Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Purchased by Impax Asset Management Group plc

Impax Asset Management Group plc increased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 350.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 518,387 shares of the bank's stock after purchasing an additional 403,387 shares during the quarter. Impax Asset Management Group plc owned approximately 0.81% of Cullen/Frost Bankers worth $64,359,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. HighTower Advisors LLC raised its holdings in Cullen/Frost Bankers by 8.3% during the fourth quarter. HighTower Advisors LLC now owns 13,083 shares of the bank's stock valued at $1,756,000 after acquiring an additional 1,003 shares during the period. State of Alaska Department of Revenue lifted its stake in 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 during the last quarter. UMB Bank n.a. lifted its stake in Cullen/Frost Bankers by 59.6% in the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after purchasing an additional 146 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cullen/Frost Bankers by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank's stock worth $855,884,000 after purchasing an additional 66,243 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Cullen/Frost Bankers by 15.1% in the fourth quarter. US Bancorp DE now owns 4,339 shares of the bank's stock worth $583,000 after purchasing an additional 568 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Stock Performance

NYSE:CFR traded up $1.30 during trading hours on Tuesday, reaching $136.50. 462,556 shares of the company's stock were exchanged, compared to its average volume of 456,438. The company has a 50-day moving average of $127.70 and a 200 day moving average of $128.74. 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 1-year low of $97.01 and a 1-year high of $147.64. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 5.13 and a beta of 0.68.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $560.42 million for the quarter, compared to analysts' expectations 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 previous year, the company posted $2.15 earnings per share. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.93%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date was Friday, May 30th. Cullen/Frost Bankers's payout ratio is 43.91%.

Analyst Ratings Changes

CFR has been the subject of several research analyst reports. Barclays lifted their price target on shares of Cullen/Frost Bankers from $135.00 to $155.00 and gave the company an "equal weight" rating in a research note on Tuesday. Royal Bank Of Canada reduced 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 research note on Friday, May 2nd. Evercore ISI upgraded Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective for the company in a report on Friday, May 2nd. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 target price for the company. Finally, Raymond James Financial upgraded shares of Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 price target on the stock in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $134.79.

Insiders Place Their Bets

In other news, CAO Matthew Bradley Henson acquired 1,870 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were bought at an average price of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the purchase, the chief accounting officer directly owned 5,545 shares of the company's stock, valued at approximately $93,876.85. This trade represents a 50.88% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

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.