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

Key Points

• Choreo LLC reduced its stake in Cullen/Frost Bankers by 68.8%, owning 2,195 shares worth $275,000 as of its latest filing.
• Several hedge funds increased their positions in Cullen/Frost Bankers, with GAMMA Investing LLC making a massive boost of 122,282.2% in the first quarter.
• Cullen/Frost Bankers reported a quarterly earnings per share of $2.30, which beat analysts' expectations and announced an increase in its quarterly dividend to $1.00.

Choreo LLC lowered its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 68.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,195 shares of the bank's stock after selling 4,831 shares during the quarter. Choreo LLC's holdings in Cullen/Frost Bankers were worth $275,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in Cullen/Frost Bankers by 4.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,086 shares of the bank's stock worth $280,000 after buying an additional 86 shares during the period. Xponance Inc. boosted its position in Cullen/Frost Bankers by 1.6% in the 1st quarter. Xponance Inc. now owns 7,207 shares of the bank's stock worth $902,000 after purchasing an additional 113 shares in the last quarter. Commerce Bank boosted its position in Cullen/Frost Bankers by 0.9% in the 4th quarter. Commerce Bank now owns 12,536 shares of the bank's stock worth $1,683,000 after purchasing an additional 116 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Cullen/Frost Bankers by 35.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank's stock worth $62,000 after purchasing an additional 120 shares in the last quarter. Finally, Fulton Bank N.A. boosted its position in Cullen/Frost Bankers by 2.6% in the 1st quarter. Fulton Bank N.A. now owns 5,012 shares of the bank's stock worth $628,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CFR shares. Jefferies Financial Group started coverage on Cullen/Frost Bankers in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price objective on the stock. Raymond James Financial upgraded Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a research report on Tuesday, July 8th. Barclays cut their price objective on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Friday. Royal Bank Of Canada lowered their price target on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Finally, Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target on the stock in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $134.07.

Cullen/Frost Bankers Trading Down 2.7%

Shares of CFR traded down $3.42 during midday trading on Friday, hitting $123.99. 973,939 shares of the stock were exchanged, compared to its average volume of 349,504. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $147.64. The stock has a fifty day simple moving average of $130.84 and a 200 day simple moving average of $128.80. The firm has a market cap of $7.97 billion, a P/E ratio of 13.35, a P/E/G ratio of 2.70 and a beta of 0.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, topping the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a return on equity of 15.61% and a net margin of 26.82%. The business had revenue of $567.83 million during the quarter, compared to analyst estimates of $552.04 million. During the same period last year, the business posted $2.21 earnings per share. On average, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.91%.

Cullen/Frost Bankers 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.