Cullen/Frost Bankers, Inc. $CFR is Martin Capital Partners LLC's 3rd Largest Position

Key Points

• Martin Capital Partners LLC increased its stake in Cullen/Frost Bankers, Inc. by 221.2%, owning 67,030 shares worth approximately $8.62 million, making it the company's third largest holding.
• Several large investors have also raised their positions in Cullen/Frost Bankers, with 86.90% of the stock owned by hedge funds and institutional investors.
• Cullen/Frost Bankers recently reported quarterly earnings, surpassing estimates with an EPS of $2.39 and declaring a quarterly dividend of $1.00, representing an annual yield of 3.1%.

Martin Capital Partners LLC boosted its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 221.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,030 shares of the bank's stock after purchasing an additional 46,163 shares during the quarter. Cullen/Frost Bankers comprises about 3.4% of Martin Capital Partners LLC's investment portfolio, making the stock its 3rd largest position. Martin Capital Partners LLC owned about 0.10% of Cullen/Frost Bankers worth $8,616,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bayforest Capital Ltd purchased a new stake in shares of Cullen/Frost Bankers in the first quarter valued at $241,000. State of Alaska Department of Revenue raised its stake in shares of Cullen/Frost Bankers by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank's stock valued at $942,000 after acquiring an additional 210 shares during the period. Victory Capital Management Inc. raised its stake in shares of Cullen/Frost Bankers by 55.9% in the first quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank's stock valued at $2,264,000 after acquiring an additional 6,484 shares during the period. Norden Group LLC purchased a new stake in shares of Cullen/Frost Bankers in the first quarter valued at $214,000. Finally, UMB Bank n.a. raised its stake in shares of Cullen/Frost Bankers by 59.6% in the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after acquiring an additional 146 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Down 1.0%

Shares of NYSE:CFR traded down $1.32 during trading on Friday, reaching $127.43. The stock had a trading volume of 160,000 shares, compared to its average volume of 437,895. The company has a market capitalization of $8.20 billion, a P/E ratio of 13.72, a PEG ratio of 2.65 and a beta of 0.74. 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 firm's 50-day simple moving average is $129.66 and its 200 day simple moving average is $125.72. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results 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. 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 analyst estimates of $552.04 million. During the same period last year, the firm posted $2.21 EPS. As a group, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $1.00 per share. 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 payout ratio is 43.06%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CFR shares. Barclays reduced their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Raymond James Financial reduced their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Monday, August 4th. Finally, Cantor Fitzgerald began coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, September 10th. They issued a "neutral" rating and a $138.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $134.00.

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.