Northern Trust Corp Boosts Holdings in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Northern Trust Corp increased its stake in Cullen/Frost Bankers by 8.0%, owning over 1 million shares valued at approximately $131.6 million.
• Multiple institutional investors have also boosted their holdings in Cullen/Frost Bankers, with 86.90% of the stock now owned by hedge funds and other institutions.
• Cullen/Frost Bankers announced a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 3.1%.

Northern Trust Corp grew its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,051,168 shares of the bank's stock after buying an additional 77,592 shares during the period. Northern Trust Corp owned 1.64% of Cullen/Frost Bankers worth $131,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Alpine Bank Wealth Management acquired a new stake in shares of Cullen/Frost Bankers in the first quarter worth $30,000. UMB Bank n.a. grew its stake in Cullen/Frost Bankers by 59.6% in the 1st 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. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Cullen/Frost Bankers during the first quarter worth about $58,000. Parallel Advisors LLC raised its holdings in shares of Cullen/Frost Bankers by 33.8% during the first quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock valued at $65,000 after acquiring an additional 132 shares during the last quarter. Finally, Reyes Financial Architecture Inc. lifted its stake in shares of Cullen/Frost Bankers by 38.5% in the first quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank's stock worth $159,000 after buying an additional 354 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on CFR shares. Stephens boosted their price target on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Royal Bank Of Canada cut their price target on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Barclays decreased their price objective on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Evercore ISI raised 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 note on Friday, May 2nd. Finally, Raymond James Financial reduced their target price on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Cullen/Frost Bankers has a consensus rating of "Reduce" and an average target price of $133.71.

Cullen/Frost Bankers Stock Down 0.8%

Shares of CFR stock traded down $1.04 during trading on Thursday, reaching $130.90. The company's stock had a trading volume of 78,838 shares, compared to its average volume of 441,980. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64. The stock's 50-day moving average price is $130.62 and its 200 day moving average price is $127.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 2.77 and a beta of 0.70.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued 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. The company had revenue of $567.83 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $2.21 earnings per share. On average, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

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