Sprucegrove Investment Management Ltd. Sells 72,592 Shares of Cullen/Frost Bankers, Inc. $CFR

Sprucegrove Investment Management Ltd. lessened its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 63.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,038 shares of the bank's stock after selling 72,592 shares during the quarter. Cullen/Frost Bankers comprises about 0.6% of Sprucegrove Investment Management Ltd.'s investment portfolio, making the stock its 20th largest position. Sprucegrove Investment Management Ltd. owned approximately 0.06% of Cullen/Frost Bankers worth $5,197,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Cullen/Frost Bankers by 6.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,187,406 shares of the bank's stock valued at $150,529,000 after purchasing an additional 77,028 shares during the period. Bank of America Corp DE grew its position in shares of Cullen/Frost Bankers by 8.5% during the 3rd quarter. Bank of America Corp DE now owns 1,129,673 shares of the bank's stock worth $143,209,000 after buying an additional 88,080 shares during the period. Northern Trust Corp raised its stake in shares of Cullen/Frost Bankers by 2.3% during the third quarter. Northern Trust Corp now owns 965,821 shares of the bank's stock worth $122,437,000 after buying an additional 21,793 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Cullen/Frost Bankers by 11.9% in the third quarter. Impax Asset Management Group plc now owns 920,833 shares of the bank's stock valued at $116,734,000 after buying an additional 97,955 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Cullen/Frost Bankers by 3.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 831,752 shares of the bank's stock valued at $105,441,000 after buying an additional 25,000 shares during the period. Institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Loop Capital set a $160.00 target price on shares of Cullen/Frost Bankers in a report on Monday, February 2nd. DA Davidson increased their price target on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a "neutral" rating in a research note on Monday. Royal Bank Of Canada lifted their price objective on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Morgan Stanley dropped their price objective on Cullen/Frost Bankers from $143.00 to $133.00 and set an "underweight" rating for the company in a report on Tuesday, March 31st. Finally, TD Cowen raised Cullen/Frost Bankers to a "strong-buy" rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $144.58.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $140.49 on Wednesday. The firm has a 50-day moving average of $138.85 and a 200-day moving average of $133.76. The company has a market cap of $8.82 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 3.80 and a beta of 0.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $148.97.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted 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 business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $587.29 million. During the same period in the previous year, the firm earned $2.30 EPS. As a group, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 10.36 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $4.12 annualized dividend and a yield of 2.9%. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $1.00. Cullen/Frost Bankers's payout ratio is currently 38.95%.

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.

Want to see what other hedge funds are holding CFR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report).

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.