Geode Capital Management LLC Increases Stock Position in Cullen/Frost Bankers, Inc. $CFR

Geode Capital Management LLC boosted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,154,566 shares of the bank’s stock after purchasing an additional 9,332 shares during the period. Geode Capital Management LLC owned approximately 1.80% of Cullen/Frost Bankers worth $149,558,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

CFR has been the topic of a number of recent analyst reports. Citigroup upped their target price on Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a research report on Friday, October 31st. Barclays cut their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Cantor Fitzgerald started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They set a “neutral” rating and a $138.00 price objective for the company. Royal Bank Of Canada boosted their target price on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Finally, TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus price target of $136.75.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $120.64 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $125.12 and its two-hundred day moving average price is $127.80. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $147.64. The stock has a market capitalization of $7.71 billion, a P/E ratio of 12.99, a P/E/G ratio of 2.94 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.29. The business had revenue of $567.27 million for 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 period in the prior year, the firm earned $2.24 EPS. As a group, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, November 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 41.15%.

Cullen/Frost Bankers 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.