NewEdge Advisors LLC Increases Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

NewEdge Advisors LLC grew its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 690.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,797 shares of the bank's stock after buying an additional 2,443 shares during the period. NewEdge Advisors LLC's holdings in Cullen/Frost Bankers were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CFR. Tidal Investments LLC lifted its stake in shares of Cullen/Frost Bankers by 30.3% in the third quarter. Tidal Investments LLC now owns 18,689 shares of the bank's stock valued at $2,091,000 after buying an additional 4,348 shares in the last quarter. HighTower Advisors LLC increased its holdings in Cullen/Frost Bankers by 8.3% during the 4th quarter. HighTower Advisors LLC now owns 13,083 shares of the bank's stock worth $1,756,000 after purchasing an additional 1,003 shares in the last quarter. Barclays PLC raised its stake in shares of Cullen/Frost Bankers by 234.5% in the third quarter. Barclays PLC now owns 436,393 shares of the bank's stock worth $48,814,000 after purchasing an additional 305,921 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $389,000. Finally, Oddo BHF Asset Management Sas bought a new stake in Cullen/Frost Bankers during the third quarter worth $2,037,000. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CFR has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price objective on Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a research note on Thursday, March 13th. DA Davidson lowered shares of Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and raised their price objective for the company from $138.00 to $143.00 in a research report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Evercore ISI raised 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. Finally, Barclays increased their price objective on Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Friday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $132.14.

Cullen/Frost Bankers Stock Performance

CFR traded up $4.74 during midday trading on Friday, hitting $125.08. 550,290 shares of the company traded hands, compared to its average volume of 466,531. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. The company's 50-day moving average is $119.84 and its 200 day moving average is $131.00. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The firm has a market capitalization of $8.04 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 6.46 and a beta of 0.67.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, topping the consensus estimate of $2.17 by $0.13. The company had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. During the same quarter in the previous year, the company posted $2.15 earnings per share. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, May 30th. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a yield of 3.20%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 41.71%.

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.