Northwestern Mutual Wealth Management Co. Sells 3,868 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Northwestern Mutual Wealth Management Co. significantly reduced its stake in Cullen/Frost Bankers by 60.4%, holding 2,540 shares valued at $318,000 after selling 3,868 shares.
• Recent analyst reports have resulted in target price adjustments for Cullen/Frost Bankers, with Barclays reducing it from $155.00 to $145.00 and Jefferies Financial Group setting a target price of $105.00.
• Cullen/Frost Bankers announced a quarterly dividend of $1.00, providing an annualized dividend of $4.00 and a yield of 3.1%.

Northwestern Mutual Wealth Management Co. trimmed its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 60.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,540 shares of the bank's stock after selling 3,868 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Cullen/Frost Bankers were worth $318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Cullen/Frost Bankers during the first quarter worth about $30,000. UMB Bank n.a. grew its stake in shares of Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after acquiring an additional 146 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Cullen/Frost Bankers during the first quarter worth about $57,000. Cary Street Partners Investment Advisory LLC purchased a new position in Cullen/Frost Bankers in the first quarter valued at about $58,000. Finally, Parallel Advisors LLC boosted its holdings in Cullen/Frost Bankers by 33.8% in the first quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock valued at $65,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

CFR has been the subject of several research analyst reports. Barclays lowered their price objective 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. Jefferies Financial Group initiated coverage on Cullen/Frost Bankers in a report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price objective for the company. Finally, Raymond James Financial lowered their price objective on Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $133.71.

Cullen/Frost Bankers Price Performance

NYSE:CFR traded down $0.62 during midday trading on Tuesday, hitting $129.06. 41,010 shares of the stock were exchanged, compared to its average volume of 438,828. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.69 and a beta of 0.74. The business has a 50-day moving average price of $131.02 and a two-hundred day moving average price of $126.09. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05.

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

Cullen/Frost Bankers Dividend Announcement

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 issued a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 3.1%. Cullen/Frost Bankers's dividend payout ratio is currently 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.