Point72 Asset Management L.P. Makes New Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Point72 Asset Management L.P. acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 133,559 shares of the bank's stock, valued at approximately $13,574,000. Point72 Asset Management L.P. owned 0.21% of Cullen/Frost Bankers as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Cullen/Frost Bankers by 2.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank's stock valued at $600,000 after purchasing an additional 156 shares during the period. Creative Planning raised its holdings in Cullen/Frost Bankers by 7.4% during the 2nd quarter. Creative Planning now owns 8,449 shares of the bank's stock valued at $859,000 after acquiring an additional 585 shares during the period. Algert Global LLC raised its holdings in Cullen/Frost Bankers by 19.7% during the 2nd quarter. Algert Global LLC now owns 37,301 shares of the bank's stock valued at $3,791,000 after acquiring an additional 6,143 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Cullen/Frost Bankers during the second quarter worth $2,732,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Cullen/Frost Bankers in the second quarter worth $207,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Trading Down 3.5 %

Cullen/Frost Bankers stock traded down $3.88 during trading hours on Tuesday, reaching $107.98. The stock had a trading volume of 321,388 shares, compared to its average volume of 443,225. The stock has a market cap of $6.94 billion, a PE ratio of 12.89, a PEG ratio of 1.36 and a beta of 1.00. The company has a fifty day simple moving average of $110.73 and a 200-day simple moving average of $107.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a 52 week low of $82.25 and a 52 week high of $123.17.

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

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.95 per share. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Friday, August 30th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 44.92%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of brokerages recently issued reports on CFR. Stephens increased their price objective on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an "equal weight" rating in a report on Friday, July 26th. Wedbush lowered their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. Evercore ISI reduced their price objective on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an "underperform" rating for the company in a research note on Tuesday, June 25th. Morgan Stanley lowered their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, June 27th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $120.07.

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.