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

Truist Financial Corp lifted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 122.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 32,842 shares of the bank's stock after purchasing an additional 18,053 shares during the quarter. Truist Financial Corp owned 0.05% of Cullen/Frost Bankers worth $4,409,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. bought a new position in shares of Cullen/Frost Bankers in the third quarter valued at about $54,012,000. The Manufacturers Life Insurance Company raised its stake in shares of Cullen/Frost Bankers by 117.4% in the third quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank's stock worth $63,618,000 after acquiring an additional 307,129 shares during the last quarter. Barclays PLC lifted its position in shares of Cullen/Frost Bankers by 234.5% during the third quarter. Barclays PLC now owns 436,393 shares of the bank's stock worth $48,814,000 after purchasing an additional 305,921 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Cullen/Frost Bankers by 13,334.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 281,860 shares of the bank's stock valued at $37,840,000 after purchasing an additional 279,762 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in shares of Cullen/Frost Bankers by 7.7% in the third quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank's stock valued at $381,897,000 after purchasing an additional 244,445 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

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Insider Buying and Selling

In other news, insider Paul Bracher sold 11,500 shares of the firm'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 of the company's stock, valued at $14,355,819.70. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.89% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on CFR. Royal Bank of Canada reiterated a "sector perform" rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Evercore ISI raised their price target on Cullen/Frost Bankers from $136.00 to $144.00 and gave the company an "underperform" rating in a report on Monday, February 10th. Stephens lifted their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. Citigroup upped their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a "sell" rating in a research report on Monday, November 4th. Finally, Compass Point lifted their price target on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Hold" and a consensus target price of $132.54.

Cullen/Frost Bankers Trading Up 0.5 %

Cullen/Frost Bankers stock traded up $0.69 during mid-day trading on Thursday, hitting $136.41. 356,574 shares of the company's stock were exchanged, compared to its average volume of 449,260. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $8.76 billion, a P/E ratio of 15.38, a PEG ratio of 6.46 and a beta of 0.99. The company's 50 day simple moving average is $138.47 and its 200-day simple moving average is $128.41.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. On average, equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.80 annualized dividend and a yield of 2.79%. Cullen/Frost Bankers's dividend payout ratio is currently 42.84%.

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.