Madison Asset Management LLC Grows Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Madison Asset Management LLC boosted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 9.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,784 shares of the bank's stock after acquiring an additional 32,477 shares during the quarter. Madison Asset Management LLC owned 0.59% of Cullen/Frost Bankers worth $47,173,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its holdings in Cullen/Frost Bankers by 4.6% in the first quarter. Venturi Wealth Management LLC now owns 7,063 shares of the bank's stock valued at $884,000 after acquiring an additional 310 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Cullen/Frost Bankers during the 1st quarter valued at about $12,169,000. Y Intercept Hong Kong Ltd bought a new position in shares of Cullen/Frost Bankers during the 1st quarter valued at about $305,000. GW&K Investment Management LLC lifted its holdings in shares of Cullen/Frost Bankers by 0.7% during the 1st quarter. GW&K Investment Management LLC now owns 350,437 shares of the bank's stock valued at $43,874,000 after purchasing an additional 2,599 shares in the last quarter. Finally, Tributary Capital Management LLC lifted its holdings in shares of Cullen/Frost Bankers by 4.0% during the 1st quarter. Tributary Capital Management LLC now owns 8,854 shares of the bank's stock valued at $1,109,000 after purchasing an additional 339 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CFR. Royal Bank Of Canada dropped their target price on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Stephens lifted their target price on Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Raymond James Financial raised Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 target price on the stock in a research report on Tuesday, July 8th. Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price on the stock in a research report on Friday, May 2nd. Finally, Barclays lifted their target price on Cullen/Frost Bankers from $135.00 to $155.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $134.79.

Insider Buying and Selling

In other news, CAO Matthew Bradley Henson acquired 1,870 shares of Cullen/Frost Bankers stock in a transaction on Friday, May 2nd. The stock was purchased at an average price of $16.93 per share, with a total value of $31,659.10. Following the completion of the purchase, the chief accounting officer owned 5,545 shares of the company's stock, valued at approximately $93,876.85. The trade was a 50.88% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.89% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Trading Down 0.3%

Cullen/Frost Bankers stock traded down $0.45 during trading hours on Friday, hitting $134.91. The stock had a trading volume of 239,793 shares, compared to its average volume of 338,175. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 2.87 and a beta of 0.68. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The business's 50 day simple moving average is $130.59 and its 200-day simple moving average is $128.95.

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

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, May 30th. This represents a $4.00 annualized dividend and a yield of 2.97%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.91%.

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.