Sovran Advisors LLC Has $877,000 Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Sovran Advisors LLC grew its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 66.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 7,007 shares of the bank's stock after buying an additional 2,807 shares during the period. Sovran Advisors LLC's holdings in Cullen/Frost Bankers were worth $877,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CFR. HighTower Advisors LLC raised its holdings in Cullen/Frost Bankers by 8.3% in the 4th quarter. HighTower Advisors LLC now owns 13,083 shares of the bank's stock valued at $1,756,000 after acquiring an additional 1,003 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Cullen/Frost Bankers by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank's stock valued at $942,000 after purchasing an additional 210 shares in the last quarter. UMB Bank n.a. lifted its position in Cullen/Frost Bankers by 59.6% in the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after purchasing an additional 146 shares during the period. Vanguard Group Inc. lifted its position in Cullen/Frost Bankers by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank's stock worth $855,884,000 after purchasing an additional 66,243 shares during the period. Finally, US Bancorp DE boosted its stake in Cullen/Frost Bankers by 15.1% during the fourth quarter. US Bancorp DE now owns 4,339 shares of the bank's stock worth $583,000 after buying an additional 568 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CFR shares. Jefferies Financial Group assumed coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price objective for the company. Evercore ISI upgraded shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target for the company in a research note on Friday, May 2nd. Royal Bank Of Canada decreased their price objective on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Stephens increased their target price on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Barclays raised their target price on Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $132.08.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $128.95 on Monday. The stock has a 50-day simple moving average of $125.01 and a 200 day simple moving average of $128.73. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 4.91 and a beta of 0.68. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12-month low of $96.94 and a 12-month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $560.42 million during the quarter, compared to the consensus estimate of $540.57 million. During the same period in the previous year, the firm posted $2.15 earnings per share. On average, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $1.00 per share. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Friday, May 30th. This represents a $4.00 annualized dividend and a dividend yield of 3.10%. Cullen/Frost Bankers's payout ratio is presently 43.91%.

Insider Activity

In related news, CAO Matthew Bradley Henson purchased 1,870 shares of the stock in a transaction dated Friday, May 2nd. The stock was bought at an average cost of $16.93 per share, with a total value of $31,659.10. Following the purchase, the chief accounting officer now directly owns 5,545 shares in the company, valued at $93,876.85. The trade was a 50.88% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 2.89% of the stock is currently owned by company insiders.

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.

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