Princeton Capital Management LLC Invests $257,000 in Cullen/Frost Bankers, Inc. $CFR

Princeton Capital Management LLC purchased a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,000 shares of the bank’s stock, valued at approximately $257,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its holdings in shares of Cullen/Frost Bankers by 8.0% during the second quarter. AlphaQuest LLC now owns 1,082 shares of the bank’s stock valued at $139,000 after acquiring an additional 80 shares during the period. Cardinal Capital Management lifted its position in Cullen/Frost Bankers by 0.5% in the 2nd quarter. Cardinal Capital Management now owns 17,824 shares of the bank’s stock valued at $2,291,000 after purchasing an additional 81 shares during the last quarter. LaSalle St. Investment Advisors LLC lifted its position in Cullen/Frost Bankers by 4.0% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,165 shares of the bank’s stock valued at $271,000 after purchasing an additional 84 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Cullen/Frost Bankers by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock valued at $2,327,000 after purchasing an additional 100 shares during the period. Finally, State of Michigan Retirement System grew its position in Cullen/Frost Bankers by 0.7% in the 2nd quarter. State of Michigan Retirement System now owns 15,464 shares of the bank’s stock worth $1,988,000 after purchasing an additional 100 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Trading Down 0.3%

Shares of Cullen/Frost Bankers stock opened at $123.70 on Friday. The business has a fifty day simple moving average of $126.04 and a 200-day simple moving average of $127.28. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 2.94 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, topping the consensus estimate of $2.38 by $0.29. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The firm had revenue of $589.31 million for the quarter, compared to analysts’ expectations of $565.54 million. During the same period in the previous year, the business earned $2.24 earnings per share. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, November 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 41.15%.

Analyst Upgrades and Downgrades

CFR has been the topic of a number of recent analyst reports. TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a report on Thursday, September 25th. Barclays lowered their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, October 8th. Royal Bank Of Canada increased their price target on Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. Finally, Morgan Stanley lifted their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $136.75.

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.