Snowden Capital Advisors LLC Acquires New Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Snowden Capital Advisors LLC acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,572 shares of the bank’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. grew its holdings 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 during the last quarter. Blue Trust Inc. grew its holdings in shares of Cullen/Frost Bankers by 239.0% during the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after purchasing an additional 239 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Cullen/Frost Bankers by 35.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank’s stock valued at $62,000 after purchasing an additional 120 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $106,000. Finally, Americana Partners LLC bought a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $202,000. 86.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Matthew Bradley Henson bought 1,870 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was purchased at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the transaction, the chief accounting officer now directly owns 5,545 shares of the company’s stock, valued at approximately $93,876.85. This trade represents a 50.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on CFR. Barclays upped their target price on Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. DA Davidson lowered Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and upped their target price for the company from $138.00 to $143.00 in a report on Monday, February 3rd. Royal Bank of Canada lowered their target price on Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Stephens upped their target price on Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Finally, Evercore ISI upgraded Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 price objective for the company in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus target price of $131.93.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $126.60 on Friday. The company has a market cap of $8.14 billion, a PE ratio of 14.27, a P/E/G ratio of 6.46 and a beta of 0.67. 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 12-month low of $94.09 and a 12-month high of $147.64. The stock has a 50 day simple moving average of $119.67 and a 200-day simple moving average of $131.15.

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

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.16%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Friday, May 30th. Cullen/Frost Bankers’s dividend payout ratio is 43.91%.

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.