65,735 Shares in Cullen/Frost Bankers, Inc. $CFR Purchased by Strs Ohio

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 acquired a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 65,735 shares of the bank's stock, valued at approximately $8,230,000. Strs Ohio owned approximately 0.10% of Cullen/Frost Bankers at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bayforest Capital Ltd purchased a new stake in Cullen/Frost Bankers in the 1st quarter worth about $241,000. State of Alaska Department of Revenue increased its position in Cullen/Frost Bankers by 2.9% in the 1st quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank's stock worth $942,000 after purchasing an additional 210 shares during the last quarter. Victory Capital Management Inc. increased its position in Cullen/Frost Bankers by 55.9% in the 1st quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank's stock worth $2,264,000 after purchasing an additional 6,484 shares during the last quarter. Norden Group LLC acquired a new position in Cullen/Frost Bankers in the 1st quarter worth about $214,000. Finally, UMB Bank n.a. increased its position in Cullen/Frost Bankers by 59.6% in the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after purchasing an additional 146 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Price Performance

Shares of CFR stock opened at $127.55 on Friday. The stock has a 50 day moving average of $130.43 and a two-hundred day moving average of $125.90. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $147.64. The company has a market capitalization of $8.20 billion, a P/E ratio of 13.73, a P/E/G ratio of 2.69 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, topping the consensus estimate of $2.28 by $0.11. The business had revenue of $567.83 million during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $2.21 EPS. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is 43.06%.

Analyst Upgrades and Downgrades

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

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. 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.

Want to see what other hedge funds are holding CFR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.