Cary Street Partners Financial LLC Takes Position 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 acquired a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,914 shares of the bank's stock, valued at approximately $866,000.

Several other hedge funds have also recently made changes to their positions in CFR. Boston Trust Walden Corp grew its position in Cullen/Frost Bankers by 5.7% in the 1st quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank's stock worth $139,282,000 after purchasing an additional 60,187 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Cullen/Frost Bankers by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,026,585 shares of the bank's stock worth $137,823,000 after acquiring an additional 6,159 shares during the period. GAMMA Investing LLC grew its holdings in shares of Cullen/Frost Bankers by 122,282.2% in the first quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock worth $125,949,000 after acquiring an additional 1,005,160 shares during the period. Northern Trust Corp increased its position in Cullen/Frost Bankers by 33.7% during the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock valued at $130,703,000 after acquiring an additional 245,458 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Cullen/Frost Bankers by 19.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 711,527 shares of the bank's stock valued at $89,083,000 after acquiring an additional 114,910 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CFR. Evercore ISI upgraded Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target for the company in a research note on Friday, May 2nd. Royal Bank Of Canada cut their target price on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Raymond James Financial decreased 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 research report on Monday. Barclays dropped 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 research note on Friday, August 1st. Finally, Jefferies Financial Group initiated coverage on Cullen/Frost Bankers in a report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 target price on the stock. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Hold" and an average price target of $133.71.

Cullen/Frost Bankers Trading Down 1.3%

Shares of Cullen/Frost Bankers stock opened at $122.10 on Friday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week 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 company has a market capitalization of $7.85 billion, a P/E ratio of 13.14, a P/E/G ratio of 2.61 and a beta of 0.70. The company has a fifty day moving average of $130.49 and a 200 day moving average of $128.31.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced 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. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%. The business had revenue of $567.83 million for the quarter, compared to the consensus estimate of $552.04 million. During the same period in the previous year, the business earned $2.21 earnings per share. On average, sell-side 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 firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio is presently 43.06%.

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.

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