Federated Hermes Inc. Acquires 952 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Federated Hermes Inc. increased its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 13.9% in the 4th quarter, Holdings Channel reports. The fund owned 7,777 shares of the bank’s stock after buying an additional 952 shares during the quarter. Federated Hermes Inc.’s holdings in Cullen/Frost Bankers were worth $844,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Anchor Investment Management LLC bought a new position in shares of Cullen/Frost Bankers in the 4th quarter worth about $1,069,000. Hsbc Holdings PLC bought a new stake in Cullen/Frost Bankers during the 3rd quarter valued at about $1,302,000. Raymond James & Associates increased its stake in Cullen/Frost Bankers by 15.1% during the 3rd quarter. Raymond James & Associates now owns 203,802 shares of the bank’s stock valued at $18,589,000 after purchasing an additional 26,670 shares in the last quarter. Aigen Investment Management LP bought a new stake in Cullen/Frost Bankers during the 3rd quarter valued at about $530,000. Finally, Sei Investments Co. increased its stake in Cullen/Frost Bankers by 5.8% during the 3rd quarter. Sei Investments Co. now owns 314,657 shares of the bank’s stock valued at $28,700,000 after purchasing an additional 17,141 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Performance

CFR opened at $105.35 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.32 and a beta of 1.03. The company’s 50 day moving average is $108.99 and its 200 day moving average is $104.19. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same period in the prior year, the business earned $2.70 EPS. On average, equities research analysts predict that Cullen/Frost Bankers, Inc. will post 8.42 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 3.49%. The ex-dividend date is Friday, May 31st. Cullen/Frost Bankers’s dividend payout ratio is presently 43.50%.

Insider Buying and Selling

In related news, EVP Bobby Berman sold 1,312 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the sale, the executive vice president now owns 27,815 shares in the company, valued at $2,934,204.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the sale, the insider now owns 96,380 shares in the company, valued at $10,543,972. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bobby Berman sold 1,312 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the transaction, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Compass Point lowered shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Royal Bank of Canada restated a “sector perform” rating and set a $118.00 price objective on shares of Cullen/Frost Bankers in a research note on Tuesday, April 9th. Morgan Stanley raised their price objective on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Stephens lifted their price target on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $117.46.

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.