Quantamental Technologies LLC Takes Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Quantamental Technologies LLC purchased a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 403 shares of the bank’s stock, valued at approximately $38,000.

Several other institutional investors have also added to or reduced their stakes in CFR. JPMorgan Chase & Co. raised its holdings in shares of Cullen/Frost Bankers by 27.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,757,310 shares of the bank’s stock valued at $267,652,000 after purchasing an additional 600,509 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE bought a new position in Cullen/Frost Bankers in the 2nd quarter worth $5,971,000. Fidelity National Financial Inc. bought a new position in Cullen/Frost Bankers in the 2nd quarter worth $5,784,000. Principal Financial Group Inc. raised its holdings in Cullen/Frost Bankers by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,334,680 shares of the bank’s stock worth $129,558,000 after acquiring an additional 42,887 shares during the period. Finally, First Trust Advisors LP raised its holdings in Cullen/Frost Bankers by 67.0% in the 2nd quarter. First Trust Advisors LP now owns 96,276 shares of the bank’s stock worth $9,017,000 after acquiring an additional 38,629 shares during the period. Institutional investors and hedge funds own 80.65% of the company’s stock.

CFR traded up $0.40 during trading on Friday, hitting $90.45. The stock had a trading volume of 421,146 shares, compared to its average volume of 320,452. The firm has a market cap of $5.64 billion, a PE ratio of 13.11, a P/E/G ratio of 1.39 and a beta of 1.38. Cullen/Frost Bankers, Inc. has a 12 month low of $79.86 and a 12 month high of $111.24. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.07. The company has a 50 day simple moving average of $86.46 and a 200-day simple moving average of $94.86.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.72 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.72. The company had revenue of $360.39 million for the quarter, compared to analyst estimates of $364.59 million. Cullen/Frost Bankers had a net margin of 31.57% and a return on equity of 13.85%. During the same period last year, the business posted $1.68 EPS. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 6.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.71 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.84 annualized dividend and a yield of 3.14%. Cullen/Frost Bankers’s dividend payout ratio is 41.16%.

Cullen/Frost Bankers announced that its board has initiated a stock repurchase program on Thursday, July 25th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Maxim Group reiterated a “buy” rating and issued a $105.00 target price (down previously from $110.00) on shares of Cullen/Frost Bankers in a report on Monday, July 29th. Bank of America downgraded shares of Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $102.00 to $87.00 in a report on Thursday, July 11th. They noted that the move was a valuation call. ValuEngine upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Finally, Piper Jaffray Companies set a $100.00 target price on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $99.33.

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

Cullen/Frost Bankers Company 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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