Janney Montgomery Scott LLC Acquires 7,761 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Janney Montgomery Scott LLC acquired an additional 7,761 shares of Cullen/Frost Bankers, increasing its holding by 46.8% to a total of 24,347 shares, valued at $3.13 million.
• Cullen/Frost Bankers reported an EPS of $2.39 for the last quarter, surpassing the expected $2.28, and achieved a net margin of 21.20%.
• The bank's recently declared quarterly dividend was $1.00 per share, contributing to an annualized dividend yield of 3.1%.

Janney Montgomery Scott LLC increased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 46.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,347 shares of the bank's stock after acquiring an additional 7,761 shares during the quarter. Janney Montgomery Scott LLC's holdings in Cullen/Frost Bankers were worth $3,130,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in Cullen/Frost Bankers by 13.2% in the second quarter. Public Employees Retirement System of Ohio now owns 21,241 shares of the bank's stock valued at $2,730,000 after purchasing an additional 2,473 shares in the last quarter. Cardinal Capital Management raised its stake in Cullen/Frost Bankers by 0.5% in the second quarter. Cardinal Capital Management now owns 17,824 shares of the bank's stock valued at $2,291,000 after purchasing an additional 81 shares in the last quarter. UMB Bank n.a. raised its stake in Cullen/Frost Bankers by 94.6% in the second quarter. UMB Bank n.a. now owns 761 shares of the bank's stock valued at $98,000 after purchasing an additional 370 shares in the last quarter. Phillips Wealth Planners LLC purchased a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $225,000. Finally, Diversified Trust Co raised its stake in Cullen/Frost Bankers by 8.1% in the second quarter. Diversified Trust Co now owns 13,549 shares of the bank's stock valued at $1,742,000 after purchasing an additional 1,012 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Down 0.0%

Shares of CFR opened at $127.37 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.66 and a beta of 0.71. The stock has a 50 day moving average price of $127.02 and a 200 day moving average price of $125.90.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, beating the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.The business had revenue of $567.83 million for the quarter, compared to analyst estimates of $552.04 million. During the same quarter in the prior year, the company posted $2.21 EPS. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.06%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CFR. Morgan Stanley boosted their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "underweight" rating in a report on Monday, September 29th. Raymond James Financial lowered their price objective on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Barclays lowered their price objective on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Weiss Ratings restated a "hold (c+)" rating on shares of Cullen/Frost Bankers in a report on Wednesday. Finally, Evercore ISI boosted their price objective on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an "in-line" rating in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $137.31.

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.

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