Cullen/Frost Bankers, Inc. $CFR Shares Sold by IFP Advisors Inc

IFP Advisors Inc lowered its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 18.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,164 shares of the bank’s stock after selling 264 shares during the quarter. IFP Advisors Inc’s holdings in Cullen/Frost Bankers were worth $150,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CFR. Callan Family Office LLC purchased a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at approximately $315,000. Louisiana State Employees Retirement System increased its holdings in Cullen/Frost Bankers by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock valued at $2,327,000 after purchasing an additional 100 shares during the last quarter. KLP Kapitalforvaltning AS raised its position in Cullen/Frost Bankers by 8.5% in the second quarter. KLP Kapitalforvaltning AS now owns 12,700 shares of the bank’s stock valued at $1,632,000 after purchasing an additional 1,000 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in Cullen/Frost Bankers by 13.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 806,752 shares of the bank’s stock worth $103,700,000 after purchasing an additional 95,225 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its position in shares of Cullen/Frost Bankers by 2.9% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 382,437 shares of the bank’s stock worth $49,159,000 after buying an additional 10,689 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $122.57 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $127.10 and a 200-day simple moving average of $125.92. The stock has a market cap of $7.88 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 2.97 and a beta of 0.71. Cullen/Frost Bankers, Inc. has a 12-month low of $100.31 and a 12-month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.11. The company had revenue of $567.83 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $2.21 earnings per share. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 29th. Cullen/Frost Bankers’s dividend payout ratio is 43.06%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen raised Cullen/Frost Bankers to a “strong-buy” rating in a research note on Thursday, September 25th. Raymond James Financial reduced their price target on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, August 4th. Barclays cut their target price on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. Royal Bank Of Canada increased their target price on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and an average target price of $137.62.

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.