Raymond James Financial Inc. Has $20.72 Million Stake in Cullen/Frost Bankers, Inc. $CFR

Raymond James Financial Inc. boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,483 shares of the bank’s stock after purchasing an additional 7,709 shares during the quarter. Raymond James Financial Inc. owned 0.26% of Cullen/Frost Bankers worth $20,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ethic Inc. raised its position in shares of Cullen/Frost Bankers by 9.8% in the 1st quarter. Ethic Inc. now owns 4,362 shares of the bank’s stock valued at $540,000 after buying an additional 389 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cullen/Frost Bankers by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,057,294 shares of the bank’s stock valued at $132,365,000 after buying an additional 30,709 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at approximately $511,000. Prudential PLC acquired a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at approximately $5,819,000. Finally, Nuveen LLC acquired a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at approximately $12,885,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Trading Up 1.0%

CFR opened at $131.94 on Wednesday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64. 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 firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 2.74 and a beta of 0.70. The company’s 50 day moving average price is $130.45 and its two-hundred day moving average price is $127.01.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The firm had revenue of $567.83 million for the quarter, compared to analyst estimates of $552.04 million. During the same period in the previous year, the firm posted $2.21 EPS. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, August 29th. Cullen/Frost Bankers’s payout ratio is presently 43.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CFR. Royal Bank Of Canada dropped their target price on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Barclays dropped their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, May 21st. They set an “underperform” rating and a $105.00 price target on the stock. Evercore ISI raised shares of Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 price target on the stock in a report on Friday, May 2nd. Finally, Raymond James Financial decreased their price target on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $133.71.

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.