Bridgewater Associates LP Has $2.40 Million Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bridgewater Associates LP increased its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 13.2% in the second quarter, Holdings Channel reports. The institutional investor owned 21,449 shares of the bank’s stock after buying an additional 2,503 shares during the period. Bridgewater Associates LP’s holdings in Cullen/Frost Bankers were worth $2,402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CFR. Northern Trust Corp raised its position in shares of Cullen/Frost Bankers by 13.3% in the first quarter. Northern Trust Corp now owns 539,863 shares of the bank’s stock valued at $58,716,000 after buying an additional 63,531 shares in the last quarter. Citigroup Inc. raised its position in shares of Cullen/Frost Bankers by 173.3% in the first quarter. Citigroup Inc. now owns 88,574 shares of the bank’s stock valued at $9,633,000 after buying an additional 56,159 shares in the last quarter. Barclays PLC raised its position in shares of Cullen/Frost Bankers by 197.2% in the first quarter. Barclays PLC now owns 64,288 shares of the bank’s stock valued at $6,992,000 after buying an additional 42,655 shares in the last quarter. Royal Bank of Canada raised its position in shares of Cullen/Frost Bankers by 18.0% in the first quarter. Royal Bank of Canada now owns 201,474 shares of the bank’s stock valued at $21,913,000 after buying an additional 30,684 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Cullen/Frost Bankers by 4.7% in the first quarter. Geode Capital Management LLC now owns 675,083 shares of the bank’s stock valued at $73,422,000 after buying an additional 30,380 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

Shares of Cullen/Frost Bankers stock opened at $121.23 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a twelve month low of $64.62 and a twelve month high of $125.00. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 1.80 and a beta of 1.47. The company’s fifty day moving average is $115.74 and its 200 day moving average is $114.55.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Wednesday, July 28th. The bank reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.24. Cullen/Frost Bankers had a net margin of 30.49% and a return on equity of 10.07%. The company had revenue of $371.24 million for the quarter, compared to analysts’ expectations of $357.97 million. As a group, equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 6.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st were paid a $0.75 dividend. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, August 30th. This represents a $3.00 annualized dividend and a dividend yield of 2.47%. Cullen/Frost Bankers’s payout ratio is currently 80.43%.

Several research analysts have commented on the stock. Truist Securities boosted their price objective on shares of Cullen/Frost Bankers from $117.00 to $130.00 and gave the company a “hold” rating in a research report on Friday, October 1st. Truist boosted their price objective on shares of Cullen/Frost Bankers from $117.00 to $130.00 and gave the company a “hold” rating in a research report on Friday, October 1st. They noted that the move was a valuation call. Finally, Maxim Group restated a “buy” rating and set a $144.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, July 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $111.29.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services, as well as trust and investment management, mutual funds, investment banking, insurance, brokerage, leasing, asset-based lending, treasury management and item processing services.

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Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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