Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 69.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 68,818 shares of the bank's stock after selling 153,948 shares during the period. Millennium Management LLC owned 0.11% of Cullen/Frost Bankers worth $9,239,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Jefferies Financial Group Inc. acquired a new position in Cullen/Frost Bankers in the fourth quarter valued at about $408,000. Focus Partners Wealth acquired a new stake in shares of Cullen/Frost Bankers in the 4th quarter valued at about $204,000. Deutsche Bank AG boosted its position in Cullen/Frost Bankers by 418.9% during the 4th quarter. Deutsche Bank AG now owns 19,531 shares of the bank's stock worth $2,622,000 after acquiring an additional 15,767 shares during the last quarter. Cetera Investment Advisers increased its stake in Cullen/Frost Bankers by 16.8% in the 4th quarter. Cetera Investment Advisers now owns 6,846 shares of the bank's stock valued at $919,000 after buying an additional 984 shares during the last quarter. Finally, Brevan Howard Capital Management LP raised its holdings in Cullen/Frost Bankers by 81.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 5,128 shares of the bank's stock worth $688,000 after acquiring an additional 2,299 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays lifted their target price on Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Stephens upped their target price on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Jefferies Financial Group assumed coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price objective for the company. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective for the company in a research report on Friday, May 2nd. Finally, Morgan Stanley decreased their price objective on Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $131.93.

Insiders Place Their Bets

In related news, CAO Matthew Bradley Henson acquired 1,870 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the transaction, the chief accounting officer now directly owns 5,545 shares of the company's stock, valued at approximately $93,876.85. This trade represents a 50.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by company insiders.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock traded down $0.41 during mid-day trading on Friday, reaching $127.72. The stock had a trading volume of 27,370 shares, compared to its average volume of 464,002. The business's fifty day moving average is $120.03 and its 200-day moving average is $130.80. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 6.46 and a beta of 0.67. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $147.64. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.17 by $0.13. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. The company had revenue of $560.42 million for the quarter, compared to the consensus estimate of $540.57 million. During the same period in the previous year, the firm earned $2.15 earnings per share. On average, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.13%. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. The ex-dividend date is Friday, May 30th. Cullen/Frost Bankers's payout ratio is presently 43.91%.

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.