HB Wealth Management LLC Acquires 358 Shares of Cullen/Frost Bankers, Inc. $CFR

HB Wealth Management LLC lifted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 18.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,255 shares of the bank’s stock after acquiring an additional 358 shares during the quarter. HB Wealth Management LLC’s holdings in Cullen/Frost Bankers were worth $290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new stake in Cullen/Frost Bankers during the 1st quarter valued at $241,000. State of Alaska Department of Revenue raised its holdings in Cullen/Frost Bankers by 2.9% during the 1st quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank’s stock valued at $942,000 after buying an additional 210 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Cullen/Frost Bankers by 55.9% during the 1st quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank’s stock valued at $2,264,000 after buying an additional 6,484 shares during the last quarter. Norden Group LLC bought a new stake in Cullen/Frost Bankers during the 1st quarter valued at $214,000. Finally, UMB Bank n.a. raised its holdings in Cullen/Frost Bankers by 59.6% during the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock valued at $49,000 after buying an additional 146 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CFR has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cullen/Frost Bankers in a report on Saturday, September 27th. Cantor Fitzgerald initiated coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They set a “neutral” rating and a $138.00 price target for the company. Barclays lowered their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Morgan Stanley boosted their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Finally, Evercore ISI boosted their price objective on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $137.31.

Cullen/Frost Bankers Stock Up 1.2%

NYSE:CFR opened at $128.06 on Tuesday. The firm’s 50-day moving average price is $127.31 and its 200-day moving average price is $125.88. The company has a market capitalization of $8.24 billion, a PE ratio of 13.78, a P/E/G ratio of 2.64 and a beta of 0.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last released 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. The firm had revenue of $567.83 million for the quarter, compared to the consensus estimate of $552.04 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same period in the prior year, the firm earned $2.21 EPS. On average, equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.1%. Cullen/Frost Bankers’s dividend payout ratio is currently 43.06%.

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.