Cullen/Frost Bankers, Inc. $CFR Shares Purchased by Whittier Trust Co.

Whittier Trust Co. raised its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,729 shares of the bank’s stock after purchasing an additional 1,482 shares during the period. Whittier Trust Co.’s holdings in Cullen/Frost Bankers were worth $8,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in Cullen/Frost Bankers during the 1st quarter valued at about $30,000. eCIO Inc. acquired a new stake in shares of Cullen/Frost Bankers in the 1st quarter worth approximately $36,000. Geneos Wealth Management Inc. lifted its stake in shares of 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 acquiring an additional 106 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Cullen/Frost Bankers in the 1st quarter worth approximately $57,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Cullen/Frost Bankers in the 1st quarter worth approximately $58,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Down 0.3%

NYSE CFR opened at $124.78 on Wednesday. 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 company’s 50 day simple moving average is $127.16 and its 200 day simple moving average is $126.14. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $147.64. The company has a market capitalization of $8.03 billion, a P/E ratio of 13.43, a PEG ratio of 3.03 and a beta of 0.71.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The business had revenue of $567.83 million for the quarter, compared to the consensus estimate of $552.04 million. During the same period in the previous year, the firm earned $2.21 EPS. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.2%. Cullen/Frost Bankers’s payout ratio is currently 43.06%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CFR. Barclays reduced their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a research note on Thursday, September 25th. Cantor Fitzgerald began coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 price target for the company. Raymond James Financial reduced their price target on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. Finally, Royal Bank Of Canada upped their price target on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $137.62.

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.