First National Advisers LLC Grows Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Key Points

• First National Advisers LLC has increased its stake in Cullen/Frost Bankers by 25.8%, now owning 26,428 shares valued at approximately $3.31 million.
• Cullen/Frost Bankers reported a quarterly earnings per share of $2.30, exceeding analysts' estimates and highlighting a strong revenue of $560.42 million during the quarter.
• The company recently declared a quarterly dividend of $1.00 per share, up from $0.95, representing an annualized dividend yield of 2.97%.

First National Advisers LLC boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 25.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,428 shares of the bank's stock after purchasing an additional 5,420 shares during the period. First National Advisers LLC's holdings in Cullen/Frost Bankers were worth $3,309,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. HB Wealth Management LLC boosted its stake in shares of Cullen/Frost Bankers by 5.7% during the 1st quarter. HB Wealth Management LLC now owns 1,897 shares of the bank's stock valued at $238,000 after purchasing an additional 102 shares in the last quarter. Cetera Investment Advisers raised its stake in Cullen/Frost Bankers by 24.4% in the first quarter. Cetera Investment Advisers now owns 8,514 shares of the bank's stock worth $1,066,000 after buying an additional 1,668 shares in the last quarter. Madison Asset Management LLC lifted its holdings in Cullen/Frost Bankers by 9.4% in the first quarter. Madison Asset Management LLC now owns 376,784 shares of the bank's stock worth $47,173,000 after buying an additional 32,477 shares during the period. Venturi Wealth Management LLC boosted its position in Cullen/Frost Bankers by 4.6% during the 1st quarter. Venturi Wealth Management LLC now owns 7,063 shares of the bank's stock valued at $884,000 after acquiring an additional 310 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $12,169,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CFR has been the topic of several recent research reports. Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target on the stock in a research note on Friday, May 2nd. Stephens upped their target price on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Raymond James Financial raised shares of Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 target price on the stock in a research report on Tuesday, July 8th. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 target price on the stock. Finally, Barclays upped their target price on shares of Cullen/Frost Bankers from $135.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers presently has an average rating of "Hold" and an average price target of $134.79.

Cullen/Frost Bankers Stock Down 0.1%

Shares of CFR stock traded down $0.09 during mid-day trading on Tuesday, hitting $135.19. The company's stock had a trading volume of 278,841 shares, compared to its average volume of 331,453. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.87 and a beta of 0.68. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $147.64. The business has a 50-day moving average price of $130.66 and a 200 day moving average price of $128.87.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.13. The business had revenue of $560.42 million for the quarter, compared to analysts' expectations of $540.57 million. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. During the same quarter in the prior year, the business earned $2.15 EPS. Research analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, May 30th. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.96%. Cullen/Frost Bankers's payout ratio is currently 43.91%.

Insiders Place Their Bets

In related news, CAO Matthew Bradley Henson bought 1,870 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the purchase, the chief accounting officer owned 5,545 shares in the company, valued at approximately $93,876.85. This represents a 50.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company's stock.

Cullen/Frost Bankers 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.