Palisade Capital Management LP Decreases Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Palisade Capital Management LP reduced its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 275,517 shares of the bank's stock after selling 2,871 shares during the quarter. Cullen/Frost Bankers comprises about 1.0% of Palisade Capital Management LP's investment portfolio, making the stock its 23rd biggest position. Palisade Capital Management LP owned 0.43% of Cullen/Frost Bankers worth $34,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CFR. Oppenheimer Asset Management Inc. bought a new stake in Cullen/Frost Bankers during the fourth quarter worth approximately $1,013,000. US Bancorp DE grew its stake in shares of Cullen/Frost Bankers by 15.1% during the fourth quarter. US Bancorp DE now owns 4,339 shares of the bank's stock valued at $583,000 after buying an additional 568 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Cullen/Frost Bankers by 58.8% during the fourth quarter. Jones Financial Companies Lllp now owns 5,344 shares of the bank's stock valued at $717,000 after buying an additional 1,978 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $106,000. Finally, Glass Wealth Management Co LLC grew its stake in shares of Cullen/Frost Bankers by 0.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 35,394 shares of the bank's stock valued at $4,752,000 after buying an additional 170 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Trading Up 1.3%

NYSE:CFR traded up $1.72 during midday trading on Friday, hitting $136.19. The stock had a trading volume of 394,298 shares, compared to its average volume of 457,150. The stock has a 50-day moving average of $126.95 and a 200 day moving average of $128.69. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 5.19 and a beta of 0.68. Cullen/Frost Bankers, Inc. has a one year low of $96.94 and a one year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.17 by $0.13. The company had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.70% and a net margin of 20.89%. During the same quarter in the prior year, the business earned $2.15 earnings per share. As a group, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, May 30th. This represents a $4.00 dividend on an annualized basis and a yield of 2.94%. This is a positive change from Cullen/Frost Bankers's previous quarterly dividend of $0.95. Cullen/Frost Bankers's dividend payout ratio is currently 43.91%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CFR shares. Jefferies Financial Group started coverage on Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an "underperform" rating and a $105.00 target price on the stock. Royal Bank Of Canada cut their target price on Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 target price on the stock in a research note on Friday, May 2nd. Stephens upped their target price on Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Barclays increased their price objective on 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. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $132.08.

Insiders Place Their Bets

In related news, CAO Matthew Bradley Henson bought 1,870 shares of the stock in a transaction on Friday, May 2nd. The stock was bought at an average price of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the acquisition, the chief accounting officer directly owned 5,545 shares in the company, valued at approximately $93,876.85. This represents a 50.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.89% of the stock is currently owned by corporate insiders.

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.