First Citizens Bank & Trust Co. Takes $604,000 Position in Cullen/Frost Bankers, Inc. $CFR

First Citizens Bank & Trust Co. acquired a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,698 shares of the bank's stock, valued at approximately $604,000.

Several other institutional investors have also added to or reduced their stakes in CFR. Impax Asset Management Group plc raised its position in Cullen/Frost Bankers by 350.8% during the first quarter. Impax Asset Management Group plc now owns 518,387 shares of the bank's stock valued at $64,359,000 after purchasing an additional 403,387 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 61.6% during the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank's stock worth $75,833,000 after buying an additional 230,993 shares in the last quarter. Nuveen LLC acquired a new position in shares of Cullen/Frost Bankers during the first quarter worth $12,885,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Cullen/Frost Bankers during the first quarter worth $12,169,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Cullen/Frost Bankers by 13.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 806,752 shares of the bank's stock worth $103,700,000 after buying an additional 95,225 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CFR has been the subject of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They set a "neutral" rating and a $138.00 price target for the company. TD Cowen upgraded Cullen/Frost Bankers to a "strong-buy" rating in a report on Thursday, September 25th. Evercore ISI increased their price objective on Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. Weiss Ratings restated a "hold (c+)" rating on shares of Cullen/Frost Bankers in a report on Wednesday, October 8th. Finally, Raymond James Financial decreased their price objective on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $137.62.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $124.97 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $127.06 and a two-hundred day moving average price of $126.52. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64. The company has a market cap of $8.04 billion, a P/E ratio of 13.45, a PEG ratio of 3.03 and a beta of 0.71.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.11. The company had revenue of $567.83 million for the quarter, compared to analysts' expectations of $552.04 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same quarter in the prior year, the firm earned $2.21 EPS. As a group, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio is 43.06%.

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.

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