Bartlett & CO. Wealth Management LLC Trims Position in Cullen/Frost Bankers, Inc. $CFR

Bartlett & CO. Wealth Management LLC trimmed its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 33.3% during the 1st quarter, Holdings Channel reports. The firm owned 121,037 shares of the bank’s stock after selling 60,458 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Cullen/Frost Bankers were worth $16,860,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. M&T Bank Corp grew its position in shares of Cullen/Frost Bankers by 13.5% during the fourth quarter. M&T Bank Corp now owns 109,154 shares of the bank’s stock worth $13,822,000 after purchasing an additional 12,990 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Cullen/Frost Bankers by 863.1% in the 4th quarter. Concurrent Investment Advisors LLC now owns 21,448 shares of the bank’s stock worth $2,716,000 after purchasing an additional 19,221 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Cullen/Frost Bankers by 3.7% in the 4th quarter. ProShare Advisors LLC now owns 268,194 shares of the bank’s stock worth $33,961,000 after purchasing an additional 9,612 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in Cullen/Frost Bankers by 915.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 43,036 shares of the bank’s stock worth $5,456,000 after purchasing an additional 38,796 shares during the period. Finally, Verition Fund Management LLC boosted its stake in Cullen/Frost Bankers by 52.8% in the 4th quarter. Verition Fund Management LLC now owns 130,944 shares of the bank’s stock worth $16,581,000 after purchasing an additional 45,254 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Carol Jean Severyn sold 837 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $148.29, for a total value of $124,118.73. Following the sale, the executive vice president owned 12,712 shares in the company, valued at approximately $1,885,062.48. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CFR shares. Jefferies Financial Group raised shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and increased their price objective for the company from $135.00 to $160.00 in a report on Monday, July 6th. Cantor Fitzgerald boosted their target price on shares of Cullen/Frost Bankers from $154.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank Of Canada upped their target price on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Citigroup raised their target price on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Finally, Stephens upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $152.42.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock opened at $161.48 on Friday. The stock has a 50 day moving average of $146.08 and a 200 day moving average of $141.34. Cullen/Frost Bankers, Inc. has a 12 month low of $119.00 and a 12 month high of $163.80. The firm has a market cap of $10.14 billion, a PE ratio of 15.72, a PEG ratio of 2.92 and a beta of 0.54. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The business had revenue of $574.84 million during the quarter, compared to analysts’ expectations of $587.28 million. During the same quarter last year, the business posted $2.30 EPS. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 10.57 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, May 29th. Cullen/Frost Bankers’s payout ratio is 40.12%.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.