Polaris Capital Management LLC Has $41.32 Million Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Polaris Capital Management LLC lowered its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,800 shares of the bank’s stock after selling 10,400 shares during the quarter. Cullen/Frost Bankers makes up approximately 2.0% of Polaris Capital Management LLC’s holdings, making the stock its 13th biggest position. Polaris Capital Management LLC owned about 0.48% of Cullen/Frost Bankers worth $41,322,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC boosted its position in shares of Cullen/Frost Bankers by 7.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock valued at $381,897,000 after acquiring an additional 244,445 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its holdings in Cullen/Frost Bankers by 10.2% in the third quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock valued at $135,252,000 after acquiring an additional 111,719 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cullen/Frost Bankers by 6.4% in the third quarter. Geode Capital Management LLC now owns 1,097,697 shares of the bank’s stock valued at $122,820,000 after acquiring an additional 66,223 shares during the last quarter. Boston Trust Walden Corp grew its stake in shares of Cullen/Frost Bankers by 9.8% during the fourth quarter. Boston Trust Walden Corp now owns 1,052,290 shares of the bank’s stock worth $141,270,000 after purchasing an additional 94,252 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Cullen/Frost Bankers by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank’s stock valued at $90,185,000 after acquiring an additional 25,909 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CFR. Maxim Group raised their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a report on Friday, November 1st. DA Davidson downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and raised their target price for the company from $138.00 to $143.00 in a research note on Monday, February 3rd. Stephens boosted their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. Finally, Citigroup boosted their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus price target of $132.54.

Cullen/Frost Bankers Trading Down 1.3 %

Shares of CFR opened at $138.73 on Tuesday. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 6.52 and a beta of 0.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $147.64. The company has a 50-day moving average of $137.54 and a 200 day moving average of $125.98.

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 analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 16.04% and a net margin of 18.81%. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.69 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, February 28th. This represents a $3.80 dividend on an annualized basis and a yield of 2.74%. Cullen/Frost Bankers’s dividend payout ratio is currently 42.84%.

Insider Activity

In related news, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now owns 94,423 shares in the company, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Bracher sold 11,500 shares of Cullen/Frost Bankers 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 completion of the transaction, the insider now owns 102,946 shares of the company’s stock, valued at $14,355,819.70. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.89% of the company’s stock.

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.