Bank of Montreal Can Purchases New Shares in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bank of Montreal Can purchased a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,775 shares of the bank’s stock, valued at approximately $1,903,000.

Several other hedge funds also recently made changes to their positions in CFR. Macquarie Group Ltd. bought a new stake in Cullen/Frost Bankers in the first quarter worth $25,000. Ellevest Inc. boosted its holdings in Cullen/Frost Bankers by 687.1% in the first quarter. Ellevest Inc. now owns 244 shares of the bank’s stock worth $26,000 after acquiring an additional 213 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Cullen/Frost Bankers in the fourth quarter worth $26,000. Clearstead Advisors LLC bought a new stake in Cullen/Frost Bankers in the first quarter worth $29,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Cullen/Frost Bankers by 53.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 323 shares of the bank’s stock worth $35,000 after acquiring an additional 113 shares in the last quarter. 81.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CFR has been the subject of several recent analyst reports. Truist Financial decreased their price target on Cullen/Frost Bankers from $113.00 to $97.00 and set a “hold” rating for the company in a research note on Wednesday, September 27th. Royal Bank of Canada decreased their price target on Cullen/Frost Bankers from $122.00 to $108.00 in a research note on Tuesday, October 10th. Wedbush decreased their price target on Cullen/Frost Bankers from $120.00 to $112.00 and set a “neutral” rating for the company in a research note on Friday, July 28th. Jefferies Financial Group decreased their price target on Cullen/Frost Bankers from $111.00 to $98.00 in a research note on Tuesday, October 10th. Finally, DA Davidson decreased their price target on Cullen/Frost Bankers from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $114.00.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $94.83 on Thursday. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.06. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $91.84 and a 200-day moving average price of $100.48. Cullen/Frost Bankers, Inc. has a twelve month low of $82.25 and a twelve month high of $160.07.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 26th. The bank reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.24. Cullen/Frost Bankers had a return on equity of 22.13% and a net margin of 26.78%. During the same period last year, the business earned $2.59 earnings per share. As a group, equities research analysts predict that Cullen/Frost Bankers, Inc. will post 9.54 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Wednesday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 35.18%.

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. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, 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.