AQR Capital Management LLC Decreases Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

AQR Capital Management LLC lowered its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 32.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,176 shares of the bank's stock after selling 71,754 shares during the period. AQR Capital Management LLC owned 0.24% of Cullen/Frost Bankers worth $20,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CFR. Lido Advisors LLC boosted its stake in Cullen/Frost Bankers by 9.1% in the fourth quarter. Lido Advisors LLC now owns 136,153 shares of the bank's stock valued at $18,279,000 after acquiring an additional 11,341 shares in the last quarter. Northern Trust Corp grew its stake in Cullen/Frost Bankers by 33.7% during the 4th quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock worth $130,703,000 after buying an additional 245,458 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Cullen/Frost Bankers by 4.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 595,683 shares of the bank's stock valued at $79,970,000 after buying an additional 26,953 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in Cullen/Frost Bankers by 6.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,018 shares of the bank's stock valued at $942,000 after buying an additional 409 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new stake in Cullen/Frost Bankers in the fourth quarter worth about $230,000. Institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR traded down $0.20 during midday trading on Friday, hitting $124.80. The stock had a trading volume of 223,723 shares, compared to its average volume of 465,989. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64. The company has a market capitalization of $8.02 billion, a PE ratio of 14.07, a P/E/G ratio of 6.46 and a beta of 0.67. The stock has a 50 day simple moving average of $118.71 and a 200-day simple moving average of $131.07.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.17 by $0.13. The business had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. During the same quarter in the prior year, the firm earned $2.15 earnings per share. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $4.00 dividend on an annualized basis and a yield of 3.21%. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. Cullen/Frost Bankers's payout ratio is 43.91%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Stephens boosted their target price on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Barclays upped their target price on Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. DA Davidson cut Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $138.00 to $143.00 in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reduced their price objective on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Hold" and an average target price of $132.14.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson acquired 1,870 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of $16.93 per share, with a total value of $31,659.10. Following the transaction, the chief accounting officer now owns 5,545 shares of the company's stock, valued at $93,876.85. This trade represents a 50.88 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.89% of the company's stock.

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.