Wedmont Private Capital Makes New Investment in Cullen/Frost Bankers, Inc. $CFR

Wedmont Private Capital acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,588 shares of the bank’s stock, valued at approximately $217,000.

Several other hedge funds also recently made changes to their positions in CFR. Alpine Bank Wealth Management purchased a new position in shares of Cullen/Frost Bankers during the first quarter worth about $30,000. eCIO Inc. purchased a new position in shares of Cullen/Frost Bankers during the first quarter worth about $36,000. Geneos Wealth Management Inc. grew its holdings in shares of Cullen/Frost Bankers by 40.8% during the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after buying an additional 106 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock worth $49,000 after buying an additional 146 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Cullen/Frost Bankers during the first quarter worth about $57,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

CFR stock opened at $124.95 on Tuesday. The firm has a 50 day moving average of $129.22 and a 200-day moving average of $125.62. Cullen/Frost Bankers, Inc. has a 12-month low of $100.31 and a 12-month high of $147.64. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 2.67 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $567.83 million during the quarter, compared to the consensus estimate of $552.04 million. During the same period last year, the firm earned $2.21 EPS. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 29th. Cullen/Frost Bankers’s payout ratio is currently 43.06%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CFR. Raymond James Financial lowered their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, August 4th. Barclays lowered their price target on Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Finally, Cantor Fitzgerald began coverage on Cullen/Frost Bankers in a report on Wednesday, September 10th. They set a “neutral” rating and a $138.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $134.79.

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.