American Century Companies Inc. Has $5.02 Million Position in Cullen/Frost Bankers, Inc. $CFR

Key Points

• American Century Companies Inc. reduced its stake in Cullen/Frost Bankers by 43.8% in the first quarter, now owning approximately 0.06% of the company valued at $5,023,000.
• Multiple hedge funds have altered their positions in Cullen/Frost, with some, like UMB Bank n.a., increasing their stakes by as much as 59.6%.
• Cullen/Frost Bankers reported a quarterly EPS of $2.39, exceeding analyst estimates, alongside a quarterly dividend of $1.00 per share set to be paid out on September 15th.

American Century Companies Inc. trimmed its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 43.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,119 shares of the bank's stock after selling 31,247 shares during the quarter. American Century Companies Inc. owned approximately 0.06% of Cullen/Frost Bankers worth $5,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. LaSalle St. Investment Advisors LLC grew its stake in Cullen/Frost Bankers by 4.0% during the first quarter. LaSalle St. Investment Advisors LLC now owns 2,165 shares of the bank's stock worth $271,000 after buying an additional 84 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Cullen/Frost Bankers by 5.7% during the first quarter. HB Wealth Management LLC now owns 1,897 shares of the bank's stock worth $238,000 after purchasing an additional 102 shares during the last quarter. Xponance Inc. increased its stake in shares of Cullen/Frost Bankers by 1.6% in the first quarter. Xponance Inc. now owns 7,207 shares of the bank's stock valued at $902,000 after buying an additional 113 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of Cullen/Frost Bankers by 2.6% in the first quarter. Fulton Bank N.A. now owns 5,012 shares of the bank's stock valued at $628,000 after buying an additional 126 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Cullen/Frost Bankers by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock worth $65,000 after buying an additional 132 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Raymond James Financial lowered their price objective on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Barclays lowered their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Finally, Jefferies Financial Group began coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of "Reduce" and an average price target of $133.71.

Cullen/Frost Bankers Trading Down 1.5%

NYSE CFR traded down $1.98 during trading hours on Friday, hitting $128.86. The company's stock had a trading volume of 422,497 shares, compared to its average volume of 497,033. The stock has a fifty day moving average of $130.86 and a 200 day moving average of $126.68. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $147.64. The firm has a market capitalization of $8.29 billion, a P/E ratio of 13.87, a PEG ratio of 2.71 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The business had revenue of $567.83 million for the quarter, compared to analyst estimates of $552.04 million. During the same period in the prior year, the business posted $2.21 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 3.1%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 43.06%.

About Cullen/Frost Bankers

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.