United Services Automobile Association Takes $528,000 Position in Cullen/Frost Bankers, Inc. $CFR

Key Points

• United Services Automobile Association has purchased a new position in Cullen/Frost Bankers, acquiring 4,246 shares valued at approximately $528,000 during the first quarter.
• Wall Street analysts are mixed on Cullen/Frost Bankers, with ratings including two "Buy," ten "Hold," and three "Sell," and a consensus target price of $134.00.
• Cullen/Frost Bankers announced a quarterly dividend of $1.00 per share, representing an annualized yield of 3.2%, with a dividend payout ratio of 43.06%.

United Services Automobile Association acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,246 shares of the bank's stock, valued at approximately $528,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFR. GAMMA Investing LLC raised its holdings in shares of Cullen/Frost Bankers by 122,282.2% in the 1st quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock worth $125,949,000 after purchasing an additional 1,005,160 shares during the period. Impax Asset Management Group plc raised its holdings in shares of Cullen/Frost Bankers by 350.8% in the 1st quarter. Impax Asset Management Group plc now owns 518,387 shares of the bank's stock worth $64,359,000 after purchasing an additional 403,387 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank's stock worth $75,833,000 after purchasing an additional 230,993 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Cullen/Frost Bankers by 19.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 711,527 shares of the bank's stock worth $89,083,000 after purchasing an additional 114,910 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Cullen/Frost Bankers in the 1st quarter worth about $12,885,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Cullen/Frost Bankers in a report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price objective on the stock. Raymond James Financial reduced their price objective on 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. Cantor Fitzgerald started coverage on Cullen/Frost Bankers in a research note on Wednesday, September 10th. They set a "neutral" rating and a $138.00 price objective on the stock. Finally, Barclays reduced their price objective on 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. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $134.00.

Cullen/Frost Bankers Stock Down 2.2%

Shares of NYSE:CFR traded down $2.86 during trading on Tuesday, hitting $124.60. The company's stock had a trading volume of 66,391 shares, compared to its average volume of 438,494. 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, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64. The stock's 50-day moving average price is $130.27 and its two-hundred day moving average price is $125.76. The company has a market capitalization of $8.01 billion, a PE ratio of 13.41, a PEG ratio of 2.68 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.11. The firm had revenue of $567.83 million during the quarter, compared to analyst estimates of $552.04 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 company earned $2.21 earnings per share. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

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

About Cullen/Frost Bankers

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.