4,083 Shares in Cullen/Frost Bankers, Inc. $CFR Purchased by Fox Run Management L.L.C.

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. bought a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,083 shares of the bank's stock, valued at approximately $511,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prudential PLC bought a new position in Cullen/Frost Bankers in the 1st quarter valued at approximately $5,819,000. Nuveen LLC bought a new position in shares of Cullen/Frost Bankers during the first quarter valued at $12,885,000. Benjamin Edwards Inc. raised its stake in shares of Cullen/Frost Bankers by 12.3% during the first quarter. Benjamin Edwards Inc. now owns 4,306 shares of the bank's stock valued at $539,000 after acquiring an additional 472 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Cullen/Frost Bankers by 4.3% during the first quarter. Townsquare Capital LLC now owns 6,715 shares of the bank's stock worth $841,000 after purchasing an additional 279 shares during the period. Finally, LaSalle St. Investment Advisors LLC grew its stake in shares of Cullen/Frost Bankers by 4.0% in the first 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 during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Up 3.3%

Shares of CFR traded up $4.1770 during trading hours on Friday, hitting $130.4070. The stock had a trading volume of 267,319 shares, compared to its average volume of 439,935. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64. The firm has a market capitalization of $8.39 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 2.67 and a beta of 0.70. The firm has a 50 day simple moving average of $129.98 and a 200-day simple moving average of $127.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.11. The business 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 period in the previous year, the company earned $2.21 earnings per share. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, August 29th. Cullen/Frost Bankers's payout ratio is presently 43.06%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Jefferies Financial Group began coverage on 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. Raymond James Financial decreased their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. Stephens lifted their price objective on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Evercore ISI upgraded Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price on the stock in a report on Friday, May 2nd. Finally, Barclays decreased 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 given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $133.71.

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.