Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Purchased by Northern Trust Corp

Northern Trust Corp lifted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 33.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 973,576 shares of the bank's stock after acquiring an additional 245,458 shares during the period. Northern Trust Corp owned approximately 1.52% of Cullen/Frost Bankers worth $130,703,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. grew its stake in shares of Cullen/Frost Bankers by 45.8% during the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank's stock worth $33,000 after buying an additional 77 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $29,000. Blue Trust Inc. grew its holdings in Cullen/Frost Bankers by 239.0% in the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank's stock worth $46,000 after purchasing an additional 239 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Cullen/Frost Bankers by 35.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock valued at $62,000 after acquiring an additional 120 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Cullen/Frost Bankers in the fourth quarter valued at $106,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Down 0.9 %

Shares of NYSE CFR traded down $1.17 during trading on Tuesday, reaching $122.49. The company had a trading volume of 344,766 shares, compared to its average volume of 465,052. 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 stock has a market cap of $7.87 billion, a PE ratio of 13.81, a P/E/G ratio of 6.46 and a beta of 0.67. The business's 50-day moving average is $119.60 and its 200 day moving average is $131.11. 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, May 1st. The bank reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.13. The business had revenue of $560.42 million for the quarter, compared to analysts' expectations of $540.57 million. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. During the same quarter last year, the company posted $2.15 EPS. As a group, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.27%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date is Friday, May 30th. Cullen/Frost Bankers's dividend payout ratio is currently 41.71%.

Wall Street Analyst Weigh In

CFR has been the subject of several analyst reports. Stephens increased their target price on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a report on Friday. DA Davidson downgraded Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and raised their target price for the stock from $138.00 to $143.00 in a research note on Monday, February 3rd. Evercore ISI upgraded Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price on the stock in a research note on Friday. Royal Bank of Canada cut their price objective on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday. Finally, Morgan Stanley decreased their price objective on Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Cullen/Frost Bankers has a consensus rating of "Hold" and a consensus price target of $132.14.

Insider Activity

In related news, CAO Matthew Bradley Henson acquired 1,870 shares of the stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the purchase, the chief accounting officer now owns 5,545 shares of the company's stock, valued at approximately $93,876.85. This represents a 50.88 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.89% of the company's stock.

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.