Northwestern Mutual Wealth Management Co. Purchases 351,363 Shares of Cullen/Frost Bankers, Inc. $CFR

Northwestern Mutual Wealth Management Co. raised its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 16,676.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 353,470 shares of the bank’s stock after buying an additional 351,363 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cullen/Frost Bankers were worth $44,760,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CFR. Goldman Sachs Group Inc. increased its holdings in Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after buying an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Cullen/Frost Bankers by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock valued at $20,896,000 after buying an additional 15,063 shares during the period. Geneos Wealth Management Inc. increased its holdings in Cullen/Frost Bankers by 40.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after buying an additional 106 shares during the period. Invesco Ltd. boosted its stake in shares of Cullen/Frost Bankers by 12.2% in the 2nd quarter. Invesco Ltd. now owns 126,040 shares of the bank’s stock valued at $16,201,000 after purchasing an additional 13,718 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Cullen/Frost Bankers by 82.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the bank’s stock valued at $151,000 after purchasing an additional 532 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Stock Up 2.2%

NYSE:CFR opened at $137.66 on Tuesday. The firm’s 50 day simple moving average is $138.14 and its 200 day simple moving average is $134.59. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. Cullen/Frost Bankers, Inc. has a one year low of $119.00 and a one year high of $148.97. The company has a market cap of $8.65 billion, a PE ratio of 13.40, a P/E/G ratio of 3.43 and a beta of 0.58.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $587.29 million. During the same period last year, the company earned $2.30 EPS. On average, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.41 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, May 29th. This represents a $4.12 annualized dividend and a yield of 3.0%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. Cullen/Frost Bankers’s dividend payout ratio is 38.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Stephens upgraded shares of Cullen/Frost Bankers from an “equal weight” rating to an “overweight” rating and set a $164.00 price target for the company in a report on Tuesday, May 5th. Loop Capital set a $160.00 price target on Cullen/Frost Bankers in a research note on Monday, February 2nd. Cantor Fitzgerald increased their price target on Cullen/Frost Bankers from $141.00 to $152.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. Finally, TD Cowen upgraded Cullen/Frost Bankers to a “strong-buy” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $145.08.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.