Cullen/Frost Bankers, Inc. $CFR Shares Acquired by M.E. Allison & CO. Inc.

Key Points

• M.E. Allison & CO. Inc. increased its stake in Cullen/Frost Bankers by 35.1%, holding 8,734 shares worth approximately $1.12 million after acquiring an additional 2,270 shares.
• Multiple institutional investors have boosted their positions in Cullen/Frost Bankers, with notable increases, such as GAMMA Investing LLC raising its stake by 877.5%.
• Cullen/Frost Bankers recently reported better-than-expected earnings of $2.39 per share, exceeding the consensus estimate by $0.11, and announced a quarterly dividend of $1.00 per share.

M.E. Allison & CO. Inc. lifted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 35.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,734 shares of the bank's stock after buying an additional 2,270 shares during the quarter. M.E. Allison & CO. Inc.'s holdings in Cullen/Frost Bankers were worth $1,123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CFR. UMB Bank n.a. grew its position in shares of Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after buying an additional 146 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Cullen/Frost Bankers by 29.9% in the first quarter. Park Avenue Securities LLC now owns 2,900 shares of the bank's stock valued at $363,000 after purchasing an additional 667 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Cullen/Frost Bankers by 877.5% in the first quarter. GAMMA Investing LLC now owns 8,035 shares of the bank's stock valued at $1,006,000 after purchasing an additional 7,213 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Cullen/Frost Bankers by 644.1% in the first quarter. SG Americas Securities LLC now owns 9,726 shares of the bank's stock valued at $1,218,000 after purchasing an additional 8,419 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted 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 purchasing an additional 114,910 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CFR. Royal Bank Of Canada upped their price target on Cullen/Frost Bankers from $140.00 to $144.00 and gave the company a "sector perform" rating in a report on Friday. Evercore ISI upped their price target on Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. Morgan Stanley upped their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an "underweight" rating in a report on Monday, September 29th. Barclays decreased their price objective on 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. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Cullen/Frost Bankers in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of "Hold" and an average target price of $137.62.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $122.70 on Monday. The business has a 50 day simple moving average of $127.00 and a 200-day simple moving average of $125.91. The stock has a market capitalization of $7.89 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.11. The firm had revenue of $567.83 million during the quarter, compared to analysts' expectations 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 prior year, the business posted $2.21 earnings per share. Equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $1.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 3.3%. Cullen/Frost Bankers's dividend payout ratio is presently 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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