Jupiter Topco LLC bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 610,241 shares of the bank’s stock, valued at approximately $94,297,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CFR. Advisory Services Network LLC acquired a new stake in Cullen/Frost Bankers in the third quarter valued at $28,000. Covestor Ltd raised its holdings in shares of Cullen/Frost Bankers by 67.6% in the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at about $37,000. Global Retirement Partners LLC acquired a new stake in Cullen/Frost Bankers in the 2nd quarter valued at about $38,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Cullen/Frost Bankers in the 1st quarter valued at about $41,000. 86.90% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Stephens boosted their price target on Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Barclays raised their price objective on Cullen/Frost Bankers from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Citigroup boosted their target price on Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Weiss Ratings restated a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada raised their price target on Cullen/Frost Bankers from $168.00 to $176.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $161.75.
Cullen/Frost Bankers Stock Performance
NYSE:CFR opened at $163.60 on Thursday. The stock has a 50 day simple moving average of $160.72 and a 200 day simple moving average of $147.15. The stock has a market cap of $10.17 billion, a P/E ratio of 15.46, a PEG ratio of 2.50 and a beta of 0.53. Cullen/Frost Bankers, Inc. has a 1-year low of $119.00 and a 1-year high of $170.80. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05.
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.The firm had revenue of $576.01 million for the quarter, compared to analysts’ expectations of $589.72 million. During the same quarter last year, the business earned $2.39 EPS. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.9 earnings per share for the current year.
Cullen/Frost Bankers Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 38.94%.
Insider Activity at Cullen/Frost Bankers
In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president owned 12,712 shares in the company, valued at $1,885,062.48. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.14% of the company’s stock.
About Cullen/Frost Bankers
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.
Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.
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