7,465 Shares in Cullen/Frost Bankers, Inc. $CFR Bought by Carnegie Investment Counsel

Carnegie Investment Counsel bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,465 shares of the bank’s stock, valued at approximately $960,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. eCIO Inc. bought a new position in shares of Cullen/Frost Bankers during the first quarter worth $36,000. Geneos Wealth Management Inc. boosted its position in shares of Cullen/Frost Bankers by 40.8% during the first 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 last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Cullen/Frost Bankers during the first quarter worth $57,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Cullen/Frost Bankers during the first quarter worth $58,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of Cullen/Frost Bankers during the second quarter worth $75,000. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CFR has been the subject of several research reports. Barclays lowered their price objective on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Evercore ISI increased their price objective on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Royal Bank Of Canada increased their price objective on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, October 8th. Finally, TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a research report on Thursday, September 25th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $137.62.

Cullen/Frost Bankers Trading Up 1.2%

Shares of CFR opened at $124.97 on Friday. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $147.64. The company has a market cap of $8.04 billion, a P/E ratio of 13.45, a P/E/G ratio of 3.03 and a beta of 0.71. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $127.06 and its 200-day simple moving average is $126.52.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted $2.21 earnings per share. As a group, analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 43.06%.

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.