Riggs Asset Managment Co. Inc. Grows Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Riggs Asset Managment Co. Inc. increased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 905.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,057 shares of the bank's stock after purchasing an additional 9,057 shares during the quarter. Riggs Asset Managment Co. Inc.'s holdings in Cullen/Frost Bankers were worth $1,091,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its position in Cullen/Frost Bankers by 10.3% during the 1st quarter. American Century Companies Inc. now owns 5,345 shares of the bank's stock valued at $740,000 after buying an additional 501 shares in the last quarter. Natixis Advisors L.P. bought a new position in Cullen/Frost Bankers during the 1st quarter valued at approximately $1,736,000. BlackRock Inc. increased its position in Cullen/Frost Bankers by 0.8% during the 1st quarter. BlackRock Inc. now owns 5,032,068 shares of the bank's stock valued at $696,489,000 after buying an additional 39,554 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Cullen/Frost Bankers by 9.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 31,607 shares of the bank's stock valued at $4,501,000 after buying an additional 2,600 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Cullen/Frost Bankers during the 1st quarter valued at approximately $211,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Activity at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction on Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at $10,543,972. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul Bracher sold 9,820 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at $10,543,972. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bobby Berman sold 1,312 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares in the company, valued at $2,934,204.35. The disclosure for this sale can be found here. 2.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CFR. Keefe, Bruyette & Woods reduced their price objective on Cullen/Frost Bankers from $125.00 to $118.00 and set a "market perform" rating for the company in a research report on Friday, January 26th. Wedbush reissued a "neutral" rating and issued a $115.00 target price on shares of Cullen/Frost Bankers in a report on Friday, January 26th. Royal Bank of Canada reissued a "sector perform" rating and issued a $118.00 target price on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. Jefferies Financial Group lifted their target price on Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a "hold" rating in a report on Monday, April 8th. Finally, Evercore ISI lifted their target price on Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an "underperform" rating in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers has an average rating of "Hold" and a consensus target price of $117.92.

Cullen/Frost Bankers Stock Performance

NYSE CFR traded up $2.46 on Friday, hitting $111.55. 445,215 shares of the company traded hands, compared to its average volume of 303,960. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.35 and a beta of 1.03. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.06. The business's 50 day moving average price is $108.62 and its 200-day moving average price is $103.13. Cullen/Frost Bankers, Inc. has a 52-week low of $82.25 and a 52-week high of $120.31.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results on Thursday, January 25th. The bank reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.17. The company had revenue of $523.66 million for the quarter, compared to the consensus estimate of $498.09 million. Cullen/Frost Bankers had a return on equity of 19.66% and a net margin of 22.60%. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.49 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.68 annualized dividend and a yield of 3.30%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 40.44%.

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.