GW&K Investment Management LLC Sells 16,677 Shares of Cullen/Frost Bankers, Inc. $CFR

GW&K Investment Management LLC cut its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 383,363 shares of the bank’s stock after selling 16,677 shares during the quarter. GW&K Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $48,546,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. M&T Bank Corp grew its stake in shares of Cullen/Frost Bankers by 13.5% during the fourth quarter. M&T Bank Corp now owns 109,154 shares of the bank’s stock valued at $13,822,000 after buying an additional 12,990 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Cullen/Frost Bankers by 863.1% during the 4th quarter. Concurrent Investment Advisors LLC now owns 21,448 shares of the bank’s stock worth $2,716,000 after acquiring an additional 19,221 shares during the last quarter. Marshall Financial Group LLC purchased a new position in Cullen/Frost Bankers during the 4th quarter valued at $1,142,000. Tudor Investment Corp ET AL boosted its holdings in Cullen/Frost Bankers by 915.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 43,036 shares of the bank’s stock valued at $5,456,000 after acquiring an additional 38,796 shares during the period. Finally, ProShare Advisors LLC grew its position in Cullen/Frost Bankers by 3.7% in the 4th quarter. ProShare Advisors LLC now owns 268,194 shares of the bank’s stock valued at $33,961,000 after acquiring an additional 9,612 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on CFR shares. Royal Bank Of Canada increased their target price on Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Stephens upgraded shares of Cullen/Frost Bankers from an “equal weight” rating to an “overweight” rating and set a $164.00 price target on the stock in a report on Tuesday, May 5th. Barclays raised their price target on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Monday, April 13th. Finally, Citigroup upped their target price on shares of Cullen/Frost Bankers from $125.00 to $131.00 and gave the stock a “sell” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $148.73.

Cullen/Frost Bankers Price Performance

NYSE CFR opened at $143.68 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $9.02 billion, a PE ratio of 13.99, a P/E/G ratio of 3.57 and a beta of 0.55. The firm’s 50 day moving average price is $139.73 and its 200-day moving average price is $136.31. Cullen/Frost Bankers, Inc. has a 52-week low of $119.00 and a 52-week high of $148.97.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $574.84 million for the quarter, compared to the consensus estimate of $587.29 million. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.During the same period last year, the business posted $2.30 EPS. Sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 10.46 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $1.03 dividend. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, May 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 40.12%.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.