Bank of New York Mellon Corp Grows Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bank of New York Mellon Corp boosted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 635,899 shares of the bank's stock after buying an additional 24,177 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.99% of Cullen/Frost Bankers worth $79,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC grew its position in shares of Cullen/Frost Bankers by 8.3% in the fourth quarter. HighTower Advisors LLC now owns 13,083 shares of the bank's stock valued at $1,756,000 after purchasing an additional 1,003 shares in the last quarter. State of Alaska Department of Revenue grew its position 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 valued at $942,000 after purchasing an additional 210 shares in the last quarter. UMB Bank n.a. grew its position 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 purchasing an additional 146 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Cullen/Frost Bankers by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank's stock valued at $855,884,000 after purchasing an additional 66,243 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Cullen/Frost Bankers by 42.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,090 shares of the bank's stock valued at $549,000 after purchasing an additional 1,222 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CFR has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on Cullen/Frost Bankers in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price target 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 report on Friday, May 2nd. Raymond James Financial upgraded Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research report on Tuesday, July 8th. Evercore ISI upgraded 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 report on Friday, May 2nd. Finally, Stephens boosted their target price on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of "Hold" and a consensus price target of $134.79.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson bought 1,870 shares of Cullen/Frost Bankers stock in a transaction on Friday, May 2nd. The stock was acquired at an average price of $16.93 per share, with a total value of $31,659.10. Following the acquisition, the chief accounting officer owned 5,545 shares in the company, valued at approximately $93,876.85. This trade represents a 50.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company's stock.

Cullen/Frost Bankers Stock Up 0.8%

CFR stock traded up $1.14 on Monday, reaching $137.54. 247,811 shares of the company traded hands, compared to its average volume of 436,996. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $8.84 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 2.89 and a beta of 0.68. The firm has a fifty day simple moving average of $128.68 and a 200-day simple moving average of $128.72.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, beating analysts' consensus estimates of $2.17 by $0.13. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. The company had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. During the same quarter last year, the company earned $2.15 EPS. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $1.00 dividend. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Friday, May 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 43.91%.

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.