Jackson Square Capital LLC Takes $427,000 Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Jackson Square Capital LLC acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 3rd quarter, Holdings Channel reports. The firm acquired 3,817 shares of the bank’s stock, valued at approximately $427,000.

Other large investors have also made changes to their positions in the company. Champlain Investment Partners LLC increased its holdings in shares of Cullen/Frost Bankers by 18.4% in the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after purchasing an additional 495,215 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after purchasing an additional 161,580 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of Cullen/Frost Bankers in the third quarter worth about $107,166,000. Dimensional Fund Advisors LP increased its holdings in shares of Cullen/Frost Bankers by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after purchasing an additional 120,333 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Cullen/Frost Bankers by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 648,922 shares of the bank’s stock worth $65,950,000 after purchasing an additional 2,420 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Up 12.6 %

Shares of CFR opened at $143.66 on Thursday. The firm has a market capitalization of $9.21 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.51 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 12-month low of $91.24 and a 12-month high of $144.19. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $116.84 and a 200-day moving average price of $109.48.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 earnings per share. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.65%. Cullen/Frost Bankers’s payout ratio is currently 47.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CFR shares. Compass Point lifted their target price on Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a report on Tuesday. Wedbush reduced their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Maxim Group boosted their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Evercore ISI reduced their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Stephens boosted their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. 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. Based on data from MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus price target of $123.86.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

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.