in the 2nd quarter worth $79,846,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Carol Jean Severyn sold 837 shares of the company'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 transaction, the executive vice president owned 12,712 shares of the company's stock, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CFR has been the topic of a number of analyst reports. Raymond James Financial reissued a "market perform" rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. Barclays raised their price target on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an "equal weight" rating in a report on Tuesday, July 7th. TD Cowen upped their price target on Cullen/Frost Bankers from $169.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Citigroup upped their target price on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a "sell" rating in a research report on Tuesday, June 30th. Finally, Zacks Research upgraded 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 assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $161.75.

Cullen/Frost Bankers Trading Down 0.3%

Shares of Cullen/Frost Bankers stock opened at $161.19 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. The business's 50 day moving average is $161.58 and its 200-day moving average is $147.46. Cullen/Frost Bankers, Inc. has a 12-month low of $119.00 and a 12-month high of $170.80. The stock has a market cap of $10.02 billion, a P/E ratio of 15.24, a P/E/G ratio of 2.48 and a beta of 0.53.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.15. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. The company had revenue of $576.01 million during the quarter, compared to the consensus estimate of $589.72 million. During the same quarter last year, the firm posted $2.39 EPS. Equities research analysts predict that Cullen/Frost Bankers, Inc. will post 10.9 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, August 31st. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 38.94%.

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.

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