Ameriprise Financial Inc. Sells 7,603 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Ameriprise Financial Inc. cut its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,276 shares of the bank’s stock after selling 7,603 shares during the quarter. Ameriprise Financial Inc. owned about 0.15% of Cullen/Frost Bankers worth $13,328,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Cullen/Frost Bankers in the fourth quarter worth $69,591,000. Madison Investment Advisors LLC bought a new stake in Cullen/Frost Bankers in the fourth quarter worth $46,223,000. Barclays PLC boosted its holdings in Cullen/Frost Bankers by 234.5% in the third quarter. Barclays PLC now owns 436,393 shares of the bank’s stock worth $48,814,000 after acquiring an additional 305,921 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in Cullen/Frost Bankers by 13,334.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 281,860 shares of the bank’s stock worth $37,840,000 after acquiring an additional 279,762 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Cullen/Frost Bankers by 33.7% in the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank’s stock worth $130,703,000 after acquiring an additional 245,458 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Up 0.7%

Cullen/Frost Bankers stock opened at $131.32 on Friday. The stock has a market cap of $8.44 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 6.46 and a beta of 0.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64. The stock has a fifty day moving average of $119.05 and a 200 day moving average of $131.10.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.13. The business had revenue of $560.42 million during the quarter, compared to analysts’ expectations of $540.57 million. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. During the same quarter in the prior year, the business posted $2.15 earnings per share. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $1.00 dividend. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Friday, May 30th. This represents a $4.00 dividend on an annualized basis and a yield of 3.05%. Cullen/Frost Bankers’s dividend payout ratio is presently 43.91%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson bought 1,870 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average price of $16.93 per share, for a total transaction of $31,659.10. Following the completion of the transaction, the chief accounting officer now owns 5,545 shares of the company’s stock, valued at $93,876.85. This trade represents a 50.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CFR shares. Royal Bank of Canada decreased their price target on Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Morgan Stanley decreased their price target on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a research note on Thursday, March 13th. Evercore ISI upgraded Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 price target for the company in a research note on Friday, May 2nd. Barclays boosted their price target on Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, DA Davidson cut Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $138.00 to $143.00 in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $132.14.

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.