Point72 Asset Management L.P. Acquires Shares of 133,559 Cullen/Frost Bankers, Inc. (NYSE:CFR)

Point72 Asset Management L.P. bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 133,559 shares of the bank’s stock, valued at approximately $13,574,000. Point72 Asset Management L.P. owned approximately 0.21% of Cullen/Frost Bankers as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at approximately $33,000. CWM LLC grew its position in Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares during the last quarter. Whittier Trust Co. increased its stake in Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after purchasing an additional 186 shares during the period. Parallel Advisors LLC raised its holdings in shares of Cullen/Frost Bankers by 89.7% in the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after buying an additional 218 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Cullen/Frost Bankers during the second quarter worth about $54,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CFR shares. Maxim Group boosted their price target on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group cut their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Stephens lifted their price objective on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, Morgan Stanley lowered their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and an average price target of $120.07.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the transaction, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares in the company, valued at $2,243,796.45. The disclosure for this sale can be found here. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Trading Up 0.7 %

Shares of CFR stock opened at $111.96 on Tuesday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $82.25 and a fifty-two week high of $123.17. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $110.73 and a 200-day simple moving average of $107.03. The stock has a market cap of $7.19 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.36 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. The company had revenue of $528.81 million during the quarter, compared to analysts’ expectations of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter in the previous year, the business posted $2.47 earnings per share. On average, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Friday, August 30th. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s payout ratio is currently 44.92%.

Cullen/Frost Bankers Profile

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.