Financial Gravity Asset Management Inc. Takes $378,000 Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Financial Gravity Asset Management Inc. acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,023 shares of the bank's stock, valued at approximately $378,000.

A number of other large investors also recently added to or reduced their stakes in CFR. Alpine Bank Wealth Management acquired a new position in Cullen/Frost Bankers during the first quarter worth $30,000. UMB Bank n.a. raised its position in Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after acquiring an additional 146 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Cullen/Frost Bankers by 35.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock worth $62,000 after acquiring an additional 120 shares during the period. Parallel Advisors LLC raised its position in Cullen/Frost Bankers by 33.8% during the first quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock worth $65,000 after acquiring an additional 132 shares during the period. Finally, Focus Partners Wealth acquired a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at about $204,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Trading Down 0.7%

Shares of CFR traded down $0.99 during trading on Friday, reaching $136.55. 396,111 shares of the company traded hands, compared to its average volume of 454,655. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $147.64. The stock has a market cap of $8.78 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 2.91 and a beta of 0.68. The stock has a 50-day simple moving average of $128.68 and a 200-day simple moving average of $128.83. 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 (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. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. The business had revenue of $560.42 million during the quarter, compared to analysts' expectations of $540.57 million. During the same period last year, the business earned $2.15 earnings per share. On average, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The business 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. The ex-dividend date was Friday, May 30th. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.93%. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.91%.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson acquired 1,870 shares of the stock in a transaction dated Friday, May 2nd. The stock was acquired 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 in the company, valued at $93,876.85. This trade represents 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CFR shares. Barclays increased their target price on shares of Cullen/Frost Bankers from $135.00 to $155.00 and gave the company an "equal weight" rating in a research report on Tuesday. Royal Bank Of Canada reduced their target price on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Stephens increased their target price on shares of 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 upgraded shares of Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research report on Tuesday. Finally, Evercore ISI upgraded shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price for the company in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $134.79.

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.