Cullen/Frost Bankers, Inc. $CFR Stock: Crescent Grove Advisors LLC Trims Position

Crescent Grove Advisors LLC lowered its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 18.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,308 shares of the bank’s stock after selling 4,160 shares during the period. Crescent Grove Advisors LLC’s holdings in Cullen/Frost Bankers were worth $2,795,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cardinal Capital Management grew its stake in Cullen/Frost Bankers by 4.1% in the third quarter. Cardinal Capital Management now owns 20,125 shares of the bank’s stock worth $3,072,000 after purchasing an additional 796 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Cullen/Frost Bankers by 89.1% in the third quarter. Crossmark Global Holdings Inc. now owns 3,691 shares of the bank’s stock worth $564,000 after purchasing an additional 1,739 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in Cullen/Frost Bankers by 35.9% in the third quarter. TD Waterhouse Canada Inc. now owns 1,670 shares of the bank’s stock worth $256,000 after purchasing an additional 441 shares in the last quarter. Hanson & Doremus Investment Management purchased a new position in Cullen/Frost Bankers during the third quarter valued at $229,000. Finally, GK Wealth Management LLC purchased a new position in Cullen/Frost Bankers during the third quarter valued at $32,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $155.72 on Thursday. Cullen/Frost Bankers, Inc. has a twelve month low of $119.14 and a twelve month high of $170.80. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $9.68 billion, a P/E ratio of 14.73, a PEG ratio of 1.81 and a beta of 0.56. The stock’s 50 day moving average is $159.05 and its 200 day moving average is $152.41.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.15. The business had revenue of $576.01 million during the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%. During the same quarter in the previous year, the business earned $2.39 earnings per share. On average, equities research analysts predict that Cullen/Frost Bankers, Inc. will post 10.94 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio is currently 38.94%.

Wall Street Analyst Weigh In

CFR has been the topic of a number of research reports. Raymond James Financial restated a “market perform” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 1st. Barclays increased their price target on shares of Cullen/Frost Bankers from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, October 5th. Jefferies Financial Group upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and increased their price target for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a research report on Tuesday, October 13th. Finally, Zacks Research lowered shares of Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $169.36.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.

Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.