Curi RMB Capital LLC Makes New Investment in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Curi RMB Capital LLC acquired a new stake in Cullen/Frost Bankers, purchasing 2,598 shares valued at approximately $325,000 during the first quarter.
• Cullen/Frost Bankers reported $2.39 earnings per share (EPS) for the latest quarter, exceeding analysts' expectations of $2.28, driven by revenue of $567.83 million.
• The company will pay a $1.00 quarterly dividend on September 15th, representing an annualized yield of 3.1% and reflecting a dividend payout ratio of 43.06%.

Curi RMB Capital LLC bought a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,598 shares of the bank's stock, valued at approximately $325,000.

Several other institutional investors also recently modified their holdings of CFR. AQR Capital Management LLC increased its stake in shares of Cullen/Frost Bankers by 33.1% in the 1st quarter. AQR Capital Management LLC now owns 201,151 shares of the bank's stock valued at $24,890,000 after acquiring an additional 49,975 shares during the last quarter. Evergreen Capital Management LLC increased its stake in Cullen/Frost Bankers by 6.1% in the first quarter. Evergreen Capital Management LLC now owns 3,269 shares of the bank's stock valued at $409,000 after purchasing an additional 187 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Cullen/Frost Bankers by 8.8% in the first quarter. The Manufacturers Life Insurance Company now owns 647,996 shares of the bank's stock worth $81,129,000 after purchasing an additional 52,313 shares during the period. State of Wyoming bought a new position in shares of Cullen/Frost Bankers during the first quarter worth $176,000. Finally, Beck Bode LLC acquired a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at $1,451,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock traded down $0.46 during midday trading on Friday, reaching $127.55. 311,366 shares of the company's stock were exchanged, compared to its average volume of 434,970. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 2.69 and a beta of 0.74. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $147.64. The stock's 50-day simple moving average is $130.43 and its 200 day simple moving average is $125.96.

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

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 3.1%. Cullen/Frost Bankers's payout ratio is 43.06%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Cullen/Frost Bankers in a research note on Wednesday. They set a "neutral" rating and a $138.00 price objective on the stock. Raymond James Financial dropped their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. 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 objective for the company. Finally, Barclays cut their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $134.00.

Cullen/Frost Bankers Company 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.