Boston Trust Walden Corp Makes New $107.17 Million Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Boston Trust Walden Corp purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the third quarter, HoldingsChannel reports. The institutional investor purchased 958,038 shares of the bank’s stock, valued at approximately $107,166,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Champlain Investment Partners LLC lifted its stake in Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after purchasing an additional 495,215 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after buying an additional 161,580 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cullen/Frost Bankers by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after acquiring an additional 120,333 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Cullen/Frost Bankers by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 648,922 shares of the bank’s stock worth $65,950,000 after acquiring an additional 2,420 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 1.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 438,407 shares of the bank’s stock worth $44,555,000 after acquiring an additional 5,541 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFR has been the subject of a number of research analyst reports. Wedbush reduced their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Maxim Group upped their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Stephens lifted their price target on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Truist Financial reduced their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Finally, Morgan Stanley reduced their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $121.31.

Insiders Place Their Bets

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Price Performance

NYSE:CFR traded down $0.07 during trading hours on Friday, hitting $127.42. The company’s stock had a trading volume of 593,879 shares, compared to its average volume of 444,079. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $8.19 billion, a P/E ratio of 15.06, a PEG ratio of 1.51 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a twelve month low of $84.86 and a twelve month high of $128.90. The stock has a fifty day simple moving average of $113.65 and a 200-day simple moving average of $108.31.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.14. The company had revenue of $528.81 million for the quarter, compared to analyst estimates of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same period in the previous year, the firm posted $2.47 EPS. On average, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.59 EPS for the current fiscal year.

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.