Cullen/Frost Bankers, Inc. $CFR Shares Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc increased its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 58.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 822,878 shares of the bank’s stock after purchasing an additional 304,491 shares during the period. Impax Asset Management Group plc’s holdings in Cullen/Frost Bankers were worth $104,861,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CFR. Hantz Financial Services Inc. grew its holdings in Cullen/Frost Bankers by 8,800.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 267 shares of the bank’s stock valued at $34,000 after buying an additional 264 shares during the period. eCIO Inc. acquired a new stake in shares of Cullen/Frost Bankers in the first quarter worth approximately $36,000. Geneos Wealth Management Inc. grew its holdings in Cullen/Frost Bankers by 40.8% in the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after purchasing an additional 106 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Cullen/Frost Bankers during the first quarter worth approximately $57,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in Cullen/Frost Bankers during the first quarter worth approximately $58,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CFR shares. Citigroup boosted their price objective on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a research note on Friday, October 31st. Raymond James Financial cut their price objective on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cullen/Frost Bankers in a research note on Tuesday. Morgan Stanley increased their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Finally, TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $136.75.

Cullen/Frost Bankers Price Performance

CFR stock opened at $124.20 on Thursday. The firm has a market cap of $7.94 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 2.94 and a beta of 0.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a 1 year low of $100.31 and a 1 year high of $147.64. The stock has a 50-day simple moving average of $125.71 and a 200-day simple moving average of $127.67.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.29. The company had revenue of $589.31 million during the quarter, compared to the consensus estimate of $565.54 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same quarter last year, the company earned $2.24 earnings per share. On average, equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $1.00 dividend. The ex-dividend date is Friday, November 28th. This represents a $4.00 dividend on an annualized basis and a yield of 3.2%. Cullen/Frost Bankers’s payout ratio is currently 41.15%.

Cullen/Frost Bankers Profile

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.