First Citizens Bank & Trust Co. Invests $604,000 in Cullen/Frost Bankers, Inc. $CFR

First Citizens Bank & Trust Co. purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,698 shares of the bank’s stock, valued at approximately $604,000.

A number of other hedge funds have also bought and sold shares of CFR. GAMMA Investing LLC lifted its holdings in shares of Cullen/Frost Bankers by 877.5% during the 1st quarter. GAMMA Investing LLC now owns 8,035 shares of the bank’s stock worth $1,006,000 after acquiring an additional 7,213 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Cullen/Frost Bankers by 1.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,682 shares of the bank’s stock worth $962,000 after purchasing an additional 134 shares during the last quarter. Sovran Advisors LLC lifted its stake in Cullen/Frost Bankers by 66.8% in the first quarter. Sovran Advisors LLC now owns 7,007 shares of the bank’s stock worth $877,000 after purchasing an additional 2,807 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of Cullen/Frost Bankers by 41.7% in the first quarter. Avidian Wealth Enterprises LLC now owns 3,425 shares of the bank’s stock valued at $429,000 after acquiring an additional 1,008 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of Cullen/Frost Bankers by 9.4% in the first quarter. Teacher Retirement System of Texas now owns 14,432 shares of the bank’s stock valued at $1,807,000 after acquiring an additional 1,236 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CFR shares. Barclays decreased their price objective on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Raymond James Financial reduced their price target on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, August 4th. Royal Bank Of Canada upped their price objective on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Thursday, September 25th. Finally, Evercore ISI upped their price objective on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $137.62.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $124.97 on Friday. The firm has a fifty day moving average price of $127.06 and a 200-day moving average price of $126.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $8.04 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 3.03 and a beta of 0.71. Cullen/Frost Bankers, Inc. has a 1 year low of $100.31 and a 1 year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.11. The company had revenue of $567.83 million during the quarter, compared to analysts’ expectations of $552.04 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same period last year, the company posted $2.21 earnings per share. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.2%. Cullen/Frost Bankers’s payout ratio is currently 43.06%.

Cullen/Frost Bankers Company Profile

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.