3,023 Shares in Cullen/Frost Bankers, Inc. $CFR Purchased by Financial Gravity Companies Inc.

Financial Gravity Companies Inc. purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,023 shares of the bank’s stock, valued at approximately $389,000.

A number of other hedge funds also recently added to or reduced their stakes in CFR. Hantz Financial Services Inc. grew its stake in shares of 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 purchasing an additional 264 shares during the last quarter. eCIO Inc. acquired a new stake in shares of Cullen/Frost Bankers during the first quarter worth $36,000. Geneos Wealth Management Inc. lifted its holdings in shares of Cullen/Frost Bankers by 40.8% during the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after purchasing an additional 106 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Cullen/Frost Bankers in the 1st quarter valued at $57,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in Cullen/Frost Bankers in the 1st quarter valued at $58,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Down 0.2%

CFR stock opened at $122.90 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $125.47 and its 200 day moving average price is $127.75. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $147.64. The company has a market cap of $7.86 billion, a P/E ratio of 13.23, a P/E/G ratio of 2.94 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.29. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The company had revenue of $567.27 million during the quarter, compared to analysts’ expectations of $565.54 million. During the same period last year, the company posted $2.24 earnings per share. On average, research analysts expect 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. Investors of record on Friday, November 28th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $4.00 annualized dividend and a yield of 3.3%. Cullen/Frost Bankers’s payout ratio is currently 41.15%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank Of Canada raised their target price on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. Evercore ISI increased their price target on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Raymond James Financial reduced their price objective on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, August 4th. Cantor Fitzgerald began coverage on Cullen/Frost Bankers in a report on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 price objective on the stock. Finally, Morgan Stanley increased their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $136.75.

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.