VELA Investment Management LLC Has $1.91 Million Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

VELA Investment Management LLC lifted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 578.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,055 shares of the bank's stock after buying an additional 14,541 shares during the period. VELA Investment Management LLC's holdings in Cullen/Frost Bankers were worth $1,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in CFR. Tidal Investments LLC increased its holdings in Cullen/Frost Bankers by 125.2% in the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank's stock valued at $1,338,000 after purchasing an additional 6,610 shares during the last quarter. Natixis acquired a new stake in Cullen/Frost Bankers in the 1st quarter valued at approximately $957,000. Norden Group LLC acquired a new stake in Cullen/Frost Bankers in the 1st quarter valued at approximately $1,062,000. American Century Companies Inc. increased its holdings in Cullen/Frost Bankers by 11.9% in the 2nd quarter. American Century Companies Inc. now owns 68,296 shares of the bank's stock valued at $6,941,000 after purchasing an additional 7,236 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in Cullen/Frost Bankers by 10.0% in the 3rd quarter. Raymond James & Associates now owns 119,447 shares of the bank's stock valued at $13,361,000 after purchasing an additional 10,884 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Trading Down 1.1 %

Shares of Cullen/Frost Bankers stock traded down $1.37 during trading hours on Friday, hitting $125.98. The company's stock had a trading volume of 637,622 shares, compared to its average volume of 536,240. Cullen/Frost Bankers, Inc. has a 1-year low of $90.94 and a 1-year high of $135.00. The business has a fifty day moving average of $115.61 and a 200 day moving average of $109.00. The company has a market capitalization of $8.07 billion, a PE ratio of 15.63, a P/E/G ratio of 1.56 and a beta of 0.98. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $0.08. Cullen/Frost Bankers had a net margin of 23.98% and a return on equity of 16.34%. The firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. During the same period in the prior year, the firm posted $2.38 EPS. The firm's revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.57 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.02%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 47.15%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial decreased their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating for the company in a research report on Friday, September 20th. Stephens boosted their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an "equal weight" rating in a research report on Friday. DA Davidson boosted their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price objective on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, Wedbush dropped their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $123.31.

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.