Truist Financial Corp Acquires 18,053 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Truist Financial Corp increased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 122.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,842 shares of the bank’s stock after purchasing an additional 18,053 shares during the quarter. Truist Financial Corp’s holdings in Cullen/Frost Bankers were worth $4,409,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CFR. Covestor Ltd lifted its position in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Cullen/Frost Bankers by 45.8% in the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Cullen/Frost Bankers during the third quarter worth $29,000. Blue Trust Inc. grew its position in Cullen/Frost Bankers by 239.0% in the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after purchasing an additional 239 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in Cullen/Frost Bankers during the 3rd quarter worth about $44,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $140.22 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 6.46 and a beta of 0.99. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The firm’s 50-day simple moving average is $138.39 and its 200 day simple moving average is $127.91.

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 analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, February 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 42.84%.

Insider Activity at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 11,500 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on CFR. Citigroup upped their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Maxim Group boosted their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a report on Friday, November 1st. DA Davidson cut shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and increased their price target for the company from $138.00 to $143.00 in a research note on Monday, February 3rd. Stephens boosted their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, Evercore ISI raised their target price on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the company an “underperform” rating in a research note on Monday, February 10th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $132.54.

About Cullen/Frost Bankers

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.