US Bancorp DE raised its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 6.7% in the 2nd quarter, Holdings Channel reports. The fund owned 3,779 shares of the bank’s stock after acquiring an additional 238 shares during the period. US Bancorp DE’s holdings in Cullen/Frost Bankers were worth $423,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its stake in shares of Cullen/Frost Bankers by 17.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,831 shares of the bank’s stock worth $877,000 after acquiring an additional 1,169 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Cullen/Frost Bankers by 13.4% in the second quarter. Envestnet Asset Management Inc. now owns 57,592 shares of the bank’s stock valued at $6,450,000 after purchasing an additional 6,807 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Cullen/Frost Bankers by 168.8% in the second quarter. Russell Investments Group Ltd. now owns 40,622 shares of the bank’s stock valued at $4,548,000 after purchasing an additional 25,511 shares during the period. Boston Financial Mangement LLC acquired a new stake in shares of Cullen/Frost Bankers in the second quarter valued at about $204,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Cullen/Frost Bankers by 3.0% in the second quarter. New York State Common Retirement Fund now owns 108,796 shares of the bank’s stock valued at $12,185,000 after purchasing an additional 3,175 shares during the period. Institutional investors own 81.30% of the company’s stock.
NYSE:CFR opened at $110.94 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $110.81 and a two-hundred day moving average price of $113.69. Cullen/Frost Bankers, Inc. has a twelve month low of $61.50 and a twelve month high of $125.00. The company has a market capitalization of $7.05 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 1.80 and a beta of 1.47.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st will be issued a dividend of $0.75 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.72. This represents a $3.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, August 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 80.43%.
Separately, Maxim Group reiterated a “buy” rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, July 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $112.43.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services, as well as trust and investment management, mutual funds, investment banking, insurance, brokerage, leasing, asset-based lending, treasury management and item processing services.
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