Jacobs Levy Equity Management Inc. Has $44.25 Million Stock Position in 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. reduced its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 11.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Boston Trust Walden Corp boosted its stake in shares of Cullen/Frost Bankers by 5.7% during the 1st quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank's stock worth $139,282,000 after acquiring an additional 60,187 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 purchasing an additional 30,709 shares during the period. Northern Trust Corp boosted its stake 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 purchasing an additional 77,592 shares during the period. GAMMA Investing LLC boosted its stake in 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 during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in 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 during the period. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Price Performance

NYSE CFR traded up $1.16 during midday trading on Thursday, hitting $127.20. The company had a trading volume of 150,375 shares, compared to its average volume of 439,025. The company has a market capitalization of $8.18 billion, a PE ratio of 13.69, a P/E/G ratio of 2.70 and a beta of 0.74. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $130.77 and a 200-day moving average price of $126.10. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.11. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.The company had revenue of $567.83 million during the quarter, compared to analysts' expectations of $552.04 million. During the same quarter in the previous year, the firm earned $2.21 EPS. As a group, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.1%. Cullen/Frost Bankers's payout ratio is 43.06%.

Analyst Ratings Changes

CFR has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on Cullen/Frost Bankers in a research note on Wednesday. They issued a "neutral" rating and a $138.00 price target for the company. Barclays reduced their price target on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Raymond James Financial reduced their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. Finally, Jefferies Financial Group began coverage on Cullen/Frost Bankers in a report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $134.00.

About Cullen/Frost Bankers

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.