Raymond James Financial Inc. Acquires New Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Raymond James Financial Inc. acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 157,774 shares of the bank's stock, valued at approximately $21,181,000. Raymond James Financial Inc. owned approximately 0.25% of Cullen/Frost Bankers as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CFR. Wilmington Savings Fund Society FSB acquired a new position in shares of Cullen/Frost Bankers during the third quarter worth $29,000. UMB Bank n.a. grew its stake in Cullen/Frost Bankers by 45.8% during the 4th 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. Blue Trust Inc. increased 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 buying an additional 239 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Cullen/Frost Bankers by 35.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock valued at $62,000 after buying an additional 120 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Cullen/Frost Bankers in the fourth quarter worth about $106,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock traded up $0.12 during trading hours on Thursday, reaching $114.90. The stock had a trading volume of 42,452 shares, compared to its average volume of 466,570. The stock's 50 day moving average is $123.11 and its 200 day moving average is $130.94. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $147.64. The firm has a market capitalization of $7.39 billion, a PE ratio of 12.95, a PEG ratio of 6.46 and a beta of 0.82.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share (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%. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Friday, February 28th. Cullen/Frost Bankers's payout ratio is 42.84%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Evercore ISI lifted their price objective on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an "underperform" rating in a research note on Monday, February 10th. Morgan Stanley cut their target price on Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating on the stock in a research report on Thursday, March 13th. DA Davidson cut Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $138.00 to $143.00 in a research report on Monday, February 3rd. Finally, Barclays started coverage on Cullen/Frost Bankers in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $130.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of "Hold" and a consensus price target of $132.57.

Insider Activity

In other news, insider Paul Bracher sold 11,500 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $139.45, for a total value of $1,603,675.00. Following the transaction, the insider now owns 102,946 shares in the company, valued at $14,355,819.70. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.20% of the company's stock.

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.