EFG Asset Management North America Corp. Takes Position in Cullen/Frost Bankers, Inc. $CFR

EFG Asset Management North America Corp. purchased a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,596 shares of the bank’s stock, valued at approximately $2,515,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. boosted its stake in shares of Cullen/Frost Bankers by 8,800.0% in the second quarter. Hantz Financial Services Inc. now owns 267 shares of the bank’s stock worth $34,000 after acquiring an additional 264 shares during the period. eCIO Inc. purchased a new position in Cullen/Frost Bankers in the 1st quarter worth approximately $36,000. Geneos Wealth Management Inc. boosted its stake in Cullen/Frost Bankers by 40.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after purchasing an additional 106 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Cullen/Frost Bankers during the 1st quarter valued at approximately $57,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in Cullen/Frost Bankers during the 1st quarter valued at approximately $58,000. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Trading Up 0.6%

Shares of NYSE CFR opened at $124.03 on Thursday. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. The business’s 50 day moving average is $126.19 and its two-hundred day moving average is $127.30. The stock has a market capitalization of $7.93 billion, a P/E ratio of 13.35, a PEG ratio of 2.94 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.29. The firm had revenue of $589.31 million during the quarter, compared to analysts’ expectations of $565.54 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.During the same quarter in the previous year, the business earned $2.24 EPS. As a group, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. Cullen/Frost Bankers’s dividend payout ratio is currently 41.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CFR shares. Raymond James Financial dropped their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, August 4th. Morgan Stanley increased their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Evercore ISI raised their price objective on Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Barclays decreased 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. Finally, Royal Bank Of Canada increased their price target on Cullen/Frost Bankers from $140.00 to $144.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.