Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,480 shares of the bank’s stock after buying an additional 151 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cullen/Frost Bankers were worth $326,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Icon Wealth Partners LLC purchased a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $33,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $35,000. Machina Capital S.A.S. purchased a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth approximately $47,000. Ellis Investment Partners LLC purchased a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $89,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Cullen/Frost Bankers by 42.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 983 shares of the bank’s stock worth $95,000 after purchasing an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Bank of America lowered shares of Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $102.00 to $87.00 in a research note on Thursday, July 11th. They noted that the move was a valuation call. Wedbush raised their price target on shares of Cullen/Frost Bankers from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. Stephens set a $100.00 price objective on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, ValuEngine upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus target price of $99.33.

In other news, insider Patrick B. Frost sold 9,360 shares of Cullen/Frost Bankers stock in a transaction on Monday, July 29th. The shares were sold at an average price of $94.26, for a total transaction of $882,273.60. Following the completion of the sale, the insider now directly owns 157,433 shares of the company’s stock, valued at approximately $14,839,634.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos Alvarez acquired 30,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $85.08 per share, with a total value of $2,552,400.00. Following the completion of the acquisition, the director now directly owns 454,000 shares in the company, valued at approximately $38,626,320. The disclosure for this purchase can be found here. Insiders own 4.84% of the company’s stock.

NYSE:CFR traded down $1.23 during trading hours on Tuesday, hitting $84.49. The stock had a trading volume of 7,837 shares, compared to its average volume of 391,910. The company has a 50 day simple moving average of $90.96 and a two-hundred day simple moving average of $96.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.60 and a quick ratio of 0.60. Cullen/Frost Bankers, Inc. has a one year low of $81.74 and a one year high of $114.86. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.30 and a beta of 1.33.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.72. Cullen/Frost Bankers had a net margin of 31.57% and a return on equity of 13.85%. The firm had revenue of $360.39 million during the quarter, compared to the consensus estimate of $364.59 million. During the same period last year, the firm earned $1.68 EPS. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 6.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Thursday, August 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 41.16%.

Cullen/Frost Bankers declared that its Board of Directors has approved a share repurchase program on Thursday, July 25th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 1.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the 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.

See Also: Holder of Record

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

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