King Luther Capital Management Corp Decreases Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Key Points

• King Luther Capital Management trimmed its Cullen/Frost Bankers stake by 1.6% in the fourth quarter, but still held 1,332,319 shares valued at about $168.7 million.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $148.73; recent moves included price-target tweaks from Barclays, DA Davidson, and Morgan Stanley.
• Cullen/Frost Bankers reported Q1 earnings of $2.65 per share, beating estimates, and also raised its quarterly dividend to $1.03 per share, implying a 3.0% annualized yield.

King Luther Capital Management Corp lessened its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,332,319 shares of the bank's stock after selling 21,876 shares during the period. King Luther Capital Management Corp owned 2.11% of Cullen/Frost Bankers worth $168,712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Diversified Trust Co. grew its holdings in Cullen/Frost Bankers by 0.5% during the 4th quarter. Diversified Trust Co. now owns 13,868 shares of the bank's stock valued at $1,756,000 after purchasing an additional 74 shares in the last quarter. Matrix Trust Co grew its holdings in Cullen/Frost Bankers by 40.4% during the 4th quarter. Matrix Trust Co now owns 320 shares of the bank's stock valued at $41,000 after purchasing an additional 92 shares in the last quarter. Private Advisor Group LLC grew its holdings in Cullen/Frost Bankers by 2.9% during the 3rd quarter. Private Advisor Group LLC now owns 3,283 shares of the bank's stock valued at $416,000 after purchasing an additional 94 shares in the last quarter. Cardinal Capital Management grew its holdings in Cullen/Frost Bankers by 0.5% during the 4th quarter. Cardinal Capital Management now owns 18,134 shares of the bank's stock valued at $2,296,000 after purchasing an additional 98 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Cullen/Frost Bankers by 67.6% during the 4th quarter. Covestor Ltd now owns 248 shares of the bank's stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CFR. Barclays raised their price target on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the company an "equal weight" rating in a report on Tuesday, April 7th. Loop Capital set a $160.00 price objective on shares of Cullen/Frost Bankers in a research note on Monday, February 2nd. Weiss Ratings upgraded shares of Cullen/Frost Bankers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. DA Davidson increased their price objective on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Finally, Morgan Stanley reduced their price objective on shares of Cullen/Frost Bankers from $143.00 to $133.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Cullen/Frost Bankers has a consensus rating of "Hold" and a consensus price target of $148.73.

Cullen/Frost Bankers Trading Up 0.1%

NYSE CFR opened at $139.50 on Wednesday. Cullen/Frost Bankers, Inc. has a 12 month low of $119.00 and a 12 month high of $148.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 3.55 and a beta of 0.58. The company's fifty day moving average price is $138.79 and its two-hundred day moving average price is $135.29.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.49 by $0.16. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. The firm had revenue of $574.84 million for the quarter, compared to the consensus estimate of $587.29 million. During the same period in the prior year, the firm posted $2.30 EPS. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 10.41 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, May 29th. Cullen/Frost Bankers's dividend payout ratio is currently 40.12%.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.

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