Cullen Frost Bankers Inc. Sells 3,429 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Cullen Frost Bankers Inc. lessened its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 38,275 shares of the bank's stock after selling 3,429 shares during the period. Cullen Frost Bankers Inc. owned approximately 0.06% of Cullen/Frost Bankers worth $4,792,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CFR. Victory Capital Management Inc. lifted its stake in shares of Cullen/Frost Bankers by 55.9% in the first quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank's stock valued at $2,264,000 after purchasing an additional 6,484 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Cullen/Frost Bankers by 4.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 34,493 shares of the bank's stock worth $4,318,000 after buying an additional 1,393 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Cullen/Frost Bankers by 2.6% during the first quarter. Whittier Trust Co. now owns 64,247 shares of the bank's stock worth $8,044,000 after buying an additional 1,598 shares in the last quarter. Edgestream Partners L.P. grew its holdings in shares of Cullen/Frost Bankers by 180.9% during the first quarter. Edgestream Partners L.P. now owns 31,803 shares of the bank's stock worth $3,982,000 after buying an additional 20,480 shares in the last quarter. Finally, Reyes Financial Architecture Inc. grew its holdings in shares of Cullen/Frost Bankers by 38.5% during the first quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank's stock worth $159,000 after buying an additional 354 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Buying and Selling

In related news, CAO Matthew Bradley Henson purchased 1,870 shares of Cullen/Frost Bankers stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $16.93 per share, with a total value of $31,659.10. Following the completion of the transaction, the chief accounting officer directly owned 5,545 shares of the company's stock, valued at $93,876.85. This trade represents a 50.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock traded up $0.18 during trading on Friday, hitting $138.71. 328,792 shares of the stock were exchanged, compared to its average volume of 442,968. The stock's fifty day moving average is $129.98 and its 200 day moving average is $128.81. The stock has a market cap of $8.92 billion, a PE ratio of 15.23, a P/E/G ratio of 2.94 and a beta of 0.68. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.13. The firm had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. During the same quarter in the prior year, the firm posted $2.15 EPS. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, May 30th. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.88%. Cullen/Frost Bankers's dividend payout ratio is currently 43.91%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CFR shares. Evercore ISI upgraded shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price for the company in a report on Friday, May 2nd. Barclays boosted their target price on shares of Cullen/Frost Bankers from $135.00 to $155.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Stephens boosted their target price on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Royal Bank Of Canada decreased their price objective on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Finally, Jefferies Financial Group assumed 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 objective for the company. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $134.79.

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.