Financial Gravity Companies Inc. Makes New $389,000 Investment in Cullen/Frost Bankers, Inc. $CFR

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

Other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. raised its stake in shares of Cullen/Frost Bankers by 8,800.0% in the second quarter. Hantz Financial Services Inc. now owns 267 shares of the bank’s stock valued at $34,000 after acquiring an additional 264 shares in the last quarter. eCIO Inc. acquired a new position in Cullen/Frost Bankers during the 1st quarter worth $36,000. Geneos Wealth Management Inc. increased its holdings 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. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Cullen/Frost Bankers in the 1st quarter valued at about $57,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in Cullen/Frost Bankers in the 1st quarter valued at about $58,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CFR. Raymond James Financial lowered their price objective on 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. Royal Bank Of Canada lifted their price target 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. TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of Cullen/Frost Bankers in a report on Tuesday. Finally, Evercore ISI lifted their price objective on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $136.75.

Cullen/Frost Bankers Stock Down 0.2%

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

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.29. The firm had revenue of $567.27 million for the quarter, compared to the consensus estimate of $565.54 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.During the same quarter last year, the business posted $2.24 EPS. Analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, November 28th. Cullen/Frost Bankers’s payout ratio is presently 41.15%.

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.