Mach 1 Financial Group LLC Buys New Position in Cullen/Frost Bankers, Inc. $CFR

Mach 1 Financial Group LLC purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,751 shares of the bank’s stock, valued at approximately $475,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after acquiring an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Cullen/Frost Bankers by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock worth $20,896,000 after purchasing an additional 15,063 shares during the period. Geneos Wealth Management Inc. boosted its stake in Cullen/Frost Bankers by 40.8% during the 1st 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. Invesco Ltd. grew its position in Cullen/Frost Bankers by 12.2% during the 2nd quarter. Invesco Ltd. now owns 126,040 shares of the bank’s stock worth $16,201,000 after purchasing an additional 13,718 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Cullen/Frost Bankers by 82.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank’s stock worth $151,000 after purchasing an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of CFR opened at $139.04 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average is $138.40 and its two-hundred day moving average is $134.94. Cullen/Frost Bankers, Inc. has a twelve month low of $119.00 and a twelve month high of $148.97. The firm has a market capitalization of $8.73 billion, a PE ratio of 13.54, a P/E/G ratio of 3.56 and a beta of 0.58.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, beating the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $587.29 million. During the same period last year, the firm earned $2.30 EPS. Research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.41 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, May 29th. Cullen/Frost Bankers’s dividend payout ratio is 38.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CFR shares. Keefe, Bruyette & Woods upped their target price on shares of Cullen/Frost Bankers from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, January 30th. TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. Weiss Ratings upgraded Cullen/Frost Bankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Stephens raised Cullen/Frost Bankers from an “equal weight” rating to an “overweight” rating and set a $164.00 price objective for the company in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada lifted their target price on Cullen/Frost Bankers from $150.00 to $155.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $148.73.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.