Nuveen LLC Acquires Shares of 102,917 Cullen/Frost Bankers, Inc. $CFR

Key Points

• Nuveen LLC acquired 102,917 shares of Cullen/Frost Bankers, Inc. valued at approximately $12.9 million, giving them about 0.16% ownership in the bank.
• Over 86% of Cullen/Frost Bankers' stock is held by institutional investors, with several hedge funds, including Mariner LLC and NewEdge Advisors LLC, significantly increasing their positions recently.
• The bank recently announced a quarterly dividend of $1.00 per share, representing an annualized yield of 3.2% and a payout ratio of 43.06%.

Nuveen LLC acquired a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 102,917 shares of the bank's stock, valued at approximately $12,885,000. Nuveen LLC owned about 0.16% of Cullen/Frost Bankers as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in CFR. Alpine Bank Wealth Management acquired a new position in shares of Cullen/Frost Bankers during the first quarter valued at about $30,000. UMB Bank n.a. raised its position in shares of Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after buying an additional 146 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in Cullen/Frost Bankers in the first quarter valued at about $58,000. Parallel Advisors LLC increased its stake in Cullen/Frost Bankers by 33.8% in the first quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock valued at $65,000 after acquiring an additional 132 shares during the period. Finally, Reyes Financial Architecture Inc. increased its stake in Cullen/Frost Bankers by 38.5% in the first quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank's stock valued at $159,000 after acquiring an additional 354 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Price Performance

Shares of CFR traded up $0.34 during mid-day trading on Wednesday, hitting $132.26. 785,821 shares of the company traded hands, compared to its average volume of 535,981. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average of $130.62 and a 200 day moving average of $127.04. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 2.77 and a beta of 0.70.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, beating the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The business had revenue of $567.83 million for the quarter, compared to analysts' expectations of $552.04 million. During the same period in the prior year, the firm earned $2.21 earnings per share. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio is 43.06%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CFR shares. Royal Bank Of Canada lowered their target price on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price on the stock in a research note on Friday, May 2nd. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 target price on the stock. Barclays lowered their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Raymond James Financial lowered their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $133.71.

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.