Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 40.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 574 shares of the bank’s stock after buying an additional 166 shares during the quarter. GAMMA Investing LLC’s holdings in Cullen/Frost Bankers were worth $65,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its position in shares of Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after purchasing an additional 106 shares during the period. Commerce Bank increased its stake in shares of Cullen/Frost Bankers by 1.0% during the 4th quarter. Commerce Bank now owns 13,047 shares of the bank’s stock valued at $1,415,000 after acquiring an additional 128 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Cullen/Frost Bankers by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 25,995 shares of the bank’s stock worth $2,371,000 after acquiring an additional 130 shares during the last quarter. Cardinal Capital Management grew its holdings in Cullen/Frost Bankers by 1.3% in the fourth quarter. Cardinal Capital Management now owns 10,459 shares of the bank’s stock valued at $1,135,000 after purchasing an additional 130 shares during the period. Finally, Tributary Capital Management LLC increased its position in Cullen/Frost Bankers by 2.0% during the fourth quarter. Tributary Capital Management LLC now owns 7,395 shares of the bank’s stock worth $802,000 after purchasing an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of CFR opened at $98.37 on Monday. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $120.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a fifty day moving average price of $103.96 and a 200 day moving average price of $106.11. The company has a market cap of $6.32 billion, a P/E ratio of 11.63, a PEG ratio of 1.23 and a beta of 1.02.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping the consensus estimate of $2.13 by $0.02. The business had revenue of $522.74 million during the quarter, compared to analyst estimates of $510.09 million. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same quarter in the prior year, the firm earned $2.70 earnings per share. On average, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.43 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.92 per share. The ex-dividend date was Thursday, May 30th. This represents a $3.68 annualized dividend and a dividend yield of 3.74%. Cullen/Frost Bankers’s dividend payout ratio is presently 43.50%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CFR. JPMorgan Chase & Co. boosted their target price on Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. StockNews.com raised shares of Cullen/Frost Bankers to a “sell” rating in a research report on Saturday, May 4th. Royal Bank of Canada restated a “sector perform” rating and set a $118.00 target price on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. Jefferies Financial Group increased their price target on Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, Truist Financial reduced their price objective on Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus price target of $117.46.

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.