Y Intercept Hong Kong Ltd Makes New Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Key Points

• Y Intercept Hong Kong Ltd acquired a new stake in Cullen/Frost Bankers, purchasing 2,433 shares worth approximately $305,000 in the first quarter.
• Cullen/Frost Bankers reported $2.30 EPS, exceeding analysts' estimates of $2.17, along with a revenue of $560.42 million for the quarter.
• The company announced an increase in its quarterly dividend to $1.00, resulting in a 2.96% yield, up from the previous $0.95.

Y Intercept Hong Kong Ltd purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,433 shares of the bank's stock, valued at approximately $305,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. lifted its position in shares of Cullen/Frost Bankers by 2.5% in the 4th quarter. American Century Companies Inc. now owns 71,366 shares of the bank's stock worth $9,581,000 after purchasing an additional 1,717 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Cullen/Frost Bankers by 1.1% in the 4th quarter. JPMorgan Chase & Co. now owns 834,015 shares of the bank's stock valued at $111,967,000 after acquiring an additional 9,050 shares in the last quarter. Norges Bank bought a new position in Cullen/Frost Bankers during the fourth quarter worth $69,591,000. New Age Alpha Advisors LLC acquired a new stake in Cullen/Frost Bankers in the fourth quarter worth $1,013,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in 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 in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Trading Down 2.7%

Shares of NYSE:CFR traded down $3.42 on Friday, hitting $123.99. The company had a trading volume of 973,939 shares, compared to its average volume of 436,524. The firm's 50-day simple moving average is $130.89 and its two-hundred day simple moving average is $128.90. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 2.84 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 1 year low of $100.31 and a 1 year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share 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 the consensus estimate of $552.04 million. During the same quarter in the prior year, the business earned $2.21 EPS. Equities 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 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 dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.2%. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.91%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CFR shares. Royal Bank Of Canada cut their price target 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. 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. Barclays dropped their price objective on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Friday. Jefferies Financial Group assumed coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price target on the stock. Finally, Stephens increased their price objective on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $134.07.

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.