Impax Asset Management Group plc Boosts Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Impax Asset Management Group plc raised its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 58.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 822,878 shares of the bank’s stock after purchasing an additional 304,491 shares during the quarter. Impax Asset Management Group plc owned 1.28% of Cullen/Frost Bankers worth $104,861,000 as of its most recent filing with the Securities and Exchange Commission.

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

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $124.20 on Thursday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.94 and a beta of 0.74. The stock has a fifty day moving average of $125.71 and a two-hundred day moving average of $127.67. 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 (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.29. The business had revenue of $589.31 million for the quarter, compared to analyst estimates 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 company earned $2.24 earnings per share. On average, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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

Analysts Set New Price Targets

CFR has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Cullen/Frost Bankers in a report on Tuesday. Citigroup increased their target price on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a report on Friday, October 31st. Evercore ISI lifted their price target on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Royal Bank Of Canada upped their price target on Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Finally, Morgan Stanley raised their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $136.75.

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.