Allianz Asset Management GmbH Has $1.52 Million Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Allianz Asset Management GmbH decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.2% during the 1st quarter, HoldingsChannel reports. The fund owned 12,142 shares of the bank’s stock after selling 149 shares during the quarter. Allianz Asset Management GmbH’s holdings in Cullen/Frost Bankers were worth $1,520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at about $30,000. UMB Bank n.a. lifted its stake in Cullen/Frost Bankers by 59.6% in the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock valued at $49,000 after purchasing an additional 146 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Cullen/Frost Bankers by 35.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank’s stock worth $62,000 after purchasing an additional 120 shares during the period. Parallel Advisors LLC grew its holdings in Cullen/Frost Bankers by 33.8% during the first quarter. Parallel Advisors LLC now owns 522 shares of the bank’s stock worth $65,000 after purchasing an additional 132 shares during the period. Finally, Reyes Financial Architecture Inc. grew its holdings in Cullen/Frost Bankers by 38.5% during the first quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank’s stock worth $159,000 after purchasing an additional 354 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Matthew Bradley Henson bought 1,870 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average cost of $16.93 per share, with a total value of $31,659.10. Following the completion of the purchase, the chief accounting officer directly owned 5,545 shares of the company’s stock, valued at $93,876.85. This trade represents a 50.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CFR has been the topic of several research analyst reports. Raymond James Financial upgraded Cullen/Frost Bankers from a “market perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Tuesday, July 8th. Barclays increased their price target on Cullen/Frost Bankers from $135.00 to $155.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Jefferies Financial Group initiated coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They set an “underperform” rating and a $105.00 price objective for the company. Stephens upped their price objective on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Finally, Evercore ISI raised shares of Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 price objective on the stock in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $134.79.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $134.39 on Thursday. The company has a market cap of $8.64 billion, a P/E ratio of 14.75, a PEG ratio of 2.86 and a beta of 0.68. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64. The business has a 50-day moving average price of $130.73 and a two-hundred day moving average price of $128.92. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.13. The firm had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. During the same period in the previous year, the company posted $2.15 EPS. As a group, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Friday, May 30th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 43.91%.

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.