Cardinal Capital Management Has $2.22 Million Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Cardinal Capital Management boosted its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,743 shares of the bank’s stock after buying an additional 851 shares during the period. Cardinal Capital Management’s holdings in Cullen/Frost Bankers were worth $2,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CFR. Vanguard Group Inc. increased its position in Cullen/Frost Bankers by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,375,303 shares of the bank’s stock worth $855,884,000 after purchasing an additional 66,243 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Cullen/Frost Bankers by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,026,585 shares of the bank’s stock worth $137,823,000 after purchasing an additional 6,159 shares during the last quarter. GAMMA Investing LLC increased its position in Cullen/Frost Bankers by 122,282.2% in the 1st quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank’s stock worth $125,949,000 after purchasing an additional 1,005,160 shares during the last quarter. Northern Trust Corp increased its position in Cullen/Frost Bankers by 33.7% in the 4th quarter. Northern Trust Corp now owns 973,576 shares of the bank’s stock worth $130,703,000 after purchasing an additional 245,458 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Cullen/Frost Bankers by 1.1% in the 4th quarter. JPMorgan Chase & Co. now owns 834,015 shares of the bank’s stock worth $111,967,000 after purchasing an additional 9,050 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CFR has been the topic of several research reports. Evercore ISI raised Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 target price on the stock in a research report on Friday, May 2nd. Royal Bank of Canada dropped their target price on Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley dropped their target price on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating on the stock in a research report on Thursday, March 13th. Barclays upped their target price on Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Finally, Stephens increased their price objective 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. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $131.93.

Cullen/Frost Bankers Stock Performance

CFR opened at $123.63 on Tuesday. The firm has a market capitalization of $7.95 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 6.46 and a beta of 0.68. The stock’s 50 day moving average price is $122.35 and its two-hundred day moving average price is $129.53. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12-month low of $94.55 and a 12-month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results 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. The firm had revenue of $560.42 million for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $2.15 EPS. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $1.00 dividend. The ex-dividend date was Friday, May 30th. This represents a $4.00 dividend on an annualized basis and a yield of 3.24%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.91%.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson bought 1,870 shares of the stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $16.93 per share, with a total value of $31,659.10. Following the acquisition, the chief accounting officer now directly owns 5,545 shares of the company’s stock, valued at $93,876.85. This represents a 50.88% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.89% of the company’s stock.

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.