Cullen/Frost Bankers, Inc. $CFR Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,154,566 shares of the bank’s stock after purchasing an additional 9,332 shares during the quarter. Geode Capital Management LLC’s holdings in Cullen/Frost Bankers were worth $149,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its position in Cullen/Frost Bankers by 8,800.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 267 shares of the bank’s stock valued at $34,000 after acquiring an additional 264 shares during the period. eCIO Inc. bought a new position in shares of Cullen/Frost Bankers in the first quarter worth $36,000. Geneos Wealth Management Inc. grew its stake in shares of Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after purchasing an additional 106 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Cullen/Frost Bankers during the first quarter valued at $57,000. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in shares of Cullen/Frost Bankers during the first quarter valued at about $58,000. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CFR has been the subject of a number of recent analyst reports. Citigroup increased their target price on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a research report on Friday, October 31st. Morgan Stanley increased their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Royal Bank Of Canada boosted their target price on Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Evercore ISI upped their target price on Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, TD Cowen upgraded Cullen/Frost Bankers to a “strong-buy” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $136.75.

Cullen/Frost Bankers Price Performance

NYSE CFR opened at $120.64 on Wednesday. Cullen/Frost Bankers, Inc. has a 1 year low of $100.31 and a 1 year high of $147.64. The business’s fifty day moving average is $125.12 and its two-hundred day moving average is $127.80. The stock has a market capitalization of $7.71 billion, a P/E ratio of 12.99, a P/E/G ratio of 2.94 and a beta of 0.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.29. The business had revenue of $567.27 million for the quarter, compared to analysts’ expectations of $565.54 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.During the same period in the previous year, the firm posted $2.24 EPS. On average, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $4.00 dividend on an annualized basis and a yield of 3.3%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 41.15%.

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.