Strs Ohio Takes $8.23 Million Position in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Strs Ohio purchased 65,735 shares of Cullen/Frost Bankers, Inc. for approximately $8.23 million, acquiring about 0.10% of the company.
• Cullen/Frost Bankers reported an earnings per share (EPS) of $2.39, exceeding expectations, alongside a revenue of $567.83 million for the last quarter.
• The bank announced a quarterly dividend of $1.00 per share, leading to an annualized dividend yield of 3.1%.

Strs Ohio purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 65,735 shares of the bank's stock, valued at approximately $8,230,000. Strs Ohio owned 0.10% of Cullen/Frost Bankers at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in Cullen/Frost Bankers by 40.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank's stock worth $46,000 after buying an additional 106 shares during the last quarter. Bayforest Capital Ltd purchased a new position in Cullen/Frost Bankers during the 1st quarter worth $241,000. SCS Capital Management LLC purchased a new position in Cullen/Frost Bankers during the 1st quarter worth $205,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Cullen/Frost Bankers by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank's stock valued at $20,896,000 after purchasing an additional 15,063 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at about $1,352,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Up 2.0%

Shares of NYSE:CFR traded up $2.58 during midday trading on Thursday, reaching $128.77. The company had a trading volume of 336,223 shares, compared to its average volume of 404,500. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The stock's fifty day moving average price is $129.66 and its 200-day moving average price is $125.72. The stock has a market capitalization of $8.28 billion, a P/E ratio of 13.86, a PEG ratio of 2.65 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results 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. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The firm had revenue of $567.83 million during the quarter, compared to analyst estimates of $552.04 million. During the same quarter in the previous year, the firm earned $2.21 earnings per share. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 3.1%. Cullen/Frost Bankers's payout ratio is presently 43.06%.

Wall Street Analysts Forecast Growth

CFR has been the subject of several recent research reports. Cantor Fitzgerald started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They set a "neutral" rating and a $138.00 target price for the company. Barclays lowered their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price target for the company. Finally, Raymond James Financial lowered their price target on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $134.00.

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.