Balyasny Asset Management L.P. Invests $7.77 Million in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Balyasny Asset Management L.P. bought a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 57,895 shares of the bank’s stock, valued at approximately $7,772,000. Balyasny Asset Management L.P. owned about 0.09% of Cullen/Frost Bankers as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Cullen/Frost Bankers during the 3rd quarter worth $29,000. UMB Bank n.a. lifted its position in shares of Cullen/Frost Bankers by 45.8% during the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares in the last quarter. Blue Trust Inc. boosted its holdings in Cullen/Frost Bankers by 239.0% during the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock worth $46,000 after purchasing an additional 239 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in 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 purchasing an additional 120 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Cullen/Frost Bankers in the 4th quarter valued at about $106,000. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson bought 1,870 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were acquired at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the purchase, the chief accounting officer now directly owns 5,545 shares of the company’s stock, valued at $93,876.85. The trade was a 50.88 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.89% of the stock is currently owned by insiders.

Cullen/Frost Bankers Stock Down 0.2 %

Cullen/Frost Bankers stock opened at $124.80 on Friday. The firm has a 50 day simple moving average of $118.71 and a 200 day simple moving average of $131.03. 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 1-year low of $94.09 and a 1-year high of $147.64. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 6.46 and a beta of 0.67.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.13. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. The company had revenue of $560.42 million for the quarter, compared to analyst estimates of $540.57 million. During the same period in the previous year, the company posted $2.15 EPS. On average, analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $4.00 annualized dividend and a yield of 3.21%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. Cullen/Frost Bankers’s payout ratio is currently 43.91%.

Analyst Ratings Changes

CFR has been the topic of a number of research analyst reports. 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 note on Friday, May 2nd. Royal Bank of Canada reduced their price objective on Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Morgan Stanley lowered their target price on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating on the stock in a research note on Thursday, March 13th. Barclays increased their price target on shares of Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Finally, DA Davidson lowered shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $138.00 to $143.00 in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $132.14.

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.