Connor Clark & Lunn Investment Management Ltd. Takes $5.50 Million Position in Cullen/Frost Bankers, Inc. $CFR

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 2nd quarter, Holdings Channel reports. The firm bought 35,611 shares of the bank’s stock, valued at approximately $5,503,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CFR. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Cullen/Frost Bankers during the 2nd quarter valued at about $223,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Cullen/Frost Bankers in the second quarter worth about $37,000. Globeflex Capital L P bought a new position in Cullen/Frost Bankers in the 2nd quarter worth approximately $159,000. Commerce Bank bought a new stake in shares of Cullen/Frost Bankers during the second quarter valued at approximately $1,739,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Cullen/Frost Bankers during the second quarter valued at approximately $337,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CFR has been the topic of several research analyst reports. Barclays boosted their price target on shares of Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Zacks Research upgraded Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. DA Davidson lifted their target price on Cullen/Frost Bankers from $143.00 to $144.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Royal Bank Of Canada boosted their target price on Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Finally, Citigroup increased their price target on Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $161.75.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $161.38 on Friday. The company’s 50-day moving average price is $161.03 and its 200-day moving average price is $147.26. Cullen/Frost Bankers, Inc. has a twelve month low of $119.00 and a twelve month high of $170.80. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. The company has a market cap of $10.03 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 2.50 and a beta of 0.53.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.15. The firm had revenue of $576.01 million during the quarter, compared to the consensus estimate of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same quarter last year, the firm earned $2.39 EPS. On average, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 10.9 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $1.03 per share. The ex-dividend date is Monday, August 31st. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. Cullen/Frost Bankers’s dividend payout ratio is 38.94%.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Carol Jean Severyn sold 837 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the sale, the executive vice president directly owned 12,712 shares of the company’s stock, valued at $1,885,062.48. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.14% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.