Mmbg Investment Advisors CO. Purchases New Holdings in Cullen/Frost Bankers, Inc. $CFR

Mmbg Investment Advisors CO. acquired a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 2nd quarter, HoldingsChannel reports. The firm acquired 6,070 shares of the bank’s stock, valued at approximately $938,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. NewEdge Wealth LLC purchased a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at approximately $290,000. Great Lakes Advisors LLC acquired a new stake in shares of Cullen/Frost Bankers during the second quarter worth $671,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Cullen/Frost Bankers during the second quarter worth $265,000. First National Bank of Omaha purchased a new position in Cullen/Frost Bankers in the 2nd quarter valued at $4,979,000. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in Cullen/Frost Bankers in the 2nd quarter valued at $284,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CFR has been the subject of a number of analyst reports. Jefferies Financial Group upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $135.00 to $160.00 in a research report on Monday, July 6th. Stephens increased their price target on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Citigroup raised their price objective on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Morgan Stanley boosted their target price on Cullen/Frost Bankers from $133.00 to $141.00 and gave the stock an “underweight” rating in a research report on Monday, June 29th. Finally, Zacks Research raised Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $161.75.

Cullen/Frost Bankers Stock Down 1.6%

Shares of NYSE CFR opened at $164.73 on Thursday. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 2.59 and a beta of 0.53. Cullen/Frost Bankers, Inc. has a 52 week low of $119.00 and a 52 week high of $170.80. The firm has a 50-day moving average price of $158.94 and a 200 day moving average price of $146.33. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. The company had revenue of $576.01 million for the quarter, compared to analyst estimates of $589.72 million. During the same period in the prior year, the business posted $2.39 earnings per share. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.8 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 38.94%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Carol Jean Severyn sold 837 shares of Cullen/Frost Bankers stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total transaction of $124,118.73. Following the completion of the transaction, the executive vice president directly owned 12,712 shares of the company’s stock, valued at approximately $1,885,062.48. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.14% of the company’s stock.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.