Probity Advisors Inc. Has $462,000 Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Probity Advisors Inc. trimmed its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,689 shares of the bank’s stock after selling 166 shares during the period. Probity Advisors Inc.’s holdings in Cullen/Frost Bankers were worth $462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CFR. Alpine Bank Wealth Management acquired a new position in Cullen/Frost Bankers during the first quarter valued at approximately $30,000. UMB Bank n.a. raised its position in Cullen/Frost Bankers by 59.6% during the first quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock valued at $49,000 after purchasing an additional 146 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 valued at $65,000 after purchasing an additional 132 shares in the last quarter. Reyes Financial Architecture Inc. raised its position in Cullen/Frost Bankers by 38.5% during the first quarter. Reyes Financial Architecture Inc. now owns 1,273 shares of the bank’s stock valued at $159,000 after purchasing an additional 354 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in Cullen/Frost Bankers during the fourth quarter valued at approximately $204,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $123.99 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $147.64. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 2.63 and a beta of 0.70. The company’s fifty day moving average is $130.84 and its 200 day moving average is $128.63.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The company had revenue of $567.83 million for the quarter, compared to analysts’ expectations of $552.04 million. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. Cullen/Frost Bankers’s payout ratio is currently 43.06%.

Analyst Upgrades and Downgrades

CFR has been the subject of several research analyst reports. Royal Bank Of Canada lowered their price objective on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Jefferies Financial Group initiated coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, May 21st. They set an “underperform” rating and a $105.00 target price on the stock. Stephens upped their price target on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Evercore ISI upgraded shares of Cullen/Frost Bankers from an “underperform” rating to an “in-line” rating and set a $132.00 price target for the company in a report on Friday, May 2nd. Finally, Barclays lowered their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $134.07.

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.