10,800 Shares in Cullen/Frost Bankers, Inc. $CFR Acquired by Zurich Insurance Group Ltd FI

Key Points

• Zurich Insurance Group Ltd FI acquired a new position in Cullen/Frost Bankers, Inc., purchasing 10,800 shares valued at approximately $1.35 million in the first quarter.
• Cullen/Frost Bankers reported earnings of $2.39 per share for the quarter, exceeding analysts' estimates of $2.28, with a net margin of 21.20% and revenue of $567.83 million.
• The bank declared a quarterly dividend of $1.00 per share, representing a yield of 3.1%, with the ex-dividend date set for August 29th.

Zurich Insurance Group Ltd FI purchased a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,800 shares of the bank's stock, valued at approximately $1,352,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Cullen/Frost Bankers in the first quarter worth $30,000. UMB Bank n.a. lifted its holdings in shares of Cullen/Frost Bankers by 59.6% in the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after buying an additional 146 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Cullen/Frost Bankers in the first quarter valued at $57,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Cullen/Frost Bankers during the first quarter valued at $58,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Cullen/Frost Bankers by 33.8% during the first quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock valued at $65,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CFR. Barclays reduced their price objective on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Raymond James Financial cut their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. Cantor Fitzgerald assumed coverage on Cullen/Frost Bankers in a research note on Wednesday, September 10th. They set a "neutral" rating and a $138.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $134.00.

Cullen/Frost Bankers Stock Performance

CFR traded down $0.60 during midday trading on Monday, reaching $126.89. The company's stock had a trading volume of 99,129 shares, compared to its average volume of 438,871. The stock has a market cap of $8.16 billion, a P/E ratio of 13.67, a PEG ratio of 2.68 and a beta of 0.74. The company has a fifty day simple moving average of $130.43 and a 200 day simple moving average of $125.82. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.11. The firm had revenue of $567.83 million for the quarter, compared to analyst estimates 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 last year, the firm posted $2.21 EPS. Research analysts expect 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.2%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 43.06%.

Cullen/Frost Bankers 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.