Cary Street Partners Financial LLC Invests $866,000 in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Key Points

• Cary Street Partners Financial LLC has acquired a new stake in Cullen/Frost Bankers, buying 6,914 shares valued at approximately $866,000.
• Cullen/Frost Bankers has received mixed reviews from analysts, with upgrades from Evercore ISI and price target reductions from firms like Royal Bank of Canada and Raymond James.
• The bank recently declared a quarterly dividend of $1.00 per share, representing a 3.3% yield and an annualized amount of $4.00.

Cary Street Partners Financial LLC bought 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 (SEC). The fund bought 6,914 shares of the bank's stock, valued at approximately $866,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of Cullen/Frost Bankers in the first quarter valued at about $30,000. UMB Bank n.a. raised its holdings in shares of Cullen/Frost Bankers by 59.6% in the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after buying an additional 146 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Cullen/Frost Bankers by 33.8% in the first quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock valued at $65,000 after buying an additional 132 shares during the last quarter. Reyes Financial Architecture Inc. raised its holdings in shares of Cullen/Frost Bankers by 38.5% in the first quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank's stock valued at $159,000 after buying an additional 354 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CFR shares. 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. Royal Bank Of Canada cut their price target on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Barclays cut 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. Evercore ISI upgraded shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price on the stock in a research report on Friday, May 2nd. Finally, Raymond James Financial lowered their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers has a consensus rating of "Hold" and a consensus price target of $133.71.

Cullen/Frost Bankers Trading Up 1.6%

NYSE:CFR traded up $1.91 during trading hours on Tuesday, reaching $123.91. 87,863 shares of the company were exchanged, compared to its average volume of 435,367. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.60 and a beta of 0.70. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $147.64. The stock has a 50 day simple moving average of $130.33 and a 200 day simple moving average of $127.88.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $567.83 million for the quarter, compared to the consensus estimate of $552.04 million. During the same quarter last year, the firm posted $2.21 EPS. As a group, analysts predict 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 will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 3.2%. Cullen/Frost Bankers's payout ratio is 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.