AQR Capital Management LLC Buys 49,975 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• AQR Capital Management LLC increased its stake in Cullen/Frost Bankers by 33.1%, acquiring an additional 49,975 shares to own a total of 201,151 shares worth approximately $24.89 million.
• Cullen/Frost Bankers announced a quarterly dividend of $1.00 to be paid on September 15th, representing an annualized dividend yield of 3.1%.
• The bank reported quarterly earnings of $2.39 per share, exceeding estimates, and had a net margin of 21.20% for the quarter.

AQR Capital Management LLC grew its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 33.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 201,151 shares of the bank's stock after acquiring an additional 49,975 shares during the quarter. AQR Capital Management LLC owned 0.31% of Cullen/Frost Bankers worth $24,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CFR shares. Raymond James Financial cut their price target on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Monday, August 4th. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price target on the stock. Barclays cut their price target on shares of 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. Finally, Cantor Fitzgerald started coverage on shares of Cullen/Frost Bankers in a report on Wednesday. They issued a "neutral" rating and a $138.00 price target on the stock. Two equities research 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. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $134.00.

Cullen/Frost Bankers Stock Performance

NYSE CFR traded down $0.46 during trading on Friday, hitting $127.55. 311,366 shares of the company's stock traded hands, compared to its average volume of 434,970. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 2.69 and a beta of 0.74. Cullen/Frost Bankers, Inc. has a 12-month low of $100.31 and a 12-month high of $147.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. The business has a 50 day moving average of $130.43 and a 200-day moving average of $125.90.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, beating the consensus estimate of $2.28 by $0.11. The business had revenue of $567.83 million for the quarter, compared to the consensus estimate of $552.04 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same period in the prior year, the firm earned $2.21 earnings per share. As a group, equities research analysts anticipate 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 given a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 3.1%. Cullen/Frost Bankers's dividend payout ratio is currently 43.06%.

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.