Cullen/Frost Bankers, Inc. (NYSE:CFR) Position Lessened by Fmr LLC

Fmr LLC cut its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,559,748 shares of the bank’s stock after selling 50,061 shares during the quarter. Fmr LLC’s holdings in Cullen/Frost Bankers were worth $209,396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in Cullen/Frost Bankers in the fourth quarter worth about $69,591,000. Madison Investment Advisors LLC acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter valued at $46,223,000. Barclays PLC boosted its holdings in shares of Cullen/Frost Bankers by 234.5% in the third quarter. Barclays PLC now owns 436,393 shares of the bank’s stock worth $48,814,000 after buying an additional 305,921 shares during the period. Strategic Financial Concepts LLC boosted its stake in Cullen/Frost Bankers by 13,334.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 281,860 shares of the bank’s stock worth $37,840,000 after purchasing an additional 279,762 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Cullen/Frost Bankers during the fourth quarter valued at $21,181,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on CFR shares. Keefe, Bruyette & Woods boosted their price objective on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. DA Davidson lowered Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and increased their price objective for the company from $138.00 to $143.00 in a report on Monday, February 3rd. Barclays started coverage on shares of Cullen/Frost Bankers in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $130.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $144.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Finally, Morgan Stanley reduced their target price on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a research note on Thursday, March 13th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $132.57.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $107.57 on Friday. The firm has a market cap of $6.91 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 6.46 and a beta of 0.82. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. The company’s 50-day moving average price is $127.84 and its two-hundred day moving average price is $131.01.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.53%. The ex-dividend date was Friday, February 28th. Cullen/Frost Bankers’s dividend payout ratio is 42.84%.

Insider Activity

In related news, insider Paul Bracher sold 11,500 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the sale, the insider now owns 102,946 shares in the company, valued at approximately $14,355,819.70. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers 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.