Royal Bank of Canada Has $54.54 Million Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Royal Bank of Canada increased its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 406,239 shares of the bank's stock after buying an additional 24,796 shares during the period. Royal Bank of Canada owned 0.63% of Cullen/Frost Bankers worth $54,537,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CFR. Quantinno Capital Management LP boosted its holdings in Cullen/Frost Bankers by 112.3% in the 4th quarter. Quantinno Capital Management LP now owns 11,907 shares of the bank's stock valued at $1,599,000 after purchasing an additional 6,298 shares during the period. Nomura Holdings Inc. bought a new stake in Cullen/Frost Bankers in the 4th quarter valued at $1,142,000. Jefferies Financial Group Inc. bought a new stake in Cullen/Frost Bankers in the 4th quarter valued at $408,000. Focus Partners Wealth bought a new stake in Cullen/Frost Bankers in the 4th quarter valued at $204,000. Finally, Deutsche Bank AG boosted its holdings in Cullen/Frost Bankers by 418.9% in the 4th quarter. Deutsche Bank AG now owns 19,531 shares of the bank's stock valued at $2,622,000 after purchasing an additional 15,767 shares during the period. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson bought 1,870 shares of Cullen/Frost Bankers stock in a transaction dated Friday, May 2nd. The shares were bought at an average price of $16.93 per share, with a total value of $31,659.10. Following the purchase, the chief accounting officer now owns 5,545 shares of the company's stock, valued at $93,876.85. This trade represents a 50.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.89% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CFR shares. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price target for the company. Royal Bank of Canada reduced 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. Morgan Stanley reduced their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, March 13th. Stephens increased 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, Barclays increased their price objective on shares of Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $131.93.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock traded up $2.04 during mid-day trading on Tuesday, reaching $128.44. 53,587 shares of the stock were exchanged, compared to its average volume of 463,875. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 6.46 and a beta of 0.67. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06. The firm has a 50-day simple moving average of $119.72 and a 200 day simple moving average of $130.92. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.13. The firm had revenue of $560.42 million during the quarter, compared to analysts' expectations of $540.57 million. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. During the same quarter last year, the company posted $2.15 EPS. On average, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, May 30th. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 43.91%.

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.