Diversified Trust Co Decreases Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Diversified Trust Co lessened its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 32.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,537 shares of the bank's stock after selling 5,902 shares during the period. Diversified Trust Co's holdings in Cullen/Frost Bankers were worth $1,570,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Alpine Bank Wealth Management purchased a new stake in Cullen/Frost Bankers during the first quarter worth about $30,000. Oppenheimer Asset Management Inc. increased its holdings in Cullen/Frost Bankers by 1.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,682 shares of the bank's stock worth $962,000 after buying an additional 134 shares during the last quarter. Boston Trust Walden Corp increased its holdings in Cullen/Frost Bankers by 5.7% during the first 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 during the last quarter. State of Alaska Department of Revenue increased its holdings in Cullen/Frost Bankers by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank's stock worth $942,000 after buying an additional 210 shares during the last quarter. Finally, Cardinal Capital Management increased its holdings in Cullen/Frost Bankers by 5.0% during the first quarter. Cardinal Capital Management now owns 17,743 shares of the bank's stock worth $2,221,000 after buying an additional 851 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, CAO Matthew Bradley Henson bought 1,870 shares of the company's stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the transaction, the chief accounting officer now directly owns 5,545 shares in the company, valued at $93,876.85. This trade represents a 50.88% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CFR has been the subject of a number of research analyst reports. Morgan Stanley decreased their price objective on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, March 13th. 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 research note on Friday, May 2nd. Barclays lifted their target price on shares of Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 target price for the company. Finally, Stephens lifted their target price 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. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $132.08.

Cullen/Frost Bankers Price Performance

CFR stock opened at $128.95 on Friday. The firm has a 50 day moving average of $125.01 and a 200-day moving average of $128.86. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12 month low of $96.94 and a 12 month high of $147.64. The firm has a market capitalization of $8.29 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 4.90 and a beta of 0.68.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $540.57 million. During the same period last year, the business earned $2.15 earnings per share. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $1.00 dividend. 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 dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, May 30th. Cullen/Frost Bankers's dividend payout ratio (DPR) is 43.91%.

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.

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