Venturi Wealth Management LLC Sells 2,823 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Venturi Wealth Management LLC has reduced its stake in Cullen/Frost Bankers by 40%, selling 2,823 shares, and now holds 4,240 shares valued at $545,000.
• Cullen/Frost Bankers reported $2.39 EPS for the last quarter, beating estimates, with revenue of $567.83 million, surpassing projections of $552.04 million.
• The company recently announced a $1.00 quarterly dividend, resulting in an annualized yield of 3.1% and a payout ratio of 43.06%.

Venturi Wealth Management LLC reduced its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 40.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,240 shares of the bank's stock after selling 2,823 shares during the period. Venturi Wealth Management LLC's holdings in Cullen/Frost Bankers were worth $545,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CFR. UMB Bank n.a. boosted its holdings in shares of Cullen/Frost Bankers by 59.6% in the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after buying an additional 146 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Cullen/Frost Bankers by 29.9% in the 1st quarter. Park Avenue Securities LLC now owns 2,900 shares of the bank's stock valued at $363,000 after buying an additional 667 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cullen/Frost Bankers by 877.5% in the 1st quarter. GAMMA Investing LLC now owns 8,035 shares of the bank's stock valued at $1,006,000 after buying an additional 7,213 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Cullen/Frost Bankers by 644.1% in the 1st quarter. SG Americas Securities LLC now owns 9,726 shares of the bank's stock valued at $1,218,000 after buying an additional 8,419 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Cullen/Frost Bankers by 19.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 711,527 shares of the bank's stock valued at $89,083,000 after buying an additional 114,910 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $127.78 on Friday. 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, Inc. has a 12 month low of $100.31 and a 12 month high of $147.64. The company has a 50 day simple moving average of $127.03 and a two-hundred day simple moving average of $125.91. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 2.66 and a beta of 0.71.

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, beating the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The business had revenue of $567.83 million during the quarter, compared to analysts' expectations of $552.04 million. During the same period in the previous year, the business posted $2.21 EPS. As a group, analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays lowered their price target 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. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cullen/Frost Bankers in a research note on Wednesday. Evercore ISI lifted their target price on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. Raymond James Financial lowered their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Monday, August 4th. Finally, TD Cowen upgraded shares of Cullen/Frost Bankers to a "strong-buy" rating in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $137.31.

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.

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