Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Cullen/Frost Bankers by 1.0%, now holding 6,312,000 shares worth approximately $790 million.
• Recent analyses have led to mixed ratings for Cullen/Frost Bankers, with a consensus price target of $133.71 and notable reductions in price objectives from various analysts.
• Cullen/Frost Bankers announced a quarterly dividend of $1.00, yielding a 3.2% annualized rate, with plans to pay it out on September 15th to investors recorded by August 29th.

Vanguard Group Inc. trimmed its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,312,000 shares of the bank's stock after selling 63,303 shares during the period. Vanguard Group Inc. owned 9.82% of Cullen/Frost Bankers worth $790,262,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter valued at about $30,000. UMB Bank n.a. boosted its position in shares of Cullen/Frost Bankers by 59.6% during the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after acquiring an additional 146 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter valued at about $58,000. Parallel Advisors LLC boosted its position in shares of Cullen/Frost Bankers by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 522 shares of the bank's stock valued at $65,000 after acquiring an additional 132 shares during the last quarter. Finally, Reyes Financial Architecture Inc. raised its holdings in Cullen/Frost Bankers by 38.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank's stock valued at $159,000 after buying an additional 354 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Down 1.4%

Shares of Cullen/Frost Bankers stock traded down $1.77 on Friday, reaching $124.62. 687,786 shares of the company were exchanged, compared to its average volume of 448,260. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64. The company has a market cap of $8.02 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.67 and a beta of 0.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. The stock's 50 day moving average price is $130.15 and its 200-day moving average price is $127.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.11. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%. The business had revenue of $567.83 million during the quarter, compared to the consensus estimate of $552.04 million. During the same period in the previous year, the company posted $2.21 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 Announces Dividend

The firm also recently declared 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. This represents a $4.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 29th. Cullen/Frost Bankers's dividend payout ratio is 43.06%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CFR shares. Stephens boosted their price objective on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Jefferies Financial Group started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 price objective on the stock. 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 report 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 report on Friday, August 1st. Finally, Evercore ISI upgraded shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective on the stock in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $133.71.

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.