Principal Financial Group Inc. Sells 10,797 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Principal Financial Group Inc. reduced its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 811,635 shares of the bank's stock after selling 10,797 shares during the quarter. Principal Financial Group Inc. owned about 1.26% of Cullen/Frost Bankers worth $101,617,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth $30,000. UMB Bank n.a. boosted its stake in shares of Cullen/Frost Bankers by 59.6% during the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after acquiring an additional 146 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Cullen/Frost Bankers by 35.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock worth $62,000 after acquiring an additional 120 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Cullen/Frost Bankers by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock worth $65,000 after acquiring an additional 132 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth $106,000. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Stock Up 1.0%

Shares of NYSE:CFR traded up $1.30 during midday trading on Tuesday, hitting $136.50. 462,556 shares of the stock were exchanged, compared to its average volume of 456,438. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a 52-week low of $97.01 and a 52-week high of $147.64. The business's fifty day simple moving average is $127.70 and its two-hundred day simple moving average is $128.74. The company has a market capitalization of $8.78 billion, a PE ratio of 14.98, a P/E/G ratio of 5.13 and a beta of 0.68.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.13. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. The business had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. During the same period last year, the company earned $2.15 earnings per share. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.93%. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Friday, May 30th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.91%.

Insider Activity

In other news, CAO Matthew Bradley Henson acquired 1,870 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was acquired at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the acquisition, the chief accounting officer owned 5,545 shares in the company, valued at approximately $93,876.85. The trade was a 50.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CFR. Stephens raised 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. Royal Bank Of Canada reduced their price objective on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Morgan Stanley reduced their target price on Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, March 13th. Barclays increased their target price on Cullen/Frost Bankers from $135.00 to $155.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, Raymond James Financial upgraded Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 target price for the company in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $134.79.

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.