VELA Investment Management LLC Has $1.05 Million Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

VELA Investment Management LLC cut its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 50.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,373 shares of the bank's stock after selling 8,638 shares during the period. VELA Investment Management LLC's holdings in Cullen/Frost Bankers were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Impax Asset Management Group plc lifted its position in Cullen/Frost Bankers by 350.8% during the 1st quarter. Impax Asset Management Group plc now owns 518,387 shares of the bank's stock valued at $64,359,000 after purchasing an additional 403,387 shares during the period. Teacher Retirement System of Texas raised its position in shares of Cullen/Frost Bankers by 9.4% in the 1st quarter. Teacher Retirement System of Texas now owns 14,432 shares of the bank's stock valued at $1,807,000 after acquiring an additional 1,236 shares during the period. Avidian Wealth Enterprises LLC raised its position in shares of Cullen/Frost Bankers by 41.7% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 3,425 shares of the bank's stock valued at $429,000 after acquiring an additional 1,008 shares during the period. Sovran Advisors LLC raised its position in shares of Cullen/Frost Bankers by 66.8% in the 1st quarter. Sovran Advisors LLC now owns 7,007 shares of the bank's stock valued at $877,000 after acquiring an additional 2,807 shares during the period. Finally, Bartlett & CO. Wealth Management LLC raised its position in shares of Cullen/Frost Bankers by 1.4% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 371,748 shares of the bank's stock valued at $46,543,000 after acquiring an additional 5,157 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Up 1.0%

CFR stock traded up $1.30 during mid-day trading on Tuesday, hitting $136.50. 462,556 shares of the company were exchanged, compared to its average volume of 456,438. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $8.78 billion, a P/E ratio of 14.98, a P/E/G ratio of 5.13 and a beta of 0.68. The firm's 50 day simple moving average is $127.70 and its 200 day simple moving average is $128.74. Cullen/Frost Bankers, Inc. has a 1-year low of $97.01 and a 1-year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.13. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. The company had revenue of $560.42 million during the quarter, compared to analysts' expectations of $540.57 million. During the same period last year, the business earned $2.15 EPS. On average, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $1.00 dividend. The ex-dividend date was Friday, May 30th. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.93%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 43.91%.

Insider Activity

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson acquired 1,870 shares of the stock in a transaction dated Friday, May 2nd. The shares were bought at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the acquisition, the chief accounting officer directly owned 5,545 shares of the company's stock, valued at approximately $93,876.85. This trade represents a 50.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CFR. Stephens increased their price target on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Morgan Stanley cut their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating on the stock in a research report on Thursday, March 13th. Royal Bank Of Canada cut 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. 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. Finally, Jefferies Financial Group began 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. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $134.79.

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.