Choreo LLC Has $275,000 Stock Holdings 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 decreased its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 68.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

Several other institutional investors have also recently made changes to their positions in CFR. Alpine Bank Wealth Management purchased a new position in shares of Cullen/Frost Bankers during the 1st quarter valued at approximately $30,000. UMB Bank n.a. lifted its position in shares of Cullen/Frost Bankers by 59.6% in the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after acquiring an additional 146 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Cullen/Frost Bankers by 35.3% during the fourth 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. Parallel Advisors LLC raised its stake in Cullen/Frost Bankers by 33.8% in the 1st quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock valued at $65,000 after purchasing an additional 132 shares during the last quarter. Finally, Reyes Financial Architecture Inc. lifted its holdings in Cullen/Frost Bankers by 38.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank's stock valued at $159,000 after purchasing an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Trading Down 2.7%

Shares of Cullen/Frost Bankers stock traded down $3.42 on Friday, reaching $123.99. 973,939 shares of the company were exchanged, compared to its average volume of 436,524. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64. The stock has a fifty day moving average price of $130.89 and a 200-day moving average price of $128.90. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 2.84 and a beta of 0.68.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results 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 return on equity of 15.70% and a net margin of 20.89%. The company had revenue of $567.83 million for the quarter, compared to analyst estimates of $552.04 million. During the same period last year, the company earned $2.21 earnings per share. On average, analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Evercore ISI upgraded Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective on the stock in a report on Friday, May 2nd. Jefferies Financial Group assumed coverage on Cullen/Frost Bankers in a research report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price objective on the stock. Barclays decreased their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a report on Friday. Raymond James Financial raised Cullen/Frost Bankers from a "market perform" rating to an "outperform" rating and set a $150.00 price target on the stock in a research report on Tuesday, July 8th. Finally, Stephens lifted their price objective 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. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $134.07.

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.