Cardinal Capital Management Raises Holdings in Cullen/Frost Bankers, Inc. (CFR)

Cardinal Capital Management boosted its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,628 shares of the bank’s stock after acquiring an additional 136 shares during the period. Cardinal Capital Management’s holdings in Cullen/Frost Bankers were worth $740,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vigilant Capital Management LLC acquired a new stake in Cullen/Frost Bankers in the 1st quarter valued at about $85,000. Deutsche Bank AG lifted its stake in Cullen/Frost Bankers by 78.1% during the fourth quarter. Deutsche Bank AG now owns 170,264 shares of the bank’s stock valued at $14,971,000 after buying an additional 74,639 shares in the last quarter. Trinity Legacy Partners LLC purchased a new stake in Cullen/Frost Bankers during the fourth quarter valued at about $2,508,000. Geode Capital Management LLC lifted its position in shares of Cullen/Frost Bankers by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 611,344 shares of the bank’s stock worth $53,761,000 after purchasing an additional 2,895 shares in the last quarter. Finally, Sowell Financial Services LLC lifted its position in shares of Cullen/Frost Bankers by 9.7% in the fourth quarter. Sowell Financial Services LLC now owns 2,610 shares of the bank’s stock worth $230,000 after purchasing an additional 230 shares in the last quarter. 81.23% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on CFR shares. Bank of America lowered shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and set a $96.00 price target for the company. in a research report on Thursday, January 10th. Barclays restated a “hold” rating and issued a $105.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, January 11th. Zacks Investment Research downgraded Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Wednesday, February 6th. Stephens set a $104.00 price objective on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Friday, February 8th. Finally, Wedbush raised their price objective on shares of Cullen/Frost Bankers from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $104.30.

In other news, EVP Carol Jean Severyn sold 3,750 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $100.62, for a total transaction of $377,325.00. Following the completion of the transaction, the executive vice president now directly owns 1,250 shares in the company, valued at approximately $125,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Phillip D. Green sold 14,210 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.91, for a total value of $1,448,141.10. Following the transaction, the chairman now owns 34,337 shares of the company’s stock, valued at $3,499,283.67. The disclosure for this sale can be found here. 4.84% of the stock is owned by company insiders.

Shares of NYSE:CFR opened at $103.21 on Friday. Cullen/Frost Bankers, Inc. has a twelve month low of $81.87 and a twelve month high of $121.66. The firm has a market capitalization of $6.42 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.52 and a beta of 1.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.61 and a quick ratio of 0.61.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $1.79 EPS for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.04. The firm had revenue of $367.96 million during the quarter, compared to analyst estimates of $366.47 million. Cullen/Frost Bankers had a return on equity of 14.30% and a net margin of 32.16%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $1.61 earnings per share. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 7.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.75%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 38.84%.

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About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

Further Reading: Bollinger Bands

Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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