Cullen/Frost Bankers, Inc. $CFR Shares Sold by South Dakota Investment Council

06 Mar 2026, 13:14 by Kim Johansen · The Markets Daily

South Dakota Investment Council reduced its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) by 32.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,885 shares of the bank’s stock after selling 5,700 shares during the period. South Dakota Investment Council’s holdings in Cullen/Frost Bankers were worth $1,507,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CFR. Rafferty Asset Management LLC raised its position in shares of Cullen/Frost Bankers by 16.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 76,964 shares of the bank’s stock valued at $9,757,000 after buying an additional 10,727 shares during the period. Argent Trust Co increased its holdings in Cullen/Frost Bankers by 3.0% in the third quarter. Argent Trust Co now owns 53,511 shares of the bank’s stock valued at $6,784,000 after buying an additional 1,569 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Cullen/Frost Bankers during the 3rd quarter worth about $4,399,000. Aster Capital Management DIFC Ltd purchased a new stake in Cullen/Frost Bankers during the 3rd quarter worth about $286,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Cullen/Frost Bankers by 26.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 18,716 shares of the bank’s stock worth $2,373,000 after acquiring an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $137.70 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 5.13 and a beta of 0.63. The firm’s fifty day moving average price is $138.84 and its 200 day moving average price is $130.60. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $148.97.

Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last issued its earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.09. The business had revenue of $562.58 million for the quarter, compared to the consensus estimate of $578.05 million. Cullen/Frost Bankers had a net margin of 22.21% and a return on equity of 15.49%. During the same quarter in the previous year, the firm earned $2.36 earnings per share. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. Cullen/Frost Bankers’s dividend payout ratio is 40.32%.

Analysts Set New Price Targets

CFR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. DA Davidson lifted their price target on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Morgan Stanley raised their price objective on Cullen/Frost Bankers from $136.00 to $143.00 and gave the stock an “underweight” rating in a report on Monday. Barclays boosted their target price on Cullen/Frost Bankers from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Finally, Weiss Ratings upgraded Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $142.67.

Check Out Our Latest Research Report on Cullen/Frost Bankers

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,000 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $137.07, for a total value of $137,070.00. Following the completion of the transaction, the executive vice president directly owned 28,406 shares of the company’s stock, valued at approximately $3,893,610.42. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Coolidge E. Rhodes, Jr. sold 700 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total transaction of $88,900.00. Following the sale, the executive vice president owned 3,795 shares of the company’s stock, valued at approximately $481,965. The trade was a 15.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,700 shares of company stock worth $225,970. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Company Profile

(Free Report)

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.