Raymond James Financial Inc. Makes New $21.18 Million Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Raymond James Financial Inc. bought a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 157,774 shares of the bank’s stock, valued at approximately $21,181,000.

Other large investors have also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after acquiring an additional 141 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Cullen/Frost Bankers by 45.8% in the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cullen/Frost Bankers in the third quarter valued at approximately $29,000. Blue Trust Inc. increased its stake in shares of Cullen/Frost Bankers by 239.0% in the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after purchasing an additional 239 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Cullen/Frost Bankers in the third quarter valued at approximately $44,000. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul Bracher sold 11,500 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the transaction, the insider now owns 102,946 shares of the company’s stock, valued at approximately $14,355,819.70. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Trading Up 2.3 %

Cullen/Frost Bankers stock opened at $122.64 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 6.46 and a beta of 0.97. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64. The firm’s 50 day moving average price is $137.03 and its two-hundred day moving average price is $130.17.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. On average, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.95 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $3.80 annualized dividend and a yield of 3.10%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 42.84%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CFR. DA Davidson lowered shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and raised their price target for the company from $138.00 to $143.00 in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Morgan Stanley dropped their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating on the stock in a research note on Thursday. Compass Point raised their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $144.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $132.77.

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.