LPL Financial LLC Sells 3,838 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

LPL Financial LLC reduced its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,995 shares of the bank's stock after selling 3,838 shares during the quarter. LPL Financial LLC owned 0.10% of Cullen/Frost Bankers worth $7,887,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 1,005,160 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Cullen/Frost Bankers by 350.8% in the 1st quarter. Impax Asset Management Group plc now owns 518,387 shares of the bank's stock worth $64,359,000 after purchasing an additional 403,387 shares in the last quarter. Northern Trust Corp boosted its holdings 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 purchasing an additional 245,458 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cullen/Frost Bankers in the 4th quarter worth about $21,181,000. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings 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 purchasing an additional 114,910 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Raymond James Financial decreased their target price 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. 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 target price on the stock. Barclays dropped their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Stephens increased their target price on Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada dropped their target price on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has an average rating of "Hold" and a consensus target price of $133.71.

Cullen/Frost Bankers Trading Down 1.4%

NYSE CFR traded down $1.81 on Friday, hitting $124.58. The company's stock had a trading volume of 59,436 shares, compared to its average volume of 437,159. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $147.64. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The company's 50-day simple moving average is $130.24 and its 200 day simple moving average is $127.74. The firm has a market cap of $8.01 billion, a P/E ratio of 13.43, a PEG ratio of 2.65 and a beta of 0.70.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%. The business had revenue of $567.83 million during the quarter, compared to analysts' expectations of $552.04 million. During the same quarter last year, the business posted $2.21 EPS. Research analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 43.06%.

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.