Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 97,199 shares of the bank's stock, valued at approximately $12,169,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.15% of Cullen/Frost Bankers as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in Cullen/Frost Bankers in the 1st quarter worth approximately $30,000. UMB Bank n.a. grew its holdings 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 valued at $49,000 after acquiring an additional 146 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings 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 valued at $62,000 after acquiring an additional 120 shares in the last quarter. Parallel Advisors LLC raised 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 purchasing an additional 132 shares in the last quarter. Finally, Reyes Financial Architecture Inc. raised its stake in shares of Cullen/Frost Bankers by 38.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank's stock worth $159,000 after purchasing an additional 354 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.
Insider Activity at Cullen/Frost Bankers
In related news, CAO Matthew Bradley Henson purchased 1,870 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $16.93 per share, with a total value of $31,659.10. Following the completion of the purchase, the chief accounting officer directly owned 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.
Cullen/Frost Bankers Price Performance
Cullen/Frost Bankers stock traded down $0.48 during trading hours on Tuesday, hitting $134.81. 58,279 shares of the stock were exchanged, compared to its average volume of 427,326. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $8.67 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.86 and a beta of 0.68. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $147.64. The business's 50-day moving average is $130.66 and its two-hundred day moving average is $128.87.
Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.13. The firm had revenue of $560.42 million for the quarter, compared to analysts' expectations of $540.57 million. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. During the same period in the prior year, the firm earned $2.15 earnings per share. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS 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. Shareholders of record on Friday, May 30th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.97%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date was Friday, May 30th. Cullen/Frost Bankers's dividend payout ratio is currently 43.91%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. 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 raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price for the company in a research report on Friday, May 2nd. Raymond James Financial raised shares of Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research report on Tuesday, July 8th. Stephens boosted their target price on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Barclays boosted their price objective on shares of Cullen/Frost Bankers from $135.00 to $155.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $134.79.
Read Our Latest Analysis on Cullen/Frost Bankers
Cullen/Frost Bankers Company Profile
(
Free Report)
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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