Cullen/Frost Bankers, Inc. $CFR Stock Sold by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC lowered its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 18.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,308 shares of the bank’s stock after selling 4,160 shares during the period. Crescent Grove Advisors LLC’s holdings in Cullen/Frost Bankers were worth $2,795,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CFR. EFG International AG bought a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at about $5,906,000. Squarepoint Ops LLC grew its position in Cullen/Frost Bankers by 327.0% during the 2nd quarter. Squarepoint Ops LLC now owns 34,023 shares of the bank’s stock worth $5,257,000 after acquiring an additional 26,055 shares during the last quarter. First Eagle Investment Management LLC grew its position in Cullen/Frost Bankers by 22.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank’s stock worth $429,204,000 after acquiring an additional 511,784 shares during the last quarter. Hsbc Holdings PLC bought a new position in Cullen/Frost Bankers during the 2nd quarter worth approximately $7,345,000. Finally, Whittier Trust Co. increased its stake in Cullen/Frost Bankers by 10.6% in the 1st quarter. Whittier Trust Co. now owns 73,835 shares of the bank’s stock worth $10,332,000 after purchasing an additional 7,061 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $155.72 on Thursday. The stock has a market cap of $9.68 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.81 and a beta of 0.56. The firm’s fifty day simple moving average is $159.05 and its 200 day simple moving average is $152.41. Cullen/Frost Bankers, Inc. has a twelve month low of $119.14 and a twelve month high of $170.80. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.15. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. The business had revenue of $576.01 million for the quarter, compared to the consensus estimate of $589.72 million. During the same period in the previous year, the firm earned $2.39 EPS. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 10.94 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. Cullen/Frost Bankers’s payout ratio is presently 38.94%.

Analyst Ratings Changes

Several analysts have weighed in on CFR shares. Stephens boosted their price objective on Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Cullen/Frost Bankers in a report on Tuesday, October 13th. Citigroup raised their target price on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. TD Cowen decreased their target price on shares of Cullen/Frost Bankers from $185.00 to $178.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Finally, Jefferies Financial Group upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and upped their price target for the company from $135.00 to $160.00 in a report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $169.36.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.

Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.