Raymond James Financial Inc. Buys New Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Raymond James Financial Inc. bought a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 157,774 shares of the bank's stock, valued at approximately $21,181,000. Raymond James Financial Inc. owned 0.25% of Cullen/Frost Bankers at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank's stock worth $25,000 after acquiring an additional 141 shares in the last quarter. UMB Bank n.a. increased its holdings in Cullen/Frost Bankers by 45.8% in the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank's stock worth $33,000 after acquiring an additional 77 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Cullen/Frost Bankers in the 3rd quarter worth $29,000. Blue Trust Inc. grew its holdings in shares of Cullen/Frost Bankers by 239.0% during the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank's stock worth $46,000 after buying an additional 239 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Cullen/Frost Bankers during the third quarter worth $44,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. DA Davidson lowered shares of Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and upped their target price for the stock from $138.00 to $143.00 in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $144.00 target price on shares of Cullen/Frost Bankers in a report on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Evercore ISI upped their target price on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an "underperform" rating in a report on Monday, February 10th. Finally, Compass Point upped their target price on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $132.77.

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Insider Activity at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 11,500 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the sale, the insider now owns 102,946 shares of the company's stock, valued at $14,355,819.70. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Stock Down 1.1 %

Shares of CFR traded down $1.34 during mid-day trading on Thursday, hitting $122.68. 381,455 shares of the company's stock were exchanged, compared to its average volume of 427,203. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 6.46 and a beta of 0.97. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68. The stock's 50-day moving average is $136.34 and its 200-day moving average is $130.29.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. On average, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.95 per share. The ex-dividend date was Friday, February 28th. This represents a $3.80 annualized dividend and a dividend yield of 3.10%. Cullen/Frost Bankers's dividend payout ratio is presently 42.84%.

Cullen/Frost Bankers 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.