Cullen/Frost Bankers, Inc. (NYSE:CFR) Stock Holdings Increased by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its stake in Cullen/Frost Bankers, acquiring an additional 10,086 shares during the first quarter, raising its total holdings to 19,573 shares worth $2,451,000.
• Analysts have set varying price targets for Cullen/Frost Bankers, with Barclays increasing its target from $135.00 to $155.00, while Royal Bank of Canada lowered its target to $140.00.
• The company declared an increased quarterly dividend of $1.00 per share, up from $0.95, representing an annualized yield of 2.96%.

XTX Topco Ltd lifted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 106.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,573 shares of the bank's stock after acquiring an additional 10,086 shares during the period. XTX Topco Ltd's holdings in Cullen/Frost Bankers were worth $2,451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CFR. Alpine Bank Wealth Management purchased a new position in Cullen/Frost Bankers in the 1st quarter worth about $30,000. UMB Bank n.a. grew its stake in Cullen/Frost Bankers by 59.6% in the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank's stock worth $49,000 after acquiring an additional 146 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Cullen/Frost Bankers by 35.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock valued at $62,000 after purchasing an additional 120 shares during the period. Parallel Advisors LLC increased its holdings in 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 during the period. Finally, Reyes Financial Architecture Inc. raised its position in Cullen/Frost Bankers by 38.5% during the 1st quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank's stock valued at $159,000 after purchasing an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CFR. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective for the company in a research note on Friday, May 2nd. Stephens increased their target price on Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Barclays reduced their price target on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Friday. Royal Bank Of Canada cut their target price on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Finally, Raymond James Financial upgraded 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 report on Tuesday, July 8th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $134.07.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock traded down $3.42 during midday trading on Friday, reaching $123.99. The company's stock had a trading volume of 973,939 shares, compared to its average volume of 436,524. The stock's 50 day simple moving average is $130.89 and its 200 day simple moving average is $128.90. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64. 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 firm has a market capitalization of $7.97 billion, a PE ratio of 13.61, a P/E/G ratio of 2.84 and a beta of 0.68.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.11. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. The firm had revenue of $567.83 million for the quarter, compared to analyst estimates of $552.04 million. During the same period last year, the company earned $2.21 EPS. On average, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. Cullen/Frost Bankers's payout ratio is 43.91%.

About Cullen/Frost Bankers

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.