Bartlett & CO. Wealth Management LLC Acquires 10,689 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Bartlett & CO. Wealth Management LLC acquired an additional 10,689 shares of Cullen/Frost Bankers, Inc., increasing its holdings by 2.9% to a total of 382,437 shares, valued at approximately $49.16 million.
• Cullen/Frost Bankers recently reported quarterly earnings of $2.39 per share, beating the consensus estimate by $0.11, with total revenue of $567.83 million.
• The company declared a quarterly dividend of $1.00 per share, representing an annual yield of 3.2%, with a payout ratio of 43.06%.

Bartlett & CO. Wealth Management LLC increased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 2.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 382,437 shares of the bank's stock after acquiring an additional 10,689 shares during the period. Bartlett & CO. Wealth Management LLC owned about 0.59% of Cullen/Frost Bankers worth $49,159,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CFR. Cardinal Capital Management raised its position in Cullen/Frost Bankers by 0.5% during the 2nd quarter. Cardinal Capital Management now owns 17,824 shares of the bank's stock valued at $2,291,000 after purchasing an additional 81 shares in the last quarter. LaSalle St. Investment Advisors LLC raised its position in Cullen/Frost Bankers by 4.0% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,165 shares of the bank's stock valued at $271,000 after purchasing an additional 84 shares in the last quarter. HB Wealth Management LLC raised its position in Cullen/Frost Bankers by 5.7% during the 1st quarter. HB Wealth Management LLC now owns 1,897 shares of the bank's stock valued at $238,000 after purchasing an additional 102 shares in the last quarter. 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 valued at $46,000 after purchasing an additional 106 shares in the last quarter. Finally, Xponance Inc. increased its holdings in shares of Cullen/Frost Bankers by 1.6% in the 1st quarter. Xponance Inc. now owns 7,207 shares of the bank's stock valued at $902,000 after acquiring an additional 113 shares during the period. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Stock Down 0.5%

Cullen/Frost Bankers stock opened at $126.67 on Wednesday. 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's 50-day simple moving average is $128.04 and its two-hundred day simple moving average is $125.77. The company has a market cap of $8.15 billion, a PE ratio of 13.64, a PEG ratio of 2.67 and a beta of 0.74. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly 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. 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 return on equity of 15.46% and a net margin of 21.20%.During the same quarter in the previous year, the business earned $2.21 EPS. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared 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. This represents a $4.00 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 29th. Cullen/Frost Bankers's payout ratio is presently 43.06%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TD Cowen raised Cullen/Frost Bankers to a "strong-buy" rating in a research report on Thursday, September 25th. Evercore ISI increased their price target on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an "in-line" rating in a research report on Tuesday. Morgan Stanley lifted their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "underweight" rating in a research report on Monday. Raymond James Financial decreased their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Finally, Barclays lowered their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of "Hold" and a consensus price target of $137.31.

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.

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.