Los Angeles Capital Management LLC Makes New $4 Million Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Los Angeles Capital Management LLC purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,754 shares of the bank's stock, valued at approximately $3,999,000. Los Angeles Capital Management LLC owned approximately 0.06% of Cullen/Frost Bankers at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CFR. Covestor Ltd lifted its stake in Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank's stock valued at $25,000 after acquiring an additional 141 shares during the period. Asset Dedication LLC lifted its holdings in shares of Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank's stock valued at $30,000 after acquiring an additional 105 shares in the last quarter. Allworth Financial LP boosted its stake in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank's stock valued at $50,000 after acquiring an additional 239 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $52,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Cullen/Frost Bankers during the second quarter valued at about $54,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Performance

NYSE:CFR traded down $2.32 during trading hours on Wednesday, reaching $138.66. The stock had a trading volume of 502,587 shares, compared to its average volume of 458,240. The stock has a 50 day simple moving average of $119.63 and a 200 day simple moving average of $110.45. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $144.89. The stock has a market cap of $8.89 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 1.70 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm had revenue of $518.04 million during the quarter, compared to analysts' expectations of $517.25 million. During the same quarter in the previous year, the business earned $2.38 EPS. The company's quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.74%. Cullen/Frost Bankers's dividend payout ratio is presently 47.15%.

Insider Buying and Selling

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares in the company, valued at $399,525.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the transaction, the executive vice president now directly owns 2,888 shares of the company's stock, valued at $399,525.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Truist Financial dropped their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating on the stock in a research report on Friday, September 20th. Evercore ISI decreased their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating on the stock in a report on Wednesday, October 2nd. Compass Point boosted their price target on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Wedbush cut their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating for the company in a report on Tuesday, September 24th. Finally, Citigroup raised their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a "sell" rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of "Hold" and an average price target of $123.86.

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.