Eagle Bay Advisors LLC Increases Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Eagle Bay Advisors LLC grew its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1,625.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 742 shares of the bank’s stock after acquiring an additional 699 shares during the period. Eagle Bay Advisors LLC’s holdings in Cullen/Frost Bankers were worth $75,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in CFR. ICA Group Wealth Management LLC acquired a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at $33,000. CWM LLC lifted its position in shares of Cullen/Frost Bankers by 46.5% during the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Cullen/Frost Bankers in the fourth quarter valued at approximately $43,000. Whittier Trust Co. boosted its stake in shares of Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after purchasing an additional 186 shares during the period. Finally, Parallel Advisors LLC increased its stake in Cullen/Frost Bankers by 89.7% during the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock worth $50,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Performance

CFR traded up $1.05 on Wednesday, reaching $111.77. The company had a trading volume of 85,804 shares, compared to its average volume of 443,518. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 1 year low of $82.25 and a 1 year high of $123.17. The stock has a market capitalization of $7.16 billion, a PE ratio of 13.09, a P/E/G ratio of 1.36 and a beta of 1.03. The stock has a 50-day moving average price of $106.83 and a 200-day moving average price of $106.57.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. The business had revenue of $528.81 million during the quarter, compared to the consensus estimate of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same period in the previous year, the business earned $2.47 EPS. As a group, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company 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 $0.95 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio is presently 43.50%.

Analyst Upgrades and Downgrades

Several research firms have commented on CFR. Maxim Group boosted their price target on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lowered their price objective on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Wedbush raised their target price on shares of Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, DA Davidson lifted their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $119.93.

About Cullen/Frost Bankers

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.