Fox Run Management L.L.C. Takes Position in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Fox Run Management L.L.C. has acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR), purchasing 4,083 shares valued at approximately $511,000 in the first quarter.
• The bank recently reported quarterly earnings of $2.39 per share, surpassing the consensus estimate of $2.28, with revenues reaching $567.83 million.
• Cullen/Frost Bankers announced a quarterly dividend of $1.00 per share, reflecting a dividend yield of 3.2% and a payout ratio of 43.06%.

Fox Run Management L.L.C. acquired a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 4,083 shares of the bank's stock, valued at approximately $511,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prudential PLC purchased a new position in shares of Cullen/Frost Bankers during the 1st quarter worth about $5,819,000. Nuveen LLC acquired a new stake in Cullen/Frost Bankers during the 1st quarter worth approximately $12,885,000. Benjamin Edwards Inc. increased its position in Cullen/Frost Bankers by 12.3% during the 1st quarter. Benjamin Edwards Inc. now owns 4,306 shares of the bank's stock worth $539,000 after purchasing an additional 472 shares in the last quarter. Townsquare Capital LLC increased its position in Cullen/Frost Bankers by 4.3% during the 1st quarter. Townsquare Capital LLC now owns 6,715 shares of the bank's stock worth $841,000 after purchasing an additional 279 shares in the last quarter. Finally, LaSalle St. Investment Advisors LLC increased its position in Cullen/Frost Bankers by 4.0% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,165 shares of the bank's stock worth $271,000 after purchasing an additional 84 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CFR shares. Raymond James Financial dropped their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 target price for the company. Royal Bank Of Canada dropped 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. Evercore ISI raised 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. Finally, Barclays dropped their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of "Reduce" and a consensus target price of $133.71.

Cullen/Frost Bankers Stock Up 3.7%

NYSE:CFR traded up $4.6120 during trading hours on Friday, hitting $130.8420. The stock had a trading volume of 544,589 shares, compared to its average volume of 503,451. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64. The business has a 50 day simple moving average of $130.13 and a two-hundred day simple moving average of $127.14. The company has a market cap of $8.42 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.76 and a beta of 0.70.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The company had revenue of $567.83 million during the quarter, compared to the consensus estimate of $552.04 million. During the same quarter last year, the company earned $2.21 earnings per share. Analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 3.1%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 43.06%.

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.