Principal Financial Group Inc. Has $101.62 Million Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Principal Financial Group Inc. trimmed its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 811,635 shares of the bank's stock after selling 10,797 shares during the quarter. Principal Financial Group Inc. owned approximately 1.26% of Cullen/Frost Bankers worth $101,617,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CFR. Vanguard Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank's stock worth $855,884,000 after acquiring an additional 66,243 shares during the period. Boston Trust Walden Corp grew its stake in shares of Cullen/Frost Bankers by 5.7% in the 1st quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank's stock worth $139,282,000 after purchasing an additional 60,187 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cullen/Frost Bankers by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,026,585 shares of the bank's stock worth $137,823,000 after purchasing an additional 6,159 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Cullen/Frost Bankers by 122,282.2% in the first quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock worth $125,949,000 after acquiring an additional 1,005,160 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Cullen/Frost Bankers by 33.7% in the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock worth $130,703,000 after acquiring an additional 245,458 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CFR shares. Royal Bank Of Canada lowered their price objective on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Barclays boosted their price objective on shares of Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Stephens boosted their price objective on shares of 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. Morgan Stanley reduced their price objective on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a research note on Thursday, March 13th. Finally, Evercore ISI upgraded shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective for the company in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $132.08.

Insiders Place Their Bets

In related news, CAO Matthew Bradley Henson purchased 1,870 shares of the business's stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $16.93 per share, with a total value of $31,659.10. Following the completion of the purchase, the chief accounting officer owned 5,545 shares in the company, valued at $93,876.85. This represents a 50.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.89% of the company's stock.

Cullen/Frost Bankers Price Performance

Shares of CFR traded up $1.72 during trading hours on Friday, hitting $136.19. The stock had a trading volume of 394,298 shares, compared to its average volume of 457,150. The company's fifty day moving average is $126.95 and its two-hundred day moving average is $128.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a 52 week low of $96.94 and a 52 week high of $147.64. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 5.19 and a beta of 0.68.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.13. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. The business had revenue of $560.42 million for the quarter, compared to analyst estimates of $540.57 million. During the same quarter in the prior year, the firm earned $2.15 EPS. On average, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $1.00 dividend. The ex-dividend date was Friday, May 30th. This represents a $4.00 dividend on an annualized basis and a yield of 2.94%. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. Cullen/Frost Bankers's payout ratio is presently 43.91%.

Cullen/Frost Bankers 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.