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

Whittier Trust Co. increased its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,729 shares of the bank’s stock after buying an additional 1,482 shares during the period. Whittier Trust Co. owned about 0.10% of Cullen/Frost Bankers worth $8,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFR. Impax Asset Management Group plc increased its stake in Cullen/Frost Bankers by 350.8% during the 1st quarter. Impax Asset Management Group plc now owns 518,387 shares of the bank’s stock worth $64,359,000 after buying an additional 403,387 shares during the period. Goldman Sachs Group Inc. increased its stake in Cullen/Frost Bankers by 61.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock worth $75,833,000 after buying an additional 230,993 shares during the period. Nuveen LLC purchased a new stake in Cullen/Frost Bankers during the 1st quarter worth $12,885,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Cullen/Frost Bankers during the 1st quarter worth $12,169,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in Cullen/Frost Bankers by 13.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 806,752 shares of the bank’s stock worth $103,700,000 after buying an additional 95,225 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 0.3%

NYSE CFR opened at $124.78 on Wednesday. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The company has a 50-day simple moving average of $127.16 and a 200-day simple moving average of $126.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $8.03 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 3.03 and a beta of 0.71.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.11. The firm had revenue of $567.83 million during the quarter, compared to analyst estimates of $552.04 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same period in the previous year, the business posted $2.21 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 Dividend Announcement

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

Wall Street Analyst Weigh In

CFR has been the subject of several research analyst reports. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a research report on Thursday, September 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, October 8th. Evercore ISI boosted their target price on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Cantor Fitzgerald assumed coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 target price for the company. Finally, Barclays decreased 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 report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $137.62.

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.