Qube Research & Technologies Ltd Takes $293,000 Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Qube Research & Technologies Ltd acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,133 shares of the bank’s stock, valued at approximately $293,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Cullen/Frost Bankers by 27.8% in the first quarter. JPMorgan Chase & Co. now owns 2,757,310 shares of the bank’s stock worth $267,652,000 after purchasing an additional 600,509 shares during the period. King Luther Capital Management Corp lifted its position in Cullen/Frost Bankers by 1.5% in the first quarter. King Luther Capital Management Corp now owns 2,221,397 shares of the bank’s stock worth $215,631,000 after purchasing an additional 32,613 shares during the period. Principal Financial Group Inc. lifted its position in Cullen/Frost Bankers by 3.3% in the first quarter. Principal Financial Group Inc. now owns 1,334,680 shares of the bank’s stock worth $129,558,000 after purchasing an additional 42,887 shares during the period. Champlain Investment Partners LLC lifted its position in Cullen/Frost Bankers by 3.6% in the first quarter. Champlain Investment Partners LLC now owns 969,405 shares of the bank’s stock worth $94,100,000 after purchasing an additional 33,570 shares during the period. Finally, Geode Capital Management LLC lifted its position in Cullen/Frost Bankers by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 611,344 shares of the bank’s stock worth $53,761,000 after purchasing an additional 2,895 shares during the period. 80.78% of the stock is owned by institutional investors.

In other Cullen/Frost Bankers news, Director Carlos Alvarez bought 30,000 shares of the stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $85.08 per share, for a total transaction of $2,552,400.00. Following the completion of the purchase, the director now owns 454,000 shares in the company, valued at approximately $38,626,320. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles W. Matthews bought 1,000 shares of the stock in a transaction dated Monday, June 10th. The stock was acquired at an average price of $94.32 per share, with a total value of $94,320.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $282,960. The disclosure for this purchase can be found here. Company insiders own 4.84% of the company’s stock.

CFR has been the subject of several research reports. Wedbush raised their target price on Cullen/Frost Bankers from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Zacks Investment Research raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Monday, May 20th. ValuEngine raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Bank of America cut Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $102.00 to $87.00 in a report on Thursday, July 11th. They noted that the move was a valuation call. Finally, Maxim Group reissued a “buy” rating and set a $105.00 price objective (down from $110.00) on shares of Cullen/Frost Bankers in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $99.33.

Shares of NYSE CFR traded up $0.10 during midday trading on Wednesday, reaching $84.47. 4,396 shares of the company traded hands, compared to its average volume of 391,910. The firm has a market cap of $5.31 billion, a PE ratio of 12.23, a PEG ratio of 1.30 and a beta of 1.33. The stock’s 50-day simple moving average is $90.76 and its 200-day simple moving average is $96.89. Cullen/Frost Bankers, Inc. has a 12 month low of $81.74 and a 12 month high of $114.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.60 and a current ratio of 0.60.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.72. The company had revenue of $360.39 million during the quarter, compared to analysts’ expectations of $364.59 million. Cullen/Frost Bankers had a return on equity of 13.85% and a net margin of 31.57%. During the same period last year, the business earned $1.68 earnings per share. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 6.85 EPS for the current year.

Cullen/Frost Bankers announced that its Board of Directors has authorized a share buyback plan on Thursday, July 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to purchase up to 1.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.36%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 41.16%.

Cullen/Frost Bankers Profile

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.

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

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