Cullen/Frost Bankers, Inc. $CFR Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,771 shares of the bank’s stock after selling 129 shares during the period. Park Avenue Securities LLC’s holdings in Cullen/Frost Bankers were worth $356,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CFR. Bayforest Capital Ltd bought a new position in Cullen/Frost Bankers during the first quarter valued at about $241,000. State of Alaska Department of Revenue boosted its stake in Cullen/Frost Bankers by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank’s stock valued at $942,000 after buying an additional 210 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Cullen/Frost Bankers by 55.9% during the first quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank’s stock valued at $2,264,000 after buying an additional 6,484 shares in the last quarter. Norden Group LLC bought a new position in Cullen/Frost Bankers during the first quarter valued at about $214,000. Finally, UMB Bank n.a. boosted its stake 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 buying an additional 146 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley raised their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a research note on Monday. Raymond James Financial decreased their target price on 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. TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a research note on Thursday, September 25th. Barclays decreased their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Finally, Evercore ISI raised their target price on Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.31.

Cullen/Frost Bankers Trading Down 0.5%

NYSE:CFR opened at $126.67 on Wednesday. The stock has a fifty day simple moving average of $128.04 and a 200 day simple moving average of $125.77. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 2.67 and a beta of 0.74. 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 1-year low of $100.31 and a 1-year high of $147.64.

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

Cullen/Frost Bankers Dividend Announcement

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

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.