Brandywine Global Investment Management LLC Makes New Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Brandywine Global Investment Management LLC purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 34,239 shares of the bank’s stock, valued at approximately $3,607,000. Brandywine Global Investment Management LLC owned approximately 0.05% of Cullen/Frost Bankers at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CFR. Capital Research Global Investors raised its position in shares of Cullen/Frost Bankers by 39.1% during the 1st quarter. Capital Research Global Investors now owns 2,408,656 shares of the bank’s stock worth $333,382,000 after buying an additional 676,467 shares in the last quarter. Norges Bank acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter worth approximately $81,228,000. Ceredex Value Advisors LLC grew its stake in shares of Cullen/Frost Bankers by 551.8% in the 1st quarter. Ceredex Value Advisors LLC now owns 615,414 shares of the bank’s stock worth $64,828,000 after purchasing an additional 521,000 shares during the last quarter. State Street Corp grew its stake in shares of Cullen/Frost Bankers by 11.0% in the 3rd quarter. State Street Corp now owns 4,224,699 shares of the bank’s stock worth $558,590,000 after purchasing an additional 419,766 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Cullen/Frost Bankers by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,252,456 shares of the bank’s stock worth $826,700,000 after purchasing an additional 234,639 shares during the last quarter. 81.39% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Price Performance

NYSE CFR opened at $94.93 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $6.09 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 1.09 and a beta of 1.06. The company has a 50 day moving average price of $105.00 and a two-hundred day moving average price of $107.20. Cullen/Frost Bankers, Inc. has a 12-month low of $92.55 and a 12-month high of $160.60.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $512.12 million during the quarter, compared to analysts’ expectations of $496.85 million. Cullen/Frost Bankers had a net margin of 29.14% and a return on equity of 22.93%. During the same period in the previous year, the company earned $1.81 earnings per share. As a group, equities analysts predict that Cullen/Frost Bankers, Inc. will post 9.27 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a dividend of $0.92 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.87. This represents a $3.68 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Wednesday, August 30th. Cullen/Frost Bankers’s dividend payout ratio is currently 34.49%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. DA Davidson lowered their price objective on shares of Cullen/Frost Bankers from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. Truist Financial lowered their price objective on shares of Cullen/Frost Bankers from $114.00 to $113.00 in a research note on Thursday, June 29th. UBS Group raised shares of Cullen/Frost Bankers from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $97.00 to $100.00 in a research report on Friday, August 25th. Royal Bank of Canada dropped their target price on shares of Cullen/Frost Bankers from $127.00 to $122.00 and set a “sector perform” rating on the stock in a research report on Friday, July 28th. Finally, Morgan Stanley dropped their target price on shares of Cullen/Frost Bankers from $121.00 to $116.00 in a research report on Friday, July 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $124.60.

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. 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; and treasury management services, as well as originates commercial leasing services.