Cullen/Frost Bankers, Inc. $CFR Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its holdings in Cullen/Frost Bankers by 41.7% during the first quarter, now owning about 0.12% of the company.
• The bank reported earnings per share of $2.39 for the last quarter, exceeding analysts' expectations of $2.28.
• Cullen/Frost Bankers declared a quarterly dividend of $1.00 per share, representing an annualized yield of 3.2%.

Russell Investments Group Ltd. cut its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 41.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,520 shares of the bank's stock after selling 56,132 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Cullen/Frost Bankers worth $9,831,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CFR. LaSalle St. Investment Advisors LLC grew its position in Cullen/Frost Bankers by 4.0% during the first quarter. LaSalle St. Investment Advisors LLC now owns 2,165 shares of the bank's stock worth $271,000 after buying an additional 84 shares during the period. HB Wealth Management LLC grew its position in Cullen/Frost Bankers by 5.7% during the first quarter. HB Wealth Management LLC now owns 1,897 shares of the bank's stock worth $238,000 after buying an additional 102 shares during the period. Xponance Inc. grew its position in Cullen/Frost Bankers by 1.6% during the first quarter. Xponance Inc. now owns 7,207 shares of the bank's stock worth $902,000 after buying an additional 113 shares during the period. Commerce Bank grew its position in Cullen/Frost Bankers by 0.9% during the fourth quarter. Commerce Bank now owns 12,536 shares of the bank's stock worth $1,683,000 after buying an additional 116 shares during the period. Finally, Fulton Bank N.A. grew its position in Cullen/Frost Bankers by 2.6% during the first quarter. Fulton Bank N.A. now owns 5,012 shares of the bank's stock worth $628,000 after buying an additional 126 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on CFR shares. Barclays lowered 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 report on Friday, August 1st. Raymond James Financial lowered their price target 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. Royal Bank Of Canada lowered their price target on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price target on the stock. Finally, Evercore ISI upgraded shares of 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 report on Friday, May 2nd. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $133.71.

Cullen/Frost Bankers Trading Up 3.7%

Shares of CFR stock traded up $4.6120 during mid-day trading on Friday, reaching $130.8420. The company's stock had a trading volume of 544,589 shares, compared to its average volume of 441,786. The company's 50 day simple moving average is $129.98 and its 200-day simple moving average is $127.29. Cullen/Frost Bankers, Inc. has a 12-month low of $100.31 and a 12-month high of $147.64. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $8.42 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.67 and a beta of 0.70.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, beating 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 the consensus estimate of $552.04 million. During the same quarter last year, the firm posted $2.21 EPS. On average, research analysts predict 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. Investors of record on Friday, August 29th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 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.