Strategic Financial Concepts LLC Purchases 279,762 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Strategic Financial Concepts LLC increased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 13,334.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 281,860 shares of the bank’s stock after acquiring an additional 279,762 shares during the period. Strategic Financial Concepts LLC’s holdings in Cullen/Frost Bankers were worth $37,840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tidal Investments LLC raised its stake in shares of Cullen/Frost Bankers by 30.3% in the third quarter. Tidal Investments LLC now owns 18,689 shares of the bank’s stock worth $2,091,000 after purchasing an additional 4,348 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Cullen/Frost Bankers by 45.0% in the 3rd quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock worth $2,156,000 after buying an additional 5,981 shares in the last quarter. Barclays PLC increased its holdings in Cullen/Frost Bankers by 234.5% in the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank’s stock worth $48,814,000 after buying an additional 305,921 shares in the last quarter. Raymond James & Associates raised its position in Cullen/Frost Bankers by 10.0% in the 3rd quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock worth $13,361,000 after buying an additional 10,884 shares during the last quarter. Finally, Hancock Whitney Corp bought a new position in Cullen/Frost Bankers during the 3rd quarter valued at about $784,000. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Price Performance

NYSE CFR opened at $140.68 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.69 and a beta of 0.99. The company’s 50 day moving average is $137.57 and its two-hundred day moving average is $125.49.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, beating the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 16.04%. As a group, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.66 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $3.80 annualized dividend and a dividend yield of 2.70%. Cullen/Frost Bankers’s payout ratio is 42.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Maxim Group boosted their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods boosted their target price on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Compass Point raised their price target on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Stephens upped their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Citigroup raised their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $130.31.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now owns 94,423 shares in the company, valued at $13,026,597.08. The trade was a 13.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Bracher sold 11,500 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the transaction, the insider now owns 102,946 shares of the company’s stock, valued at approximately $14,355,819.70. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

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.