Cullen/Frost Bankers, Inc. $CFR Stock: Vest Financial LLC Reduces Stake

Key Points

• Vest Financial LLC cut its Cullen/Frost Bankers stake by 30.4% in the third quarter, selling 12,605 shares and retaining 28,882 shares valued at approximately $4.4 million. Institutional investors and hedge funds collectively own 86.9% of the stock.
• Cullen/Frost reported quarterly EPS of $2.70, exceeding analysts’ $2.55 estimate, while revenue of $576.01 million fell short of expectations. Analysts anticipate full-year EPS of $10.94.
• The bank maintains a quarterly dividend of $1.03 per share, equivalent to a 2.6% annual yield. CFR had a consensus “Hold” rating, with an average analyst price target of $169.36 versus a recent price of $157.09.

Vest Financial LLC reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 30.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,882 shares of the bank's stock after selling 12,605 shares during the period. Vest Financial LLC's holdings in Cullen/Frost Bankers were worth $4,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. GK Wealth Management LLC acquired a new stake in Cullen/Frost Bankers in the third quarter worth approximately $32,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Cullen/Frost Bankers during the second quarter valued at about $37,000. Global Retirement Partners LLC bought a new position in Cullen/Frost Bankers during the second quarter valued at about $38,000. Measured Wealth Private Client Group LLC acquired a new position in Cullen/Frost Bankers during the first quarter worth about $41,000. Finally, GHP Investment Advisors Inc. acquired a new position in Cullen/Frost Bankers during the first quarter worth about $53,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Down 0.4%

CFR stock opened at $157.09 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $9.76 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.83 and a beta of 0.56. Cullen/Frost Bankers, Inc. has a 52-week low of $119.14 and a 52-week high of $170.80. The company's 50 day simple moving average is $158.57 and its 200-day simple moving average is $152.57.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.15. The firm had revenue of $576.01 million during the quarter, compared to analyst estimates of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same quarter last year, the business posted $2.39 EPS. As a group, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.94 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 31st. Cullen/Frost Bankers's dividend payout ratio is currently 38.94%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CFR shares. Weiss Ratings reissued a "buy (b)" rating on shares of Cullen/Frost Bankers in a report on Tuesday, October 13th. Raymond James Financial restated a "market perform" rating on shares of Cullen/Frost Bankers in a research report on Wednesday, July 1st. Jefferies Financial Group raised shares of Cullen/Frost Bankers from an "underperform" rating to a "hold" rating and lifted their price objective for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. Stephens boosted their target price on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Finally, TD Cowen dropped their target price on shares of Cullen/Frost Bankers from $185.00 to $178.00 and set a "buy" rating on the stock in a report on Monday, October 5th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $169.36.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.

Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.

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