Teza Capital Management LLC Makes New Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Teza Capital Management LLC acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,281 shares of the bank’s stock, valued at approximately $1,380,000.

Several other hedge funds also recently modified their holdings of CFR. Norges Bank acquired a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth approximately $69,591,000. Madison Investment Advisors LLC acquired a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth approximately $46,223,000. Barclays PLC increased its holdings in shares of Cullen/Frost Bankers by 234.5% during the third quarter. Barclays PLC now owns 436,393 shares of the bank’s stock worth $48,814,000 after buying an additional 305,921 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Cullen/Frost Bankers by 13,334.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 281,860 shares of the bank’s stock worth $37,840,000 after buying an additional 279,762 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Cullen/Frost Bankers by 33.7% during the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank’s stock worth $130,703,000 after buying an additional 245,458 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. DA Davidson lowered shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and raised their price target for the company from $138.00 to $143.00 in a report on Monday, February 3rd. Morgan Stanley lowered their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, March 13th. Barclays raised their price target on shares of Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Finally, Evercore ISI raised shares of Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 price target for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $132.14.

Insider Transactions at Cullen/Frost Bankers

In related news, CAO Matthew Bradley Henson acquired 1,870 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average cost of $16.93 per share, with a total value of $31,659.10. Following the transaction, the chief accounting officer now owns 5,545 shares of the company’s stock, valued at $93,876.85. The trade was a 50.88% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Trading Up 0.7%

Shares of NYSE CFR opened at $131.32 on Monday. The company’s fifty day moving average is $119.05 and its 200-day moving average is $131.13. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 6.46 and a beta of 0.67. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $147.64. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.13. The company had revenue of $560.42 million for the quarter, compared to analysts’ expectations of $540.57 million. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. During the same period last year, the firm posted $2.15 earnings per share. Equities research analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.05%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Friday, May 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 43.91%.

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.