Campbell & CO Investment Adviser LLC Increases Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Cullen/Frost Bankers by 367.3% during the first quarter, owning 30,467 shares valued at approximately $3.81 million.
• Cullen/Frost Bankers reported a quarterly earnings per share (EPS) of $2.39, surpassing estimates by $0.11, and had a revenue of $567.83 million for the quarter.
• The bank declared a quarterly dividend of $1.00 per share, equating to an annualized dividend of $4.00 and representing a yield of 3.1%.

Campbell & CO Investment Adviser LLC grew its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 367.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,467 shares of the bank's stock after purchasing an additional 23,947 shares during the period. Campbell & CO Investment Adviser LLC's holdings in Cullen/Frost Bankers were worth $3,814,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in Cullen/Frost Bankers in the 1st quarter worth approximately $30,000. UMB Bank n.a. boosted its position in Cullen/Frost Bankers by 59.6% in the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after purchasing an additional 146 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Cullen/Frost Bankers in the 1st quarter worth approximately $57,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Cullen/Frost Bankers in the 1st quarter worth approximately $58,000. Finally, Parallel Advisors LLC boosted its position in Cullen/Frost Bankers by 33.8% in the 1st quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock worth $65,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

CFR has been the subject of several research analyst reports. Stephens upped their target price on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price for the company in a research note on Friday, May 2nd. Jefferies Financial Group initiated coverage on Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an "underperform" rating and a $105.00 target price for the company. Royal Bank Of Canada reduced their target price on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Finally, Raymond James Financial reduced their target price on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of "Reduce" and a consensus price target of $133.71.

Cullen/Frost Bankers Trading Up 0.3%

Shares of CFR traded up $0.34 during midday trading on Wednesday, reaching $132.26. The company had a trading volume of 785,821 shares, compared to its average volume of 535,981. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64. The stock has a market cap of $8.51 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 2.77 and a beta of 0.70. The firm has a 50 day simple moving average of $130.62 and a 200-day simple moving average of $127.04. 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 earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $552.04 million. During the same period last year, the company earned $2.21 EPS. Research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS 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. Stockholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.0%. Cullen/Frost Bankers's dividend payout ratio is currently 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.