Cullen/Frost Bankers, Inc. $CFR Holdings Raised by Artemis Investment Management LLP

Artemis Investment Management LLP boosted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 19.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521,810 shares of the bank’s stock after purchasing an additional 85,267 shares during the period. Artemis Investment Management LLP’s holdings in Cullen/Frost Bankers were worth $79,665,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Cullen/Frost Bankers in the 2nd quarter valued at about $1,133,453,000. State Street Corp grew its position in shares of Cullen/Frost Bankers by 3.8% in the second quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock valued at $497,292,000 after purchasing an additional 118,313 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Cullen/Frost Bankers by 22.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank’s stock worth $429,204,000 after purchasing an additional 511,784 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cullen/Frost Bankers by 18.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after purchasing an additional 236,808 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Cullen/Frost Bankers by 11.8% during the 1st quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock worth $165,966,000 after purchasing an additional 127,483 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock traded up $1.21 during trading hours on Thursday, reaching $151.57. The stock had a trading volume of 141,306 shares, compared to its average volume of 555,709. Cullen/Frost Bankers, Inc. has a twelve month low of $119.00 and a twelve month high of $170.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $9.42 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. The firm has a 50-day simple moving average of $161.67 and a 200-day simple moving average of $151.17.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.15. The company had revenue of $576.01 million for the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same period last year, the firm earned $2.39 EPS. As a group, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 10.94 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. Cullen/Frost Bankers’s payout ratio is presently 38.94%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CFR. TD Cowen dropped their price objective on Cullen/Frost Bankers from $185.00 to $178.00 and set a “buy” rating for the company in a research report on Monday. Keefe, Bruyette & Woods lifted their price target on shares of Cullen/Frost Bankers from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Barclays boosted their price objective on shares of Cullen/Frost Bankers from $160.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday. Jefferies Financial Group upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and raised their target price for the stock from $135.00 to $160.00 in a research report on Monday, July 6th. Finally, Morgan Stanley boosted their price target on Cullen/Frost Bankers from $200.00 to $201.00 and gave the company an “overweight” rating in a report on Monday, September 28th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $170.18.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas, and the parent company of Frost Bank. Through Frost, the company provides banking, investment, and financial services to individuals, businesses, and institutions.

Frost Bank offers personal and business deposit accounts, consumer and commercial lending, treasury management, payment services, and other banking products. Its wealth management operations provide trust, investment management, and financial planning services, while the company also offers services related to insurance and investment banking.

Founded in 1868 by Thomas Claiborne Frost, the company has a long history of serving Texas markets.