Cullen/Frost Bankers, Inc. $CFR Shares Sold by Teza Capital Management LLC

Key Points

• Teza Capital Management LLC reduced its stake in Cullen/Frost Bankers by 79.7% in the first quarter, leaving them with just 2,083 shares.
• Analysts have adjusted their price targets for Cullen/Frost Bankers, with Barclays lowering it from $155.00 to $145.00 and Jefferies setting a target of $105.00.
• Cullen/Frost Bankers will pay a quarterly dividend of $1.00 on September 15th, resulting in an annualized dividend yield of 3.1%.

Teza Capital Management LLC cut its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 79.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,083 shares of the bank's stock after selling 8,198 shares during the quarter. Teza Capital Management LLC's holdings in Cullen/Frost Bankers were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CFR. Alpine Bank Wealth Management purchased a new position in shares of Cullen/Frost Bankers in the first quarter valued at $30,000. UMB Bank n.a. boosted its stake in shares of Cullen/Frost Bankers by 59.6% in the first quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after purchasing an additional 146 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Cullen/Frost Bankers in the first quarter valued at $57,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Cullen/Frost Bankers in the first quarter valued at $58,000. Finally, Parallel Advisors LLC boosted its stake in shares of 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 period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CFR shares. Cantor Fitzgerald started coverage on shares of Cullen/Frost Bankers in a research note on Wednesday. They issued a "neutral" rating and a $138.00 target price for the company. Raymond James Financial reduced their price objective on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Monday, August 4th. Barclays reduced their price objective on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Jefferies Financial Group began coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Reduce" and a consensus price target of $134.00.

Cullen/Frost Bankers Stock Down 0.4%

NYSE CFR traded down $0.46 during trading hours on Friday, reaching $127.55. 311,366 shares of the company traded hands, compared to its average volume of 416,149. The stock has a market capitalization of $8.20 billion, a PE ratio of 13.73, a PEG ratio of 2.68 and a beta of 0.74. Cullen/Frost Bankers, Inc. has a 12 month low of $100.31 and a 12 month high of $147.64. The company has a 50 day moving average of $130.43 and a two-hundred day moving average of $125.82. 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 issued its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.11. The company had revenue of $567.83 million for the quarter, compared to analysts' expectations of $552.04 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same period in the prior year, the company earned $2.21 earnings per share. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio is 43.06%.

Cullen/Frost Bankers Company 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.