Sprucegrove Investment Management Ltd. has recently reduced its position in Cullen/Frost Bankers, Inc. by 34.2% according to its recent filing with the Securities and Exchange Commission (SEC), selling 58,307 shares to own a total of 112,400 shares of the bank’s stock in the fourth quarter. This move has made Cullen/Frost Bankers its 20th biggest holding with comprises about 0.8% of Sprucegrove Investment Management Ltd.’s holdings. At the end of the most recent quarter, it was reported that Sprucegrove Investment Management Ltd owned 0.17% of Cullen/Frost Bankers estimated at $15,028,000.
Cullen/Frost Bankers (NYSE:CFR) announced last April 27th that it had an earnings result worth $2.70 per share for that quarter which exceeded consensus estimates of $2.55 per share by $0.15 giving the company a net margin of 30.40% with a return on equity of 21.59%. During this period, the bank saw a revenue rise to $505.09 million compared to last year’s revenues at the same time with just over half a billion dollars ($503.93m). It was said that their current annual forecast is that they will post about 9.79 EPS for this year – above average values expected from research analysts.
Several equities analysts have weighed in recent days regarding CFR shares as UBS Group begun coverage recently stating t”sell” rating and set out a price target on stocks standing at $107 while other banks are upgrading or putting coverage ratings on their stocks seeing how CFR will potentially grow later in years especially if market forces permit it.
Thus far, CFR holds various assigned ratings as BlackRock Inc., Glenmede Trust Co NA and Wells Fargo & Company have heavily invested in them too. With a $7.12 billion market cap, current shares have an average rating standing at “Hold” and are expected to perform well if the stock manages to rise amid on-going volatility in markets and looming issues brought about by uncertainties surrounding the global pandemic crisis.
Cullen/Frost Bankers, Inc. Sees Increase in Institutional and Hedge Fund Holdings Amid Mixed Analyst Opinions
Cullen/Frost Bankers, Inc. (CFR) has recently seen an increase in the holdings of institutional investors and hedge funds. Arizona State Retirement System boosted its holdings in CFR by 0.4% in Q3, while FourThought Financial LLC increased its holdings by 51.1% during the same period. Thrivent Financial for Lutherans also boosted its holdings by 0.5% during Q2, and Crossmark Global Holdings Inc. raised its shares of CFR by 1.9% in Q4. 1900 Wealth Management LLC rounded out these boosts with a 1% increase in their holdings during Q3.
CFR opened on Friday at $93.42 with a market capitalization of $6.02 billion, a price-to-earnings ratio of 9.33, and a beta of 1.04. The company’s stock reached its highest point over the last year at $160.60, but hit a low of $92.55 within the same period.
Several equities analysts have evaluated the future performance of CFR shares: UBS Group weighed in on March 15th with coverage stating they gave it a “sell” rating and issued a target price of $107; Bank of America upgraded from neutral to buy and set a target price of $155 on January 5th; StockNews.com rated it as “sell” on March 16th; while Wedbush lifted their target price from $110 to $120 on April 28th.
According to reports filed with the security exchange commission (SEC), insiders have acquired large amounts of CFR stock recently as well: EVP Bobby Berman acquired 1,500 shares for $142,875; EVP Candace K Wolfshohl bought another 700 shares for $75,796; and insiders purchased another 18,200 shares valued at $1,932,626 over the past 90 days.
Cullen/Frost Bankers, Inc. recently announced a quarterly dividend with a payout ratio of 34.77%, which is set to be paid out to stockholders on June 15th. The ex-dividend date is Tuesday, May 30th and the dividend will be $0.87 per share, representing an annualized dividend yield of 3.73%.
Despite differing analyst opinions and varying holdings by institutional investors and hedge funds, Cullen/Frost Bankers, Inc.’s financial standing remains strong as it continues to navigate its primary business focus in commercial and consumer banking operations with financial services such as trust and investment management.