Westwood Holdings Group Inc. Sells 14,420 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Key Points

• Westwood Holdings Group Inc. has reduced its holdings in Cullen/Frost Bankers, Inc. by 3.2%, selling 14,420 shares, which left them with a total of 432,947 shares valued at approximately $54.21 million.
• Several hedge funds have increased their stakes in Cullen/Frost Bankers, with GAMMA Investing LLC making a substantial addition of over 1,005,000 shares, raising their position by 122,282.2% during the same quarter.
• The bank recently announced a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 3.2%, payable to investors of record on August 29th.

Westwood Holdings Group Inc. trimmed its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 432,947 shares of the bank's stock after selling 14,420 shares during the period. Westwood Holdings Group Inc. owned 0.67% of Cullen/Frost Bankers worth $54,205,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CFR. Boston Trust Walden Corp grew its stake in shares of Cullen/Frost Bankers by 5.7% in the 1st quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank's stock worth $139,282,000 after buying an additional 60,187 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cullen/Frost Bankers by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,026,585 shares of the bank's stock worth $137,823,000 after buying an additional 6,159 shares in the last quarter. GAMMA Investing LLC grew 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 worth $125,949,000 after buying an additional 1,005,160 shares in the last quarter. Northern Trust Corp grew its stake in shares of Cullen/Frost Bankers by 33.7% in the 4th quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock worth $130,703,000 after buying an additional 245,458 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew 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 worth $89,083,000 after buying an additional 114,910 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CFR. Raymond James Financial dropped their price objective on shares of 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. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective for the company in a research note on Friday, May 2nd. Stephens lifted their price target on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Jefferies Financial Group initiated coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price target for the company. Finally, Barclays dropped their price target on shares of 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $133.71.

Cullen/Frost Bankers Trading Up 0.9%

CFR traded up $1.04 on Friday, reaching $123.13. 330,664 shares of the company traded hands, compared to its average volume of 436,661. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The firm has a fifty day simple moving average of $130.41 and a two-hundred day simple moving average of $128.17. The company has a market cap of $7.92 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 2.58 and a beta of 0.70. 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 (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share 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 company 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 posted $2.21 EPS. As a group, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share 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. Investors of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 3.2%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 43.06%.

Cullen/Frost Bankers 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.