Cullen/Frost Bankers, Inc. $CFR Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,264 shares of the bank’s stock after selling 112 shares during the period. Fifth Third Bancorp owned 0.06% of Cullen/Frost Bankers worth $5,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CFR. GAMMA Investing LLC raised its position in shares of Cullen/Frost Bankers by 122,282.2% in the first quarter. GAMMA Investing LLC now owns 1,005,982 shares of the bank’s stock valued at $125,949,000 after buying an additional 1,005,160 shares during the last quarter. Impax Asset Management Group plc increased its position in Cullen/Frost Bankers by 350.8% during the first quarter. Impax Asset Management Group plc now owns 518,387 shares of the bank’s stock worth $64,359,000 after purchasing an additional 403,387 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Cullen/Frost Bankers by 61.6% during the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock worth $75,833,000 after purchasing an additional 230,993 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Cullen/Frost Bankers by 19.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 711,527 shares of the bank’s stock worth $89,083,000 after purchasing an additional 114,910 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Cullen/Frost Bankers during the first quarter worth about $12,885,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Up 2.1%

Shares of Cullen/Frost Bankers stock opened at $128.20 on Friday. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $147.64. The company has a 50 day moving average of $128.66 and a 200 day moving average of $125.63. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $8.25 billion, a P/E ratio of 13.80, a P/E/G ratio of 2.64 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $2.21 earnings per share. As a group, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, August 29th. Cullen/Frost Bankers’s payout ratio is presently 43.06%.

Analysts Set New Price Targets

Several research firms recently issued reports on CFR. Barclays cut their price objective on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Cantor Fitzgerald started coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, September 10th. They set a “neutral” rating and a $138.00 price objective for the company. Finally, Raymond James Financial lowered their target price on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $135.69.

About Cullen/Frost Bankers

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.