Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC lessened its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,220 shares of the bank's stock after selling 2,136 shares during the quarter. WCM Investment Management LLC owned approximately 0.07% of Cullen/Frost Bankers worth $5,875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CFR. GAMMA Investing LLC boosted its position in Cullen/Frost Bankers by 122,282.2% during the 1st quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank's stock valued at $125,949,000 after acquiring an additional 1,005,160 shares in the last quarter. Norges Bank acquired a new stake in shares of Cullen/Frost Bankers in the 4th quarter worth $69,591,000. Madison Investment Advisors LLC acquired a new stake in shares of Cullen/Frost Bankers in the 4th quarter worth $46,223,000. Northern Trust Corp boosted its position in shares of Cullen/Frost Bankers by 33.7% in the 4th quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock worth $130,703,000 after purchasing an additional 245,458 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Cullen/Frost Bankers in the 4th quarter worth $21,181,000. Institutional investors own 86.90% of the company's stock.

Insider Transactions at Cullen/Frost Bankers

In related news, CAO Matthew Bradley Henson bought 1,870 shares of the stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the acquisition, the chief accounting officer directly owned 5,545 shares in the company, valued at approximately $93,876.85. This trade represents a 50.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CFR shares. Barclays raised their price objective on Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Evercore ISI raised Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective for the company in a research report on Friday, May 2nd. Morgan Stanley lowered their price objective on Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a research report on Thursday, March 13th. Stephens raised their price objective on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Jefferies Financial Group began coverage on Cullen/Frost Bankers in a research note on Wednesday, May 21st. They issued an "underperform" rating and a $105.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $132.08.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock traded up $1.72 during mid-day trading on Friday, hitting $136.19. The company had a trading volume of 394,298 shares, compared to its average volume of 457,150. Cullen/Frost Bankers, Inc. has a 12-month low of $96.94 and a 12-month high of $147.64. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The company's fifty day moving average is $126.95 and its 200-day moving average is $128.67. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 5.19 and a beta of 0.68.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.13. Cullen/Frost Bankers had a net margin of 20.89% and a return on equity of 15.70%. The firm had revenue of $560.42 million for the quarter, compared to analysts' expectations of $540.57 million. During the same quarter last year, the company earned $2.15 EPS. Equities research analysts predict 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 was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $1.00 dividend. 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 (DPR) is presently 43.91%.

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.