VELA Investment Management LLC Buys 14,541 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

VELA Investment Management LLC grew its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 578.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,055 shares of the bank’s stock after buying an additional 14,541 shares during the quarter. VELA Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $1,908,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in Cullen/Frost Bankers by 40.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock valued at $155,000 after purchasing an additional 395 shares in the last quarter. State of Michigan Retirement System raised its stake in Cullen/Frost Bankers by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 15,764 shares of the bank’s stock worth $1,775,000 after buying an additional 400 shares during the period. Norden Group LLC bought a new position in Cullen/Frost Bankers in the first quarter worth approximately $1,062,000. Janney Montgomery Scott LLC grew its stake in Cullen/Frost Bankers by 35.2% in the first quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank’s stock valued at $1,866,000 after acquiring an additional 4,317 shares during the period. Finally, Capstone Investment Advisors LLC raised its position in shares of Cullen/Frost Bankers by 68.8% during the first quarter. Capstone Investment Advisors LLC now owns 3,993 shares of the bank’s stock worth $449,000 after purchasing an additional 1,628 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CFR shares. Citigroup lowered their target price on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a report on Monday, September 30th. Stephens increased their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday. Morgan Stanley decreased their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. DA Davidson increased their price objective on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Truist Financial decreased their price objective on shares of 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. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.31.

Cullen/Frost Bankers Stock Down 1.1 %

NYSE:CFR traded down $1.37 during mid-day trading on Friday, hitting $125.98. 637,622 shares of the company’s stock were exchanged, compared to its average volume of 536,240. Cullen/Frost Bankers, Inc. has a one year low of $90.94 and a one year high of $135.00. 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 business has a fifty day moving average price of $115.61 and a 200 day moving average price of $109.00. The company has a market cap of $8.07 billion, a PE ratio of 15.63, a P/E/G ratio of 1.56 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.08. The firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 23.98% and a return on equity of 16.34%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 earnings per share. Equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.57 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 3.02%. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

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.