DB&C Advisors LLC Purchases New Shares in Cullen/Frost Bankers, Inc. $CFR

Key Points

• DB&C Advisors LLC opened a new position in Cullen/Frost Bankers, buying 13,250 shares valued at about $1.68 million. The stake makes CFR about 2.1% of the firm’s holdings.
• Institutional ownership remains high, with hedge funds and other investors holding about 86.9% of the company. Several large managers, including Geode Capital, Dimensional Fund Advisors, and Bank of America, also increased their positions.
• Cullen/Frost Bankers beat earnings estimates in its latest quarter, reporting $2.65 EPS versus $2.49 expected, and it also raised its quarterly dividend to $1.03 per share from $1.00.

DB&C Advisors LLC purchased a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,250 shares of the bank's stock, valued at approximately $1,678,000. Cullen/Frost Bankers accounts for about 2.1% of DB&C Advisors LLC's holdings, making the stock its 14th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Cullen/Frost Bankers by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank's stock valued at $155,059,000 after acquiring an additional 10,246 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Cullen/Frost Bankers by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,187,406 shares of the bank's stock valued at $150,529,000 after acquiring an additional 77,028 shares during the last quarter. Bank of America Corp DE grew its position in Cullen/Frost Bankers by 8.5% in the 3rd quarter. Bank of America Corp DE now owns 1,129,673 shares of the bank's stock valued at $143,209,000 after acquiring an additional 88,080 shares during the last quarter. Northern Trust Corp grew its position in Cullen/Frost Bankers by 2.3% in the 3rd quarter. Northern Trust Corp now owns 965,821 shares of the bank's stock valued at $122,437,000 after acquiring an additional 21,793 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in Cullen/Frost Bankers by 11.9% in the 3rd quarter. Impax Asset Management Group plc now owns 920,833 shares of the bank's stock valued at $116,734,000 after acquiring an additional 97,955 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CFR shares. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Cullen/Frost Bankers in a research report on Monday, June 1st. TD Cowen raised Cullen/Frost Bankers to a "strong-buy" rating in a research report on Monday, April 13th. Stephens raised Cullen/Frost Bankers from an "equal weight" rating to an "overweight" rating and set a $164.00 price target on the stock in a research report on Tuesday, May 5th. Citigroup increased their price target on Cullen/Frost Bankers from $125.00 to $131.00 and gave the stock a "sell" rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada increased their price target on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers has an average rating of "Hold" and a consensus target price of $148.73.

Cullen/Frost Bankers Price Performance

Shares of CFR stock opened at $140.46 on Friday. Cullen/Frost Bankers, Inc. has a 1-year low of $119.00 and a 1-year high of $148.97. The stock's 50-day moving average is $139.44 and its 200 day moving average is $135.89. The company has a market cap of $8.82 billion, a P/E ratio of 13.68, a PEG ratio of 3.55 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The company had revenue of $574.84 million for the quarter, compared to the consensus estimate of $587.29 million. During the same quarter last year, the company earned $2.30 earnings per share. Research analysts predict that Cullen/Frost Bankers, Inc. will post 10.46 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, May 29th. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. Cullen/Frost Bankers's dividend payout ratio is 40.12%.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.

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