Cullen/Frost Bankers, Inc. (NYSE:CFR) Stake Increased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 3.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 806,209 shares of the bank's stock after buying an additional 25,909 shares during the quarter. Principal Financial Group Inc. owned approximately 1.25% of Cullen/Frost Bankers worth $90,185,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Keene & Associates Inc. lifted its position in shares of Cullen/Frost Bankers by 1.7% in the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank's stock valued at $586,000 after acquiring an additional 89 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Cullen/Frost Bankers by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank's stock valued at $150,000 after purchasing an additional 97 shares in the last quarter. First National Bank of Hutchinson boosted its stake in shares of Cullen/Frost Bankers by 1.6% during the 1st quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank's stock worth $713,000 after purchasing an additional 102 shares during the last quarter. Asset Dedication LLC grew its holdings in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank's stock worth $30,000 after buying an additional 105 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Cullen/Frost Bankers by 18.5% in the third quarter. GAMMA Investing LLC now owns 678 shares of the bank's stock valued at $76,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Trading Up 0.8 %

Shares of Cullen/Frost Bankers stock traded up $1.12 during trading hours on Friday, hitting $139.17. The company's stock had a trading volume of 432,013 shares, compared to its average volume of 457,448. The business has a fifty day moving average of $117.90 and a 200 day moving average of $109.83. Cullen/Frost Bankers, Inc. has a 1-year low of $91.24 and a 1-year high of $144.19. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $8.93 billion, a PE ratio of 17.27, a P/E/G ratio of 1.74 and a beta of 0.98.

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

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.73%. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 47.15%.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares of the company's stock, valued at approximately $3,367,550.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CFR. Stephens lifted their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. DA Davidson lifted their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Truist Financial reduced their target price on 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. Wedbush decreased their price target on 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. Finally, Morgan Stanley dropped their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating for the company in a research note on Monday, September 30th. Four investment 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.com, Cullen/Frost Bankers has an average rating of "Hold" and a consensus target price 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.