Jacobs Levy Equity Management Inc. Sells 46,498 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Cullen/Frost Bankers by 11.6%, now holding 353,455 shares valued at approximately $44.25 million.
• Cullen/Frost Bankers reported earnings of $2.39 per share for the quarter, surpassing analysts' estimates of $2.28 and showcasing a revenue of $567.83 million.
• The company declared a quarterly dividend of $1.00, with an annualized yield of 3.1%, and a payout ratio of 43.06%.

Jacobs Levy Equity Management Inc. lowered its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 11.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 353,455 shares of the bank's stock after selling 46,498 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.55% of Cullen/Frost Bankers worth $44,253,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CFR. Boston Trust Walden Corp raised its position in shares of Cullen/Frost Bankers by 5.7% in the first quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank's stock valued at $139,282,000 after purchasing an additional 60,187 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cullen/Frost Bankers by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,057,294 shares of the bank's stock valued at $132,365,000 after buying an additional 30,709 shares during the period. Northern Trust Corp increased its holdings in Cullen/Frost Bankers by 8.0% in the 1st quarter. Northern Trust Corp now owns 1,051,168 shares of the bank's stock valued at $131,606,000 after buying an additional 77,592 shares during the period. GAMMA Investing LLC boosted its stake in shares of Cullen/Frost Bankers by 122,282.2% in the 1st quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock valued at $125,949,000 after purchasing an additional 1,005,160 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Cullen/Frost Bankers by 19.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 711,527 shares of the bank's stock valued at $89,083,000 after purchasing an additional 114,910 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CFR shares. Barclays reduced their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 target price on the stock. Finally, Raymond James Financial cut their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $133.71.

Cullen/Frost Bankers Trading Up 1.1%

Cullen/Frost Bankers stock traded up $1.47 during mid-day trading on Monday, hitting $129.61. 406,658 shares of the stock were exchanged, compared to its average volume of 443,523. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $147.64. The firm's fifty day simple moving average is $131.02 and its two-hundred day simple moving average is $126.09. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 2.69 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $567.83 million during the quarter, compared to analyst estimates of $552.04 million. During the same quarter last year, the business earned $2.21 EPS. Analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 3.1%. Cullen/Frost Bankers's payout ratio is currently 43.06%.

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.