Cullen/Frost Bankers, Inc. $CFR Position Increased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3,892.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 100,368 shares of the bank’s stock after purchasing an additional 97,854 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.16% of Cullen/Frost Bankers worth $12,901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First National Advisers LLC raised its holdings in shares of Cullen/Frost Bankers by 1.3% during the 2nd quarter. First National Advisers LLC now owns 26,771 shares of the bank’s stock valued at $3,441,000 after purchasing an additional 343 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Cullen/Frost Bankers by 1.8% during the second quarter. New York State Common Retirement Fund now owns 129,699 shares of the bank’s stock valued at $16,672,000 after buying an additional 2,329 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Cullen/Frost Bankers during the second quarter worth about $279,000. Norges Bank bought a new position in Cullen/Frost Bankers during the second quarter valued at about $90,484,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Cullen/Frost Bankers by 2.9% in the second quarter. Quadrant Capital Group LLC now owns 7,101 shares of the bank’s stock valued at $913,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

CFR opened at $125.59 on Tuesday. The company has a fifty day moving average price of $124.40 and a two-hundred day moving average price of $127.47. The firm has a market capitalization of $8.03 billion, a PE ratio of 12.92, a P/E/G ratio of 2.94 and a beta of 0.64. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $146.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.29. Cullen/Frost Bankers had a return on equity of 15.84% and a net margin of 21.99%.The business had revenue of $567.27 million during the quarter, compared to the consensus estimate of $565.54 million. During the same quarter in the prior year, the company posted $2.24 earnings per share. As a group, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $4.00 annualized dividend and a yield of 3.2%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 41.15%.

Analysts Set New Price Targets

Several brokerages have recently commented on CFR. Weiss Ratings restated a “hold (c+)” rating on shares of Cullen/Frost Bankers in a research note on Monday, December 1st. Morgan Stanley raised their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Evercore ISI lifted their price target on Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Thursday, September 25th. Finally, Royal Bank Of Canada raised their price objective on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $136.75.

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.