Cullen/Frost Bankers, Inc. $CFR Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp reduced its stake in Cullen/Frost Bankers by 1.1%, leaving them with approximately 1,100,356 shares, which constitute about 1.0% of their total portfolio.
• Recent research from Morgan Stanley raised the target price for Cullen/Frost Bankers to $136, while Barclays adjusted their price objective downward to $145.
• Cullen/Frost declared a quarterly dividend of $1.00 per share, translating to a 3.2% yield, with a payout ratio of 43.06%.

Boston Trust Walden Corp cut its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 1.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,100,356 shares of the bank's stock after selling 12,121 shares during the period. Cullen/Frost Bankers makes up about 1.0% of Boston Trust Walden Corp's portfolio, making the stock its 15th largest holding. Boston Trust Walden Corp owned 1.71% of Cullen/Frost Bankers worth $141,440,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. grew its position in shares of Cullen/Frost Bankers by 94.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,653 shares of the bank's stock valued at $855,000 after acquiring an additional 3,227 shares during the period. Vest Financial LLC grew its position in shares of Cullen/Frost Bankers by 22.5% during the 2nd quarter. Vest Financial LLC now owns 33,177 shares of the bank's stock valued at $4,265,000 after acquiring an additional 6,084 shares during the period. M.E. Allison & CO. Inc. grew its position in shares of Cullen/Frost Bankers by 35.1% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 8,734 shares of the bank's stock valued at $1,123,000 after acquiring an additional 2,270 shares during the period. CWM LLC grew its position in shares of Cullen/Frost Bankers by 4.1% during the 2nd quarter. CWM LLC now owns 4,928 shares of the bank's stock valued at $633,000 after acquiring an additional 192 shares during the period. Finally, Lawson Kroeker Investment Management Inc. NE grew its position in shares of Cullen/Frost Bankers by 0.8% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 53,970 shares of the bank's stock valued at $6,937,000 after acquiring an additional 440 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CFR. Morgan Stanley raised their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an "underweight" rating in a research report on Monday, September 29th. Barclays lowered their price objective on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cullen/Frost Bankers in a report on Wednesday, October 8th. Cantor Fitzgerald started coverage on Cullen/Frost Bankers in a report on Wednesday, September 10th. They issued a "neutral" rating and a $138.00 price objective on the stock. Finally, Evercore ISI lifted their price objective on Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an "in-line" rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Cullen/Frost Bankers presently has an average rating of "Hold" and a consensus price target of $137.62.

Cullen/Frost Bankers Trading Up 2.1%

CFR opened at $125.36 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. The company's 50 day simple moving average is $127.00 and its two-hundred day simple moving average is $125.92. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the company posted $2.21 EPS. Analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were 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 of this dividend was Friday, August 29th. Cullen/Frost Bankers's payout ratio is presently 43.06%.

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.

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