Great Lakes Advisors LLC Cuts Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Great Lakes Advisors LLC trimmed its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,756 shares of the bank’s stock after selling 106 shares during the quarter. Great Lakes Advisors LLC’s holdings in Cullen/Frost Bankers were worth $773,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd increased its holdings in shares of Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Cullen/Frost Bankers by 45.8% during the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Cullen/Frost Bankers during the 3rd quarter valued at approximately $29,000. Blue Trust Inc. increased its holdings in shares of Cullen/Frost Bankers by 239.0% during the 4th quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after purchasing an additional 239 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at $44,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $144.00 price target on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. DA Davidson cut shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and lifted their price target for the company from $138.00 to $143.00 in a research note on Monday, February 3rd. Morgan Stanley dropped 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. Finally, Evercore ISI lifted their price target on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the company an “underperform” rating in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus target price of $132.77.

Insider Activity

In related news, insider Paul Bracher sold 11,500 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the sale, the insider now directly owns 102,946 shares in the company, valued at approximately $14,355,819.70. The trade was a 10.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Trading Up 2.3 %

Shares of CFR stock opened at $122.64 on Monday. The company’s 50-day moving average price is $137.03 and its 200-day moving average price is $130.17. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 6.46 and a beta of 0.97. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. As a group, equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $3.80 annualized dividend and a dividend yield of 3.10%. Cullen/Frost Bankers’s payout ratio is 42.84%.

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.