Connor Clark & Lunn Investment Management Ltd. Buys Shares of 3,434 Cullen/Frost Bankers, Inc. $CFR

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the second quarter, according to its most recent filing with the SEC. The firm purchased 3,434 shares of the bank’s stock, valued at approximately $441,000.

A number of other institutional investors and hedge funds have also modified their holdings of CFR. Hantz Financial Services Inc. increased its stake in Cullen/Frost Bankers by 8,800.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 267 shares of the bank’s stock valued at $34,000 after purchasing an additional 264 shares in the last quarter. eCIO Inc. acquired a new stake in Cullen/Frost Bankers in the first quarter valued at $36,000. Geneos Wealth Management Inc. increased its position in shares of Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after buying an additional 106 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter worth $57,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter worth $58,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CFR. Evercore ISI increased 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 note on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cullen/Frost Bankers in a research report on Monday. Citigroup raised their price objective on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the stock a “sell” rating in a research note on Friday, October 31st. Barclays reduced their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. Finally, Morgan Stanley raised their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $136.75.

Cullen/Frost Bankers Stock Down 1.2%

CFR stock opened at $119.81 on Friday. The company has a 50 day moving average price of $124.86 and a two-hundred day moving average price of $127.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $7.66 billion, a P/E ratio of 12.90, a PEG ratio of 2.94 and a beta of 0.74. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.29. The company had revenue of $567.27 million for the quarter, compared to analyst estimates of $565.54 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.During the same quarter in the prior year, the company posted $2.24 EPS. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 41.15%.

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.