KLP Kapitalforvaltning AS Makes New $1.65 Million Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

KLP Kapitalforvaltning AS purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,300 shares of the bank's stock, valued at approximately $1,651,000.

A number of other large investors have also made changes to their positions in the stock. Arizona State Retirement System boosted its position in Cullen/Frost Bankers by 0.4% during the fourth quarter. Arizona State Retirement System now owns 17,651 shares of the bank's stock worth $2,370,000 after purchasing an additional 74 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Cullen/Frost Bankers by 3.7% in the fourth quarter. Ballentine Partners LLC now owns 2,164 shares of the bank's stock valued at $291,000 after buying an additional 77 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Cullen/Frost Bankers by 45.8% during the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank's stock worth $33,000 after buying an additional 77 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Cullen/Frost Bankers by 4.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,187 shares of the bank's stock worth $294,000 after buying an additional 89 shares in the last quarter. Finally, First Dallas Securities Inc. grew its stake in Cullen/Frost Bankers by 2.5% in the 4th quarter. First Dallas Securities Inc. now owns 4,028 shares of the bank's stock valued at $541,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

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Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of Cullen/Frost Bankers 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 transaction, the insider now directly owns 102,946 shares of the company's stock, valued at $14,355,819.70. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.

Cullen/Frost Bankers Trading Up 0.6 %

Shares of NYSE CFR traded up $0.72 on Wednesday, reaching $124.42. 441,968 shares of the company traded hands, compared to its average volume of 453,346. The stock has a market capitalization of $8.00 billion, a PE ratio of 14.03, a P/E/G ratio of 6.46 and a beta of 0.82. 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 current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $133.35 and a 200 day moving average of $131.37.

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

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Friday, February 28th. Cullen/Frost Bankers's payout ratio is currently 42.84%.

Wall Street Analyst Weigh In

CFR has been the subject of a number of research reports. Royal Bank of Canada restated a "sector perform" rating and set a $144.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. DA Davidson downgraded Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $138.00 to $143.00 in a research report on Monday, February 3rd. Barclays assumed coverage on Cullen/Frost Bankers in a research note on Tuesday. They issued an "equal weight" rating and a $130.00 target price on the stock. Morgan Stanley dropped their price target on Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a research report on Thursday, March 13th. Finally, Evercore ISI upped their price objective on Cullen/Frost Bankers from $136.00 to $144.00 and gave the company an "underperform" rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of "Hold" and a consensus target price of $132.57.

Cullen/Frost Bankers Company 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.