Victory Capital Management Inc. lifted its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,461 shares of the bank’s stock after purchasing an additional 940 shares during the quarter. Victory Capital Management Inc.’s holdings in Cullen/Frost Bankers were worth $1,045,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James & Associates increased its stake in Cullen/Frost Bankers by 15.1% during the third quarter. Raymond James & Associates now owns 203,802 shares of the bank’s stock worth $18,589,000 after acquiring an additional 26,670 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Cullen/Frost Bankers by 15.9% during the second quarter. Handelsbanken Fonder AB now owns 10,916 shares of the bank’s stock worth $1,174,000 after buying an additional 1,500 shares during the period. Strs Ohio boosted its position in shares of Cullen/Frost Bankers by 106.8% during the second quarter. Strs Ohio now owns 69,900 shares of the bank’s stock worth $7,516,000 after buying an additional 36,100 shares during the period. SG Americas Securities LLC boosted its position in shares of Cullen/Frost Bankers by 92.9% during the third quarter. SG Americas Securities LLC now owns 20,657 shares of the bank’s stock worth $1,884,000 after buying an additional 9,950 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Cullen/Frost Bankers by 295.9% during the second quarter. Marshall Wace LLP now owns 214,420 shares of the bank’s stock worth $23,057,000 after buying an additional 160,258 shares during the period. Institutional investors and hedge funds own 81.39% of the company’s stock.
Cullen/Frost Bankers Stock Up 2.8 %
CFR opened at $106.12 on Tuesday. The business’s 50-day simple moving average is $105.81 and its 200-day simple moving average is $99.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 0.63. Cullen/Frost Bankers, Inc. has a one year low of $82.25 and a one year high of $134.33. The stock has a market capitalization of $6.81 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04.
Cullen/Frost Bankers Dividend Announcement
Wall Street Analyst Weigh In
Several research firms have recently commented on CFR. Morgan Stanley raised their price target on Cullen/Frost Bankers from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods decreased their target price on Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating for the company in a report on Friday, January 26th. UBS Group lifted their target price on Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Compass Point lowered Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Citigroup began coverage on Cullen/Frost Bankers in a report on Friday, December 1st. They issued a “sell” rating and a $94.00 target price for the company. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $113.77.
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. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, 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.
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