Deprince Race & Zollo Inc. Acquires Shares of 372,063 Cullen/Frost Bankers, Inc. (NYSE:CFR)

Deprince Race & Zollo Inc. acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 372,063 shares of the bank's stock, valued at approximately $37,813,000. Deprince Race & Zollo Inc. owned approximately 0.58% of Cullen/Frost Bankers at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new position in Cullen/Frost Bankers during the fourth quarter worth $33,000. CWM LLC lifted its stake in shares of Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank's stock valued at $38,000 after buying an additional 106 shares in the last quarter. Whittier Trust Co. lifted 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 in the last quarter. Parallel Advisors LLC raised its holdings in shares of Cullen/Frost Bankers by 89.7% in the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank's stock valued at $50,000 after purchasing an additional 218 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers in the second quarter valued at about $54,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares of the company's stock, valued at approximately $2,243,796.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the firm's stock in a transaction on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the transaction, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company's stock.

Cullen/Frost Bankers Stock Performance

CFR traded up $0.78 during midday trading on Thursday, reaching $111.80. The company had a trading volume of 436,426 shares, compared to its average volume of 445,622. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 1 year low of $82.25 and a 1 year high of $123.17. The business has a 50-day moving average of $110.83 and a two-hundred day moving average of $106.97. The company has a market cap of $7.18 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.37 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. The business had revenue of $528.81 million during the quarter, compared to analysts' expectations of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same quarter last year, the business posted $2.47 EPS. As a group, equities research analysts predict that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.40%. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, August 30th. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 44.92%.

Wall Street Analysts Forecast Growth

CFR has been the subject of several analyst reports. Royal Bank of Canada increased their target price on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a "sector perform" rating in a report on Friday, July 26th. Evercore ISI cut their target price on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an "underperform" rating for the company in a research report on Tuesday, June 25th. DA Davidson increased their target price 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, July 26th. Jefferies Financial Group cut their target price on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a "hold" rating for the company in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, June 27th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $119.64.

Cullen/Frost Bankers Company Profile

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.