Summit Investment Advisors Inc. Sells 1,474 Shares of Cullen/Frost Bankers, Inc. $CFR

Summit Investment Advisors Inc. trimmed its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.9% during the first quarter, HoldingsChannel.com reports. The fund owned 28,633 shares of the bank’s stock after selling 1,474 shares during the period. Summit Investment Advisors Inc.’s holdings in Cullen/Frost Bankers were worth $3,585,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CFR. Alps Advisors Inc. bought a new position in shares of Cullen/Frost Bankers during the first quarter worth $362,000. Cerity Partners LLC grew its stake in Cullen/Frost Bankers by 31.1% in the first quarter. Cerity Partners LLC now owns 61,160 shares of the bank’s stock valued at $7,657,000 after acquiring an additional 14,512 shares during the period. State of Michigan Retirement System increased its holdings in shares of Cullen/Frost Bankers by 1.3% in the first quarter. State of Michigan Retirement System now owns 15,364 shares of the bank’s stock worth $1,924,000 after acquiring an additional 200 shares in the last quarter. Xponance Inc. raised its position in shares of Cullen/Frost Bankers by 1.6% during the first quarter. Xponance Inc. now owns 7,207 shares of the bank’s stock worth $902,000 after purchasing an additional 113 shares during the period. Finally, SkyOak Wealth LLC acquired a new stake in shares of Cullen/Frost Bankers during the first quarter worth about $231,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley increased their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Cantor Fitzgerald started coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They set a “neutral” rating and a $138.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, October 8th. Barclays lowered their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Finally, Raymond James Financial cut their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and an average target price of $136.75.

Cullen/Frost Bankers Trading Up 1.5%

Shares of NYSE:CFR opened at $125.64 on Friday. The company’s 50-day moving average price is $125.98 and its two-hundred day moving average price is $127.48. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $8.03 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 2.94 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.29. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.The business had revenue of $589.31 million for the quarter, compared to the consensus estimate of $565.54 million. During the same quarter in the previous year, the business earned $2.24 earnings per share. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 28th. Cullen/Frost Bankers’s dividend payout ratio is presently 41.15%.

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.