Dynamic Technology Lab Private Ltd Takes $793,000 Position in Cullen/Frost Bankers, Inc. $CFR

Dynamic Technology Lab Private Ltd bought a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,170 shares of the bank’s stock, valued at approximately $793,000.

Several other institutional investors have also recently added to or reduced their stakes in CFR. M.E. Allison & CO. Inc. raised its stake in shares of Cullen/Frost Bankers by 35.1% in the second quarter. M.E. Allison & CO. Inc. now owns 8,734 shares of the bank’s stock valued at $1,123,000 after acquiring an additional 2,270 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Cullen/Frost Bankers during the 1st quarter worth approximately $241,000. Victory Capital Management Inc. increased its holdings in Cullen/Frost Bankers by 55.9% during the 1st quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank’s stock valued at $2,264,000 after purchasing an additional 6,484 shares in the last quarter. Norden Group LLC acquired a new stake in Cullen/Frost Bankers during the 1st quarter valued at $214,000. Finally, HB Wealth Management LLC raised its position in Cullen/Frost Bankers by 18.9% in the 2nd quarter. HB Wealth Management LLC now owns 2,255 shares of the bank’s stock valued at $290,000 after purchasing an additional 358 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Stock Up 3.2%

Shares of NYSE:CFR opened at $123.68 on Friday. 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 stock has a market cap of $7.91 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 2.94 and a beta of 0.74. The company has a 50 day moving average of $124.78 and a 200-day moving average of $127.73. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.29. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The firm had revenue of $567.27 million for the quarter, compared to analysts’ expectations of $565.54 million. During the same period last year, the firm earned $2.24 earnings per share. On average, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, November 28th. Cullen/Frost Bankers’s dividend payout ratio is currently 41.15%.

Wall Street Analysts Forecast Growth

CFR has been the subject of a number of research reports. TD Cowen upgraded Cullen/Frost Bankers to a “strong-buy” rating in a research note on Thursday, September 25th. Citigroup raised their price objective on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a research report on Friday, October 31st. Barclays reduced their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Cantor Fitzgerald started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 price target for the company. Finally, Raymond James Financial dropped their price objective on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $136.75.

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.