Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lessened its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 74.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 344 shares of the bank’s stock after selling 1,009 shares during the period. Harbor Capital Advisors Inc.’s holdings in Cullen/Frost Bankers were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CFR. Blue Trust Inc. increased its position in shares of Cullen/Frost Bankers by 239.0% in the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after buying an additional 239 shares in the last quarter. UMB Bank n.a. grew its stake in Cullen/Frost Bankers by 59.6% in the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock valued at $49,000 after acquiring an additional 146 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Cullen/Frost Bankers by 35.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank’s stock worth $62,000 after acquiring an additional 120 shares in the last quarter. Parallel Advisors LLC raised its position in Cullen/Frost Bankers by 33.8% during the first quarter. Parallel Advisors LLC now owns 522 shares of the bank’s stock worth $65,000 after acquiring an additional 132 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Cullen/Frost Bankers during the fourth quarter worth $106,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson purchased 1,870 shares of the stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $16.93 per share, for a total transaction of $31,659.10. Following the acquisition, the chief accounting officer now owns 5,545 shares in the company, valued at $93,876.85. This trade represents a 50.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Down 2.2%

Shares of NYSE:CFR opened at $123.79 on Monday. Cullen/Frost Bankers, Inc. has a 52-week low of $94.55 and a 52-week high of $147.64. The stock has a market cap of $7.96 billion, a P/E ratio of 13.96, a PEG ratio of 6.46 and a beta of 0.68. The business has a fifty day moving average of $121.98 and a two-hundred day moving average of $129.65. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, May 1st. The bank reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.13. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. The firm had revenue of $560.42 million during the quarter, compared to analyst estimates of $540.57 million. During the same quarter in the prior year, the firm posted $2.15 earnings per share. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.23%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.95. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 43.91%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CFR. Royal Bank of Canada dropped their target price on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Evercore ISI upgraded Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 price objective for the company in a research note on Friday, May 2nd. Jefferies Financial Group started coverage on Cullen/Frost Bankers in a report on Wednesday, May 21st. They set an “underperform” rating and a $105.00 target price for the company. Stephens lifted their price target on Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, Morgan Stanley dropped their price target on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $131.93.

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.