Keene & Associates Inc. Lowers Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Keene & Associates Inc. trimmed its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 16.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,151 shares of the bank’s stock after selling 1,005 shares during the period. Keene & Associates Inc.’s holdings in Cullen/Frost Bankers were worth $523,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Cullen/Frost Bankers by 20.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 787,599 shares of the bank’s stock worth $85,451,000 after acquiring an additional 131,726 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Cullen/Frost Bankers by 125.2% during the first quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock valued at $1,338,000 after purchasing an additional 6,610 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Cullen/Frost Bankers by 4.5% in the 4th quarter. Westwood Holdings Group Inc. now owns 371,879 shares of the bank’s stock worth $40,345,000 after purchasing an additional 15,981 shares in the last quarter. Oak Harvest Investment Services purchased a new stake in shares of Cullen/Frost Bankers in the 1st quarter worth approximately $2,972,000. Finally, Goldman Sachs Group Inc. increased its position in Cullen/Frost Bankers by 44.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after buying an additional 244,197 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Up 3.3 %

CFR stock opened at $109.41 on Monday. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The business’s 50-day moving average is $109.57 and its two-hundred day moving average is $106.77. Cullen/Frost Bankers, Inc. has a fifty-two week low of $82.25 and a fifty-two week high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.14. The firm had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter in the prior year, the business earned $2.47 EPS. As a group, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.95 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.47%. Cullen/Frost Bankers’s payout ratio is presently 44.92%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Evercore ISI dropped their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. Royal Bank of Canada upped their price target on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Morgan Stanley lowered shares of Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $112.00 to $121.00 in a research note on Monday, August 5th. Jefferies Financial Group dropped their target price on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, Stephens raised their price target on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.93.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares in the company, valued at $2,243,796.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction on Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares in the company, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by company insiders.

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.