Cullen/Frost Bankers, Inc. $CFR Stock Holdings Lifted by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC grew its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 14.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 63,071 shares of the bank’s stock after acquiring an additional 7,911 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $8,107,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CFR. GAMMA Investing LLC lifted its holdings in shares of Cullen/Frost Bankers by 877.5% during the first quarter. GAMMA Investing LLC now owns 8,035 shares of the bank’s stock valued at $1,006,000 after purchasing an additional 7,213 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Cullen/Frost Bankers by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank’s stock valued at $942,000 after purchasing an additional 210 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Cullen/Frost Bankers by 5.7% during the first quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank’s stock valued at $139,282,000 after purchasing an additional 60,187 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Cullen/Frost Bankers by 1.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,682 shares of the bank’s stock valued at $962,000 after purchasing an additional 134 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Cullen/Frost Bankers during the first quarter valued at $30,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Down 1.7%

Shares of Cullen/Frost Bankers stock opened at $126.81 on Thursday. The stock has a 50-day moving average price of $127.14 and a 200 day moving average price of $125.95. The company has a market cap of $8.16 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.13 and a beta of 0.71. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. 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 issued its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.The company had revenue of $567.83 million for the quarter, compared to analyst estimates of $552.04 million. During the same period in the prior year, the firm posted $2.21 EPS. As a group, analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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

Wall Street Analysts Forecast Growth

CFR has been the subject of several analyst reports. Cantor Fitzgerald initiated coverage on Cullen/Frost Bankers in a report on Wednesday, September 10th. They set a “neutral” rating and a $138.00 target price for the company. Evercore ISI upped their target price on Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Raymond James Financial reduced their price objective on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. Morgan Stanley increased their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Finally, Royal Bank Of Canada increased their price objective on Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. One research 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $137.62.

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.