Raymond James Financial Inc. Buys New Shares in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Raymond James Financial Inc. purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 157,774 shares of the bank’s stock, valued at approximately $21,181,000. Raymond James Financial Inc. owned 0.25% of Cullen/Frost Bankers as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in CFR. Arizona State Retirement System increased its holdings in Cullen/Frost Bankers by 0.4% in the 4th quarter. Arizona State Retirement System now owns 17,651 shares of the bank’s stock worth $2,370,000 after buying an additional 74 shares during the period. Ballentine Partners LLC increased its stake in shares of Cullen/Frost Bankers by 3.7% in the fourth quarter. Ballentine Partners LLC now owns 2,164 shares of the bank’s stock worth $291,000 after acquiring an additional 77 shares during the period. UMB Bank n.a. raised its holdings in shares of Cullen/Frost Bankers by 45.8% during the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock worth $33,000 after purchasing an additional 77 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Cullen/Frost Bankers by 4.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,086 shares of the bank’s stock valued at $280,000 after purchasing an additional 86 shares during the period. Finally, Strategic Financial Concepts LLC lifted its position in Cullen/Frost Bankers by 4.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 2,187 shares of the bank’s stock valued at $294,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul Bracher sold 11,500 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $139.45, for a total value of $1,603,675.00. Following the transaction, the insider now directly owns 102,946 shares in the company, valued at approximately $14,355,819.70. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Up 0.3 %

NYSE CFR opened at $111.54 on Friday. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64. The company has a market cap of $7.17 billion, a P/E ratio of 12.57, a P/E/G ratio of 6.46 and a beta of 0.82. The business has a fifty day moving average price of $124.91 and a 200 day moving average price of $131.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Friday, February 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 42.84%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased their price objective on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, March 13th. Evercore ISI raised their price objective on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a research note on Monday, February 10th. Barclays started coverage on shares of Cullen/Frost Bankers in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $130.00 target price for the company. DA Davidson downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and increased their price target for the stock from $138.00 to $143.00 in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus price target of $132.57.

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.