Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Cullen/Frost Bankers, Inc. $CFR

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 35,611 shares of the bank’s stock, valued at approximately $5,503,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Cullen/Frost Bankers at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Cullen/Frost Bankers in the 2nd quarter worth about $1,133,453,000. Dimensional Fund Advisors LP increased its position in shares of Cullen/Frost Bankers by 18.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock valued at $209,833,000 after buying an additional 236,808 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cullen/Frost Bankers by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank’s stock worth $155,059,000 after buying an additional 10,246 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Cullen/Frost Bankers by 11.8% in the first quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock valued at $165,966,000 after acquiring an additional 127,483 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Cullen/Frost Bankers by 2.3% in the third quarter. Northern Trust Corp now owns 965,821 shares of the bank’s stock valued at $122,437,000 after acquiring an additional 21,793 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Down 1.2%

Shares of Cullen/Frost Bankers stock opened at $161.38 on Friday. Cullen/Frost Bankers, Inc. has a 12-month low of $119.00 and a 12-month high of $170.80. The company has a market cap of $10.03 billion, a P/E ratio of 15.25, a PEG ratio of 2.50 and a beta of 0.53. The company’s fifty day simple moving average is $161.03 and its two-hundred day simple moving average is $147.26. 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) last issued its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, topping the consensus estimate of $2.55 by $0.15. The business had revenue of $576.01 million during the quarter, compared to analyst estimates of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same period last year, the business posted $2.39 earnings per share. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.9 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Zacks Research raised shares of Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Morgan Stanley boosted their price target on shares of Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an “underweight” rating in a research report on Monday, June 29th. TD Cowen upped their price objective on shares of Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Citigroup raised their price target on 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, Jefferies Financial Group upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $135.00 to $160.00 in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and an average price target of $161.75.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the completion of the transaction, the executive vice president directly owned 12,712 shares in the company, valued at approximately $1,885,062.48. This trade 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 is accessible through the SEC website. Corporate insiders own 1.14% of the company’s stock.

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.