Franklin Resources Inc. Boosts Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Franklin Resources Inc. increased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 33.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,020 shares of the bank's stock after buying an additional 2,513 shares during the period. Franklin Resources Inc.'s holdings in Cullen/Frost Bankers were worth $1,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cullen/Frost Bankers in the third quarter worth $29,000. UMB Bank n.a. boosted its stake in Cullen/Frost Bankers by 45.8% in the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank's stock worth $33,000 after purchasing an additional 77 shares in the last quarter. Blue Trust Inc. grew its position in Cullen/Frost Bankers by 239.0% during the 4th quarter. Blue Trust Inc. now owns 339 shares of the bank's stock valued at $46,000 after purchasing an additional 239 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in 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 purchasing an additional 120 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Cullen/Frost Bankers in the fourth quarter worth about $106,000. Institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR traded up $0.35 on Friday, reaching $111.54. The company's stock had a trading volume of 426,124 shares, compared to its average volume of 469,036. The stock's 50 day simple moving average is $124.91 and its two-hundred day simple moving average is $131.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $7.17 billion, a P/E ratio of 12.57, a PEG ratio of 6.46 and a beta of 0.82. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, topping analysts' consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. Research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $3.80 annualized dividend and a dividend yield of 3.41%. Cullen/Frost Bankers's payout ratio is 42.84%.

Insider Buying and Selling

In related news, insider Paul Bracher sold 11,500 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the sale, the insider now owns 102,946 shares of the company's stock, valued at approximately $14,355,819.70. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CFR. Morgan Stanley cut their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, March 13th. Barclays began coverage on Cullen/Frost Bankers in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $130.00 target price on the stock. Evercore ISI boosted their price target on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an "underperform" rating in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $144.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Finally, DA Davidson lowered Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $138.00 to $143.00 in a research report on Monday, February 3rd. Four equities 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. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $132.57.

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.