Comerica Bank Sells 1,016 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Comerica Bank cut its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,668 shares of the bank’s stock after selling 1,016 shares during the period. Comerica Bank’s holdings in Cullen/Frost Bankers were worth $3,580,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at about $29,000. UMB Bank n.a. lifted its position in Cullen/Frost Bankers by 45.8% in the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Cullen/Frost Bankers by 239.0% during the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after purchasing an additional 239 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Cullen/Frost Bankers by 35.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank’s stock worth $62,000 after purchasing an additional 120 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Cullen/Frost Bankers in the fourth quarter worth $106,000. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CFR. Royal Bank of Canada dropped their price target on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Keefe, Bruyette & Woods raised their target price on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Stephens upped their price target on Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. DA Davidson cut Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $138.00 to $143.00 in a report on Monday, February 3rd. Finally, Barclays boosted their target price on Cullen/Frost Bankers from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $132.14.

Insider Buying and Selling

In related news, CAO Matthew Bradley Henson purchased 1,870 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were purchased at an average price of $16.93 per share, with a total value of $31,659.10. Following the acquisition, the chief accounting officer now directly owns 5,545 shares in the company, valued at $93,876.85. The trade was a 50.88 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.89% of the stock is owned by company insiders.

Cullen/Frost Bankers Trading Down 0.9 %

NYSE CFR opened at $122.49 on Wednesday. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $119.32 and its 200-day moving average price is $131.05. The stock has a market cap of $7.87 billion, a P/E ratio of 13.81, a P/E/G ratio of 6.46 and a beta of 0.67.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, beating the consensus estimate of $2.17 by $0.13. The company had revenue of $560.42 million for the quarter, compared to the consensus estimate of $540.57 million. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. During the same period in the prior year, the firm posted $2.15 EPS. As a group, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, May 30th. This represents a $4.00 annualized dividend and a dividend yield of 3.27%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 41.71%.

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.