Confluence Investment Management LLC Grows Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Confluence Investment Management LLC raised its position in Cullen/Frost Bankers, Inc. (NYSE:CFRGet Rating) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 158,388 shares of the bank’s stock after acquiring an additional 1,253 shares during the quarter. Confluence Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $18,444,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in Cullen/Frost Bankers during the first quarter worth about $27,000. Holloway Wealth Management LLC acquired a new stake in shares of Cullen/Frost Bankers in the 1st quarter valued at approximately $28,000. Covestor Ltd boosted its stake in shares of Cullen/Frost Bankers by 80.7% in the first quarter. Covestor Ltd now owns 309 shares of the bank’s stock valued at $43,000 after buying an additional 138 shares in the last quarter. Tcwp LLC acquired a new position in Cullen/Frost Bankers during the first quarter worth $46,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Cullen/Frost Bankers during the first quarter worth $107,000. Hedge funds and other institutional investors own 78.85% of the company’s stock.

Cullen/Frost Bankers Stock Down 2.4 %

CFR opened at $138.25 on Monday. The firm has a market cap of $8.87 billion, a P/E ratio of 21.24, a PEG ratio of 1.80 and a beta of 1.19. The business’s fifty day simple moving average is $131.36 and its 200 day simple moving average is $130.41. Cullen/Frost Bankers, Inc. has a 52 week low of $106.66 and a 52 week high of $147.39. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.07.

Cullen/Frost Bankers (NYSE:CFRGet Rating) last released its earnings results on Thursday, July 28th. The bank reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Cullen/Frost Bankers had a net margin of 29.19% and a return on equity of 11.13%. During the same period last year, the business posted $1.80 EPS. As a group, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.09 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $3.48 dividend on an annualized basis and a yield of 2.52%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.75. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 53.46%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wedbush upgraded shares of Cullen/Frost Bankers to a “neutral” rating in a research report on Tuesday, August 9th. Stephens increased their target price on shares of Cullen/Frost Bankers from $133.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, August 2nd. Raymond James reduced their price target on shares of Cullen/Frost Bankers from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, July 7th. JPMorgan Chase & Co. upgraded Cullen/Frost Bankers from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $143.00 to $155.00 in a report on Wednesday, June 15th. Finally, Compass Point upgraded Cullen/Frost Bankers from a “neutral” rating to a “buy” rating and set a $152.00 target price on the stock in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average price target of $141.08.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, insider Patrick B. Frost sold 18,000 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $128.19, for a total transaction of $2,307,420.00. Following the sale, the insider now owns 206,676 shares in the company, valued at $26,493,796.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Jerry Salinas sold 12,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $134.03, for a total transaction of $1,608,360.00. Following the transaction, the chief financial officer now directly owns 27,792 shares in the company, valued at approximately $3,724,961.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Patrick B. Frost sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $128.19, for a total transaction of $2,307,420.00. Following the completion of the sale, the insider now directly owns 206,676 shares in the company, valued at $26,493,796.44. The disclosure for this sale can be found here. 3.76% of the stock is currently owned by insiders.

About Cullen/Frost Bankers

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Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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Want to see what other hedge funds are holding CFR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cullen/Frost Bankers, Inc. (NYSE:CFRGet Rating).

Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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