Bank of America Corp DE Reduces Position in Cullen/Frost Bankers, Inc. $CFR

Bank of America Corp DE reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 20.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 962,310 shares of the bank's stock after selling 248,412 shares during the quarter. Bank of America Corp DE owned about 1.55% of Cullen/Frost Bankers worth $148,696,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CFR. Man Group plc acquired a new stake in shares of Cullen/Frost Bankers during the 2nd quarter worth about $313,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Cullen/Frost Bankers during the second quarter worth about $1,107,000. Jupiter Topco LLC acquired a new position in shares of Cullen/Frost Bankers in the second quarter valued at approximately $94,297,000. Hsbc Holdings PLC acquired a new position in shares of Cullen/Frost Bankers in the second quarter valued at approximately $7,345,000. Finally, EFG International AG purchased a new position in shares of Cullen/Frost Bankers during the second quarter valued at approximately $5,906,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

CFR has been the topic of a number of recent analyst reports. Raymond James Financial reissued a "market perform" rating on shares of Cullen/Frost Bankers in a research note on Wednesday, July 1st. Citigroup upped their target price on Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a "sell" rating in a research note on Tuesday, June 30th. TD Cowen increased their target price on Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Stephens increased their target price on Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $166.67.

Cullen/Frost Bankers Trading Up 0.0%

CFR stock opened at $159.49 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 2.43 and a beta of 0.52. The business has a fifty day simple moving average of $163.55 and a 200-day simple moving average of $149.14. Cullen/Frost Bankers, Inc. has a 52 week low of $119.00 and a 52 week high of $170.80.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.15. The firm had revenue of $576.01 million during the quarter, compared to the consensus estimate of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same quarter in the previous year, the business earned $2.39 earnings per share. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 10.94 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a $1.03 dividend. The ex-dividend date was Monday, August 31st. This represents a $4.12 annualized dividend and a yield of 2.6%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 38.94%.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers commercial and consumer banking products, including deposit accounts, loans, treasury management, payment services, mortgage lending and online and mobile banking. Through its wealth management operations, the company also provides trust, investment management, brokerage and retirement services.

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