The Manufacturers Life Insurance Company Has $81.13 Million Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Key Points

• The Manufacturers Life Insurance Company increased its stake in Cullen/Frost Bankers by 8.8%, owning 647,996 shares worth approximately $81.13 million.
• Multiple hedge funds have recently made adjustments to their positions in Cullen/Frost Bankers, with a total of 86.90% of the company's stock now held by institutional investors.
• Cullen/Frost Bankers declared a quarterly dividend of $1.00, representing a 3.1% dividend yield based on an annualized payout of $4.00.

The Manufacturers Life Insurance Company raised its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 647,996 shares of the bank's stock after purchasing an additional 52,313 shares during the period. The Manufacturers Life Insurance Company owned about 1.01% of Cullen/Frost Bankers worth $81,129,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in 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 valued at $125,949,000 after purchasing an additional 1,005,160 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of Cullen/Frost Bankers by 350.8% in the 1st quarter. Impax Asset Management Group plc now owns 518,387 shares of the bank's stock valued at $64,359,000 after buying an additional 403,387 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Cullen/Frost Bankers by 33.7% in the 4th quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock valued at $130,703,000 after buying an additional 245,458 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Cullen/Frost Bankers by 19.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 711,527 shares of the bank's stock valued at $89,083,000 after buying an additional 114,910 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Cullen/Frost Bankers during the first quarter worth approximately $12,885,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Up 0.8%

Shares of NYSE:CFR traded up $1.00 during midday trading on Thursday, reaching $129.78. The company had a trading volume of 148,124 shares, compared to its average volume of 441,039. The stock's fifty day moving average price is $130.99 and its 200-day moving average price is $126.61. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The stock has a market capitalization of $8.35 billion, a P/E ratio of 13.96, a PEG ratio of 2.71 and a beta of 0.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.11. The firm had revenue of $567.83 million for the quarter, compared to the consensus estimate of $552.04 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.During the same quarter in the previous year, the business earned $2.21 EPS. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 3.1%. Cullen/Frost Bankers's payout ratio is 43.06%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CFR shares. Barclays lowered their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Jefferies Financial Group started coverage on Cullen/Frost Bankers in a research note on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price target on the stock. Finally, Raymond James Financial decreased their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $133.71.

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.