Principal Financial Group Inc. raised its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 177.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,830,898 shares of the bank’s stock after buying an additional 1,171,078 shares during the period. Principal Financial Group Inc. owned approximately 2.85% of Cullen/Frost Bankers worth $171,940,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Cullen/Frost Bankers by 16.5% in the first quarter. Vanguard Group Inc. now owns 5,356,366 shares of the bank’s stock valued at $476,557,000 after buying an additional 758,710 shares during the last quarter. BlackRock Inc. increased its stake in shares of Cullen/Frost Bankers by 3,918.0% in the first quarter. BlackRock Inc. now owns 4,695,956 shares of the bank’s stock valued at $417,800,000 after buying an additional 4,579,082 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Cullen/Frost Bankers by 8.8% in the first quarter. Neuberger Berman Group LLC now owns 2,475,461 shares of the bank’s stock valued at $220,242,000 after buying an additional 200,811 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cullen/Frost Bankers by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 1,951,679 shares of the bank’s stock valued at $173,641,000 after buying an additional 12,321 shares in the last quarter. Finally, Aristotle Capital Management LLC increased its stake in shares of Cullen/Frost Bankers by 3.6% in the first quarter. Aristotle Capital Management LLC now owns 1,734,287 shares of the bank’s stock valued at $154,299,000 after buying an additional 60,197 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cullen/Frost Bankers, Inc. (NYSE CFR) opened at 84.20 on Friday. The company has a market cap of $5.41 billion, a PE ratio of 16.59 and a beta of 1.32. The company has a 50 day moving average of $90.18 and a 200 day moving average of $91.55. Cullen/Frost Bankers, Inc. has a 1-year low of $67.86 and a 1-year high of $99.20.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.29. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. The company had revenue of $295.87 million during the quarter, compared to the consensus estimate of $316.40 million. During the same quarter in the prior year, the firm posted $1.11 EPS. Equities analysts expect that Cullen/Frost Bankers, Inc. will post $5.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 44.79%.

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Several equities research analysts have recently issued reports on CFR shares. BidaskClub downgraded Cullen/Frost Bankers from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, July 14th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $100.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, July 28th. J P Morgan Chase & Co downgraded Cullen/Frost Bankers from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $100.00 to $88.00 in a research report on Monday, July 31st. Finally, Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research report on Friday, July 7th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $95.33.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.

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Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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