12,237 Shares in Cullen/Frost Bankers, Inc. $CFR Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has made a new investment in Cullen/Frost Bankers, acquiring 12,237 shares worth about $1.53 million in the first quarter of the year.
• Cullen/Frost Bankers reported $2.39 earnings per share for the last quarter, which exceeded the consensus estimate of $2.28, alongside revenues of $567.83 million.
• The bank declared a quarterly dividend of $1.00 per share, with a yield of 3.1%, set to be paid on September 15th to shareholders of record on August 29th.

Quantbot Technologies LP purchased a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,237 shares of the bank's stock, valued at approximately $1,532,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bayforest Capital Ltd acquired a new position in shares of Cullen/Frost Bankers during the first quarter valued at $241,000. State of Alaska Department of Revenue boosted its holdings in shares of Cullen/Frost Bankers by 2.9% during 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% during the first quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank's stock valued at $2,264,000 after purchasing an additional 6,484 shares in the last quarter. Norden Group LLC bought a new stake in shares of Cullen/Frost Bankers during the first quarter valued at about $214,000. Finally, UMB Bank n.a. raised its stake in shares of Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price objective on the stock. Barclays cut their price objective 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. Evercore ISI upgraded shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective on the stock in a research note on Friday, May 2nd. Stephens lifted their price objective on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada cut 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 note on Friday, May 2nd. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Reduce" and an average target price of $133.71.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock traded down $0.82 during midday trading on Thursday, hitting $131.12. The company's stock had a trading volume of 95,851 shares, compared to its average volume of 442,160. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The stock's 50-day moving average price is $130.62 and its 200-day moving average price is $127.04. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $147.64. The company has a market capitalization of $8.43 billion, a PE ratio of 14.10, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $567.83 million for the quarter, compared to analysts' expectations of $552.04 million. During the same period in the previous year, the business earned $2.21 earnings per share. Analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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