Vest Financial LLC Buys 6,084 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Vest Financial LLC increased its stake in Cullen/Frost Bankers, Inc. by 22.5% during Q2, acquiring an additional 6,084 shares, which brings their total ownership to 33,177 shares valued at approximately $4.27 million.
• Shares of Cullen/Frost Bankers, Inc. saw a 2.1% increase and currently trade at $125.36, with a 52-week low of $100.31 and a high of $147.64.
• In its latest earnings report, Cullen/Frost Bankers beat expectations with earnings of $2.39 per share, exceeding the consensus estimate of $2.28.

Vest Financial LLC raised its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 22.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,177 shares of the bank's stock after acquiring an additional 6,084 shares during the period. Vest Financial LLC owned about 0.05% of Cullen/Frost Bankers worth $4,265,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CFR. Park Avenue Securities LLC lifted its stake in Cullen/Frost Bankers by 29.9% during the 1st quarter. Park Avenue Securities LLC now owns 2,900 shares of the bank's stock valued at $363,000 after acquiring an additional 667 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Cullen/Frost Bankers by 877.5% during the 1st quarter. GAMMA Investing LLC now owns 8,035 shares of the bank's stock worth $1,006,000 after purchasing an additional 7,213 shares during the period. SG Americas Securities LLC raised its stake in shares of Cullen/Frost Bankers by 644.1% during the 1st quarter. SG Americas Securities LLC now owns 9,726 shares of the bank's stock worth $1,218,000 after purchasing an additional 8,419 shares during the period. M.E. Allison & CO. Inc. raised its stake in shares of Cullen/Frost Bankers by 2.3% during the 1st quarter. M.E. Allison & CO. Inc. now owns 6,464 shares of the bank's stock worth $809,000 after purchasing an additional 145 shares during the period. Finally, Cardinal Capital Management raised its stake in shares of Cullen/Frost Bankers by 5.0% during the 1st quarter. Cardinal Capital Management now owns 17,743 shares of the bank's stock worth $2,221,000 after purchasing an additional 851 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Up 2.1%

Shares of NYSE CFR opened at $125.36 on Tuesday. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $147.64. The business has a 50-day simple moving average of $127.00 and a two-hundred day simple moving average of $125.92. 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 company has a market cap of $8.06 billion, a P/E ratio of 13.49, a P/E/G ratio of 2.98 and a beta of 0.71.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly 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. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.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 prior year, the business posted $2.21 earnings per share. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $1.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 3.2%. Cullen/Frost Bankers's dividend payout ratio is currently 43.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CFR shares. Evercore ISI lifted their target price on Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. Barclays lowered their target price on 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. TD Cowen upgraded Cullen/Frost Bankers to a "strong-buy" rating in a research note on Thursday, September 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cullen/Frost Bankers in a research note on Wednesday, October 8th. Finally, Raymond James Financial lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $137.62.

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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