LRI Investments LLC Takes $146,000 Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

LRI Investments LLC bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 1,360 shares of the bank’s stock, valued at approximately $146,000.

A number of other institutional investors have also recently added to or reduced their stakes in CFR. Westwood Holdings Group Inc. raised its stake in shares of Cullen/Frost Bankers by 16.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 432,866 shares of the bank’s stock worth $48,728,000 after buying an additional 60,987 shares in the last quarter. Natixis bought a new stake in Cullen/Frost Bankers in the first quarter worth about $957,000. CANADA LIFE ASSURANCE Co lifted its holdings in Cullen/Frost Bankers by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 47,534 shares of the bank’s stock valued at $5,350,000 after acquiring an additional 967 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Cullen/Frost Bankers by 24.5% during the 1st quarter. Bessemer Group Inc. now owns 15,854 shares of the bank’s stock valued at $1,785,000 after purchasing an additional 3,116 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its stake in shares of Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after purchasing an additional 495,215 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Up 1.7 %

Shares of NYSE:CFR traded up $2.03 during midday trading on Friday, hitting $119.74. The stock had a trading volume of 596,326 shares, compared to its average volume of 659,032. The company has a market cap of $7.69 billion, a P/E ratio of 14.15, a PEG ratio of 1.50 and a beta of 1.03. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $123.17. The business’s 50-day simple moving average is $102.68 and its 200-day simple moving average is $105.89. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.72% and a net margin of 24.88%. During the same period in the previous year, the business earned $2.47 earnings per share. On average, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.46 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.95 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.17%. Cullen/Frost Bankers’s dividend payout ratio is presently 44.92%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reduced their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. DA Davidson lifted their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday. Evercore ISI reduced their price objective on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research note on Tuesday, June 25th. StockNews.com raised shares of Cullen/Frost Bankers to a “sell” rating in a research report on Saturday, May 4th. Finally, Maxim Group upped their price target on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $117.79.

Cullen/Frost Bankers Company 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.