Deutsche Bank AG Cuts Stake in Cullen/Frost Bankers, Inc. $CFR

Key Points

• Deutsche Bank AG has reduced its holding in Cullen/Frost Bankers, Inc. by 73.6%, now owning only 5,150 shares, following the sale of 14,381 shares during the first quarter.
• Cullen/Frost Bankers reported a quarterly earnings per share (EPS) of $2.39, exceeding estimates and also generated revenue of $567.83 million for the quarter.
• The bank announced a quarterly dividend of $1.00 per share, resulting in a yield of 3.0%, with the payment scheduled for September 15th.

Deutsche Bank AG trimmed its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 73.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,150 shares of the bank's stock after selling 14,381 shares during the period. Deutsche Bank AG's holdings in Cullen/Frost Bankers were worth $645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Trust Walden Corp lifted its holdings in shares of Cullen/Frost Bankers by 5.7% during the 1st quarter. Boston Trust Walden Corp now owns 1,112,477 shares of the bank's stock valued at $139,282,000 after buying an additional 60,187 shares during the period. GAMMA Investing LLC grew its position in shares of Cullen/Frost Bankers by 122,282.2% during the first quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock valued at $125,949,000 after purchasing an additional 1,005,160 shares in the last quarter. Northern Trust Corp grew its position in Cullen/Frost Bankers by 33.7% in the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock worth $130,703,000 after acquiring an additional 245,458 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Cullen/Frost Bankers by 19.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 711,527 shares of the bank's stock worth $89,083,000 after acquiring an additional 114,910 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Cullen/Frost Bankers by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 635,899 shares of the bank's stock worth $79,615,000 after acquiring an additional 24,177 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on CFR shares. Raymond James Financial dropped their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Evercore ISI upgraded Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target for the company in a research report on Friday, May 2nd. Royal Bank Of Canada dropped their price target on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Barclays dropped their price target on Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Finally, Stephens lifted their price target on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $133.71.

Cullen/Frost Bankers Trading Down 1.5%

Shares of NYSE:CFR traded down $1.98 during trading hours on Friday, hitting $128.86. 422,497 shares of the company's stock traded hands, compared to its average volume of 524,605. The business has a fifty day moving average price of $130.86 and a 200-day moving average price of $126.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a 1 year low of $100.31 and a 1 year high of $147.64. The firm has a market capitalization of $8.29 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 2.75 and a beta of 0.70.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $567.83 million during the quarter, compared to the consensus estimate of $552.04 million. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 3.1%. Cullen/Frost Bankers's payout ratio is 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.