Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 521,139 shares of the bank's stock after purchasing an additional 32,041 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.81% of Cullen/Frost Bankers worth $56,538,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in Cullen/Frost Bankers during the 3rd quarter valued at $27,000. Arvest Investments Inc. purchased a new stake in Cullen/Frost Bankers in the fourth quarter worth about $35,000. GAMMA Investing LLC bought a new position in Cullen/Frost Bankers during the 4th quarter worth about $43,000. Signaturefd LLC increased its position in Cullen/Frost Bankers by 87.8% during the 4th quarter. Signaturefd LLC now owns 706 shares of the bank's stock valued at $77,000 after purchasing an additional 330 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Cullen/Frost Bankers by 60.7% in the 3rd quarter. Covestor Ltd now owns 911 shares of the bank's stock valued at $83,000 after purchasing an additional 344 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Bobby Berman sold 1,312 shares of the company's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the sale, the executive vice president now owns 27,815 shares in the company, valued at $2,934,204.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CFR has been the topic of several research reports. Stephens lifted their price objective on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an "equal weight" rating in a report on Friday, January 26th. Truist Financial decreased their price objective on Cullen/Frost Bankers from $121.00 to $115.00 and set a "hold" rating for the company in a research note on Monday, April 29th. JPMorgan Chase & Co. lifted their target price on Cullen/Frost Bankers from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, April 4th. Morgan Stanley increased their price target on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group lifted their price objective on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a "hold" rating in a research report on Monday, April 8th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $117.46.

Cullen/Frost Bankers Stock Performance

CFR stock traded down $0.10 during midday trading on Friday, reaching $105.52. The stock had a trading volume of 336,142 shares, compared to its average volume of 412,862. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a fifty day simple moving average of $108.50 and a two-hundred day simple moving average of $105.43. The stock has a market cap of $6.78 billion, a PE ratio of 12.47, a P/E/G ratio of 1.34 and a beta of 1.04. Cullen/Frost Bankers, Inc. has a 52-week low of $82.25 and a 52-week high of $120.31.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. The firm had revenue of $522.74 million during the quarter, compared to the consensus estimate of $510.09 million. During the same quarter in the previous year, the company posted $2.70 earnings per share. As a group, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.43 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.49%. Cullen/Frost Bankers's payout ratio is currently 43.50%.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.