Titleist Asset Management LLC purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,165 shares of the bank’s stock, valued at approximately $649,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Macquarie Group Ltd. bought a new stake in Cullen/Frost Bankers in the 1st quarter valued at $25,000. Ellevest Inc. lifted its holdings in shares of Cullen/Frost Bankers by 687.1% in the first quarter. Ellevest Inc. now owns 244 shares of the bank’s stock valued at $26,000 after purchasing an additional 213 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at about $26,000. Clearstead Advisors LLC acquired a new position in shares of Cullen/Frost Bankers during the first quarter worth about $29,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Cullen/Frost Bankers during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 81.39% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Cullen/Frost Bankers from $130.00 to $135.00 in a research note on Thursday, June 29th. Stephens reduced their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, July 28th. Wedbush lowered their price target on shares of Cullen/Frost Bankers from $120.00 to $112.00 and set a “neutral” rating on the stock in a research note on Friday, July 28th. StockNews.com initiated coverage on shares of Cullen/Frost Bankers in a research note on Thursday, August 17th. They set a “sell” rating for the company. Finally, Morgan Stanley decreased their price objective on Cullen/Frost Bankers from $121.00 to $116.00 in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $124.60.
Cullen/Frost Bankers Stock Down 0.7 %
Shares of CFR stock opened at $94.96 on Thursday. Cullen/Frost Bankers, Inc. has a 52-week low of $90.71 and a 52-week high of $160.60. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.04 and a beta of 1.06. The firm’s 50-day moving average is $103.28 and its 200-day moving average is $105.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.57 and a current ratio of 0.57.
Cullen/Frost Bankers (NYSE:CFR – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Cullen/Frost Bankers had a return on equity of 22.93% and a net margin of 29.14%. The firm had revenue of $512.12 million for the quarter, compared to the consensus estimate of $496.85 million. During the same quarter in the previous year, the business earned $1.81 earnings per share. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 9.27 EPS for the current year.
Cullen/Frost Bankers Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.92 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.87. The ex-dividend date is Wednesday, August 30th. This represents a $3.68 annualized dividend and a yield of 3.88%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 34.49%.
Cullen/Frost Bankers Profile
Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, 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.
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