Cullen/Frost Bankers, Inc. (NYSE:CFR) Holdings Lowered by Two Sigma Investments LP

Two Sigma Investments LP lessened its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 90.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,629 shares of the bank's stock after selling 89,929 shares during the period. Two Sigma Investments LP's holdings in Cullen/Frost Bankers were worth $1,293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $69,591,000. Madison Investment Advisors LLC purchased a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $46,223,000. Strategic Financial Concepts LLC lifted its stake in shares of Cullen/Frost Bankers by 13,334.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 281,860 shares of the bank's stock valued at $37,840,000 after buying an additional 279,762 shares during the period. Northern Trust Corp lifted its stake in shares of Cullen/Frost Bankers by 33.7% during the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock valued at $130,703,000 after buying an additional 245,458 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $21,181,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Activity at Cullen/Frost Bankers

In other news, CAO Matthew Bradley Henson acquired 1,870 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were 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 in the company, valued at $93,876.85. This trade represents a 50.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CFR shares. Barclays upped their price objective on shares of Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Morgan Stanley cut their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada cut their price target on shares of 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 shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target on the stock in a research note on Friday, May 2nd. Finally, Jefferies Financial Group initiated 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 target on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Hold" and an average target price of $131.93.

Cullen/Frost Bankers Trading Up 2.3%

Shares of Cullen/Frost Bankers stock traded up $2.89 during trading hours on Friday, hitting $129.26. The company's stock had a trading volume of 344,357 shares, compared to its average volume of 466,409. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $147.64. The business has a fifty day moving average of $120.35 and a 200 day moving average of $130.19. The company has a market capitalization of $8.31 billion, a PE ratio of 14.57, a P/E/G ratio of 6.46 and a beta of 0.68. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 20.44% and a return on equity of 15.95%. During the same quarter in the prior year, the business earned $2.15 earnings per share. As a group, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, May 30th. This is a boost from Cullen/Frost Bankers's previous quarterly dividend of $0.95. Cullen/Frost Bankers's dividend payout ratio (DPR) is 43.91%.

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.