Ameriprise Financial Inc. Has $13.33 Million Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Ameriprise Financial Inc. lessened its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,276 shares of the bank's stock after selling 7,603 shares during the quarter. Ameriprise Financial Inc. owned about 0.15% of Cullen/Frost Bankers worth $13,328,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CFR. HighTower Advisors LLC boosted its holdings in Cullen/Frost Bankers by 8.3% during the fourth quarter. HighTower Advisors LLC now owns 13,083 shares of the bank's stock worth $1,756,000 after buying an additional 1,003 shares in the last quarter. Barclays PLC lifted its position in Cullen/Frost Bankers by 234.5% in the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank's stock worth $48,814,000 after buying an additional 305,921 shares in the last quarter. Entropy Technologies LP purchased a new stake in Cullen/Frost Bankers in the 4th quarter worth approximately $389,000. Franklin Resources Inc. lifted its position in Cullen/Frost Bankers by 167.8% in the 3rd quarter. Franklin Resources Inc. now owns 7,507 shares of the bank's stock worth $901,000 after buying an additional 4,704 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Cullen/Frost Bankers in the 4th quarter worth approximately $300,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Performance

CFR traded down $0.49 during trading on Friday, hitting $126.60. The stock had a trading volume of 275,735 shares, compared to its average volume of 465,011. The firm has a market cap of $8.14 billion, a PE ratio of 14.27, a P/E/G ratio of 6.46 and a beta of 0.67. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06. The company has a 50 day simple moving average of $119.67 and a 200-day simple moving average of $131.15.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, topping the consensus estimate of $2.17 by $0.13. The firm had revenue of $560.42 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $2.15 EPS. Analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.16%. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Friday, May 30th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.91%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CFR. Stephens raised their price target on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Barclays raised their price target on shares of Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. DA Davidson downgraded shares of Cullen/Frost Bankers from a "buy" rating to a "neutral" rating and raised their price target for the company from $138.00 to $143.00 in a report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on shares of 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, Morgan Stanley cut their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $131.93.

Insiders Place Their Bets

In related news, CAO Matthew Bradley Henson purchased 1,870 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were bought at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the transaction, the chief accounting officer now directly owns 5,545 shares of the company's stock, valued at approximately $93,876.85. This trade represents a 50.88% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company 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.