2,890 Shares in Cullen/Frost Bankers, Inc. (NYSE:CFR) Acquired by Alps Advisors Inc.

Alps Advisors Inc. bought a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,890 shares of the bank's stock, valued at approximately $362,000.

Several other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in Cullen/Frost Bankers during the 1st quarter valued at approximately $30,000. UMB Bank n.a. boosted its position in Cullen/Frost Bankers by 59.6% during the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after acquiring an additional 146 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Cullen/Frost Bankers by 35.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock worth $62,000 after acquiring an additional 120 shares during the period. Parallel Advisors LLC boosted its position in Cullen/Frost Bankers by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock worth $65,000 after acquiring an additional 132 shares during the period. Finally, Focus Partners Wealth acquired a new position in Cullen/Frost Bankers during the 4th quarter worth $204,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Insiders Place Their Bets

In other news, CAO Matthew Bradley Henson bought 1,870 shares of the stock in a transaction dated Friday, May 2nd. The stock was bought at an average cost of $16.93 per share, with a total value of $31,659.10. Following the purchase, the chief accounting officer owned 5,545 shares of the company's stock, valued at approximately $93,876.85. This represents a 50.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 2.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CFR. Stephens boosted their price target on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Barclays boosted their price target on Cullen/Frost Bankers from $135.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Raymond James Financial upgraded Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a report on Tuesday, July 8th. 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 for the company. Finally, Evercore ISI upgraded Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective for the company in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of "Hold" and a consensus target price of $134.79.

Cullen/Frost Bankers Stock Up 0.1%

Shares of CFR traded up $0.18 during trading hours on Friday, hitting $138.71. 328,792 shares of the company were exchanged, compared to its average volume of 443,909. The company has a market cap of $8.92 billion, a PE ratio of 15.23, a PEG ratio of 2.94 and a beta of 0.68. The firm's 50 day moving average is $129.98 and its 200-day moving average is $128.87. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $147.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, beating the consensus estimate of $2.17 by $0.13. The firm had revenue of $560.42 million during the quarter, compared to analysts' expectations of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. During the same quarter in the prior year, the firm posted $2.15 EPS. On average, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.88%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Friday, May 30th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.91%.

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.