Bank of New York Mellon Corp Raises Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

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

Other institutional investors 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 $30,000. UMB Bank n.a. boosted its holdings in shares of Cullen/Frost Bankers by 59.6% during the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after purchasing an additional 146 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Cullen/Frost Bankers by 35.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock valued at $62,000 after purchasing an additional 120 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Cullen/Frost Bankers by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock valued at $65,000 after purchasing an additional 132 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at about $204,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CFR. Raymond James Financial raised shares of Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a report on Tuesday, July 8th. Barclays increased their price objective on shares of Cullen/Frost Bankers from $135.00 to $155.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Stephens increased their price objective on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Jefferies Financial Group began coverage on shares of Cullen/Frost Bankers in a report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price objective for the company. Finally, Royal Bank Of Canada dropped their price objective on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Cullen/Frost Bankers presently has an average rating of "Hold" and a consensus target price of $134.79.

Insider Activity at Cullen/Frost Bankers

In related news, CAO Matthew Bradley Henson bought 1,870 shares of Cullen/Frost Bankers stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $16.93 per share, with a total value of $31,659.10. Following the completion of the transaction, the chief accounting officer owned 5,545 shares in the company, valued at $93,876.85. The trade was a 50.88% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.89% of the company's stock.

Cullen/Frost Bankers Trading Down 0.7%

Cullen/Frost Bankers stock traded down $0.99 during midday trading on Friday, reaching $136.55. The stock had a trading volume of 396,111 shares, compared to its average volume of 454,268. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $147.64. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 2.89 and a beta of 0.68. The company has a fifty day moving average of $128.68 and a 200 day moving average of $128.78.

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, topping analysts' consensus estimates of $2.17 by $0.13. The company had revenue of $560.42 million for the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. During the same period in the prior year, the company posted $2.15 EPS. On average, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $1.00 per share. The ex-dividend date was Friday, May 30th. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.93%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 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.