KLP Kapitalforvaltning AS Takes Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

KLP Kapitalforvaltning AS bought a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the fourth quarter, Holdings Channel reports. The firm bought 12,300 shares of the bank’s stock, valued at approximately $1,651,000.

Other large investors also recently bought and sold shares of the company. Madison Investment Advisors LLC acquired a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth about $46,223,000. Barclays PLC raised its position in Cullen/Frost Bankers by 234.5% during the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank’s stock worth $48,814,000 after buying an additional 305,921 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Cullen/Frost Bankers by 13,334.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 281,860 shares of the bank’s stock valued at $37,840,000 after acquiring an additional 279,762 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Cullen/Frost Bankers in the 4th quarter valued at $21,181,000. Finally, Impax Asset Management Group plc acquired a new stake in shares of Cullen/Frost Bankers in the fourth quarter worth $15,439,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, insider Paul Bracher sold 11,500 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the sale, the insider now directly owns 102,946 shares in the company, valued at $14,355,819.70. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CFR shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $144.00 price target on shares of Cullen/Frost Bankers in a report on Friday, January 31st. DA Davidson downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and upped their target price for the stock from $138.00 to $143.00 in a research note on Monday, February 3rd. Evercore ISI lifted their price target on Cullen/Frost Bankers from $136.00 to $144.00 and gave the company an “underperform” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods raised their price objective on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley cut their target price on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, March 13th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $132.77.

Cullen/Frost Bankers Stock Up 0.6 %

Shares of NYSE CFR opened at $124.42 on Friday. Cullen/Frost Bankers, Inc. has a 52-week low of $94.09 and a 52-week high of $147.64. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. The company’s 50-day simple moving average is $134.41 and its 200-day simple moving average is $130.83. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 6.46 and a beta of 0.97.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. Equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.05%. The ex-dividend date was Friday, February 28th. Cullen/Frost Bankers’s dividend payout ratio is currently 42.84%.

Cullen/Frost Bankers 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.