Cullen/Frost Bankers, Inc. (NYSE:CFR) Stock Holdings Increased by Whittier Trust Co.

Whittier Trust Co. raised its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,247 shares of the bank’s stock after acquiring an additional 1,598 shares during the period. Whittier Trust Co.’s holdings in Cullen/Frost Bankers were worth $8,044,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Cullen/Frost Bankers during the 1st quarter valued at $30,000. UMB Bank n.a. raised its stake in shares of Cullen/Frost Bankers by 59.6% in the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock worth $49,000 after buying an additional 146 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Cullen/Frost Bankers by 35.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank’s stock worth $62,000 after buying an additional 120 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Cullen/Frost Bankers by 33.8% in the 1st quarter. Parallel Advisors LLC now owns 522 shares of the bank’s stock worth $65,000 after buying an additional 132 shares in the last quarter. Finally, Reyes Financial Architecture Inc. raised its stake in shares of Cullen/Frost Bankers by 38.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank’s stock worth $159,000 after buying an additional 354 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CFR shares. Royal Bank Of Canada dropped their price objective on Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Barclays boosted their price objective on Cullen/Frost Bankers from $135.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Jefferies Financial Group started coverage on Cullen/Frost Bankers in a research note on Wednesday, May 21st. They issued an “underperform” rating and a $105.00 price objective on the stock. Raymond James Financial raised Cullen/Frost Bankers from a “market perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Tuesday, July 8th. Finally, Stephens boosted their target price on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $134.79.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson purchased 1,870 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average cost of $16.93 per share, with a total value of $31,659.10. Following the completion of the transaction, the chief accounting officer owned 5,545 shares of the company’s stock, valued at approximately $93,876.85. This represents a 50.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Cullen/Frost Bankers Stock Down 3.3%

Shares of Cullen/Frost Bankers stock opened at $132.92 on Wednesday. The stock’s fifty day moving average is $129.17 and its 200-day moving average is $128.77. The firm has a market capitalization of $8.55 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 2.91 and a beta of 0.68. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12-month low of $100.31 and a 12-month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.13. The firm had revenue of $560.42 million for the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. During the same period in the previous year, the firm earned $2.15 earnings per share. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.01%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. The ex-dividend date was Friday, May 30th. Cullen/Frost Bankers’s payout ratio is presently 43.91%.

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.