LRI Investments LLC Invests $146,000 in Cullen/Frost Bankers, Inc. (NYSE:CFR)

LRI Investments LLC bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,360 shares of the bank’s stock, valued at approximately $146,000.

Several other hedge funds have also added to or reduced their stakes in CFR. ICA Group Wealth Management LLC acquired a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth $33,000. Arvest Investments Inc. acquired a new position in shares of Cullen/Frost Bankers during the 4th quarter worth approximately $35,000. CWM LLC increased its holdings in shares of Cullen/Frost Bankers by 46.5% during the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at approximately $43,000. Finally, Whittier Trust Co. boosted its stake in shares of Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after buying an additional 186 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CFR shares. Royal Bank of Canada lifted their price objective on Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday. Truist Financial cut their price objective on shares of Cullen/Frost Bankers from $115.00 to $102.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Maxim Group raised their target price on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded shares of Cullen/Frost Bankers to a “sell” rating in a research report on Saturday, May 4th. Finally, DA Davidson increased their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $117.79.

Cullen/Frost Bankers Price Performance

CFR traded up $2.03 on Friday, reaching $119.74. The stock had a trading volume of 596,326 shares, compared to its average volume of 659,032. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. Cullen/Frost Bankers, Inc. has a fifty-two week low of $82.25 and a fifty-two week high of $123.17. The firm has a 50-day moving average of $102.68 and a 200-day moving average of $105.89.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 24.88% and a return on equity of 17.72%. During the same period last year, the firm posted $2.47 earnings per share. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.46 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, August 30th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s payout ratio is 44.92%.

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.