Deutsche Bank AG Purchases Shares of 6,484 Cullen/Frost Bankers, Inc. $CFR

Key Points

• Deutsche Bank initiated a position in Cullen/Frost Bankers, purchasing 6,484 shares valued at approximately $1.0 million. Institutional investors collectively own 86.9% of the bank’s outstanding shares.
• Cullen/Frost reported quarterly EPS of $2.70, exceeding analyst expectations of $2.55, though revenue of $576.01 million fell short of the $589.72 million consensus estimate.
• The bank declared a quarterly dividend of $1.03, equivalent to $4.12 annually and a 2.5% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $161.75.

Deutsche Bank AG acquired a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,484 shares of the bank's stock, valued at approximately $1,002,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Cullen/Frost Bankers during the fourth quarter worth $92,904,000. Bank of New York Mellon Corp purchased a new position in Cullen/Frost Bankers in the second quarter valued at $79,846,000. Alberta Investment Management Corp purchased a new position in Cullen/Frost Bankers in the second quarter valued at $61,808,000. Two Sigma Investments LP raised its position in shares of Cullen/Frost Bankers by 2,024.4% in the third quarter. Two Sigma Investments LP now owns 373,977 shares of the bank's stock worth $47,409,000 after acquiring an additional 356,373 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cullen/Frost Bankers by 16,676.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 353,470 shares of the bank's stock worth $44,760,000 after acquiring an additional 351,363 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Buying and Selling

In related news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the transaction, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.14% of the company's stock.

Cullen/Frost Bankers Stock Performance

CFR opened at $161.90 on Monday. The firm has a market capitalization of $10.06 billion, a PE ratio of 15.30, a PEG ratio of 2.48 and a beta of 0.53. Cullen/Frost Bankers, Inc. has a twelve month low of $119.00 and a twelve month high of $170.80. The firm's 50-day moving average price is $161.35 and its 200 day moving average price is $147.36. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.15. The company had revenue of $576.01 million during the quarter, compared to the consensus estimate of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same quarter in the prior year, the firm earned $2.39 EPS. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 10.9 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 31st. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 38.94%.

Analyst Ratings Changes

A number of research firms recently weighed in on CFR. Citigroup upped their price target on Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a "sell" rating in a report on Tuesday, June 30th. TD Cowen raised their price objective on Cullen/Frost Bankers from $169.00 to $185.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Cantor Fitzgerald boosted their price objective on Cullen/Frost Bankers from $158.00 to $175.00 and gave the company a "neutral" rating in a research report on Wednesday, August 19th. Raymond James Financial reaffirmed a "market perform" rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. Finally, Stephens lifted their price target on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $161.75.

About Cullen/Frost Bankers

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.

Want to see what other hedge funds are holding CFR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report).

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