Concurrent Investment Advisors LLC Invests $550,000 in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Concurrent Investment Advisors LLC invested $550,000 in Cullen/Frost Bankers, acquiring 4,278 shares in the second quarter.
• Several analysts have adjusted their price targets for Cullen/Frost Bankers, with ranges from $135.00 to $144.00, and a general average rating of "Hold."
• Cullen/Frost Bankers recently announced a quarterly $1.00 dividend, reflecting a dividend yield of 3.3% and a payout ratio of 43.06%.

Concurrent Investment Advisors LLC acquired a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,278 shares of the bank's stock, valued at approximately $550,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CFR. GAMMA Investing LLC increased its stake in shares of Cullen/Frost Bankers by 877.5% in the first quarter. GAMMA Investing LLC now owns 8,035 shares of the bank's stock worth $1,006,000 after purchasing an additional 7,213 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Cullen/Frost Bankers by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank's stock worth $942,000 after purchasing an additional 210 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Cullen/Frost Bankers by 1.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,682 shares of the bank's stock valued at $962,000 after acquiring an additional 134 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in Cullen/Frost Bankers during the first quarter valued at $30,000. Finally, Bartlett & CO. Wealth Management LLC grew its stake in Cullen/Frost Bankers by 1.4% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 371,748 shares of the bank's stock valued at $46,543,000 after acquiring an additional 5,157 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CFR. Royal Bank Of Canada raised their target price on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the company a "sector perform" rating in a research note on Friday, October 10th. Evercore ISI raised their target price on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Barclays cut 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. TD Cowen raised shares of Cullen/Frost Bankers to a "strong-buy" rating in a research note on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cullen/Frost Bankers in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Cullen/Frost Bankers has an average rating of "Hold" and an average target price of $137.62.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR opened at $122.57 on Friday. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $147.64. The stock has a market capitalization of $7.88 billion, a P/E ratio of 13.19, a PEG ratio of 2.93 and a beta of 0.71. The firm has a fifty day simple moving average of $127.10 and a two-hundred day simple moving average of $125.91. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $552.04 million. During the same period last year, the company posted $2.21 EPS. On average, analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is 43.06%.

About Cullen/Frost Bankers

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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