Cullen/Frost Bankers, Inc. $CFR Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 38.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,457 shares of the bank’s stock after selling 4,685 shares during the period. Allianz Asset Management GmbH’s holdings in Cullen/Frost Bankers were worth $959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CFR. GAMMA Investing LLC raised its holdings in Cullen/Frost Bankers by 877.5% in the 1st quarter. GAMMA Investing LLC now owns 8,035 shares of the bank’s stock valued at $1,006,000 after buying an additional 7,213 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Cullen/Frost Bankers by 1.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,682 shares of the bank’s stock valued at $962,000 after purchasing an additional 134 shares during the last quarter. Sovran Advisors LLC increased its holdings in Cullen/Frost Bankers by 66.8% in the 1st quarter. Sovran Advisors LLC now owns 7,007 shares of the bank’s stock valued at $877,000 after purchasing an additional 2,807 shares during the last quarter. Avidian Wealth Enterprises LLC increased its holdings in Cullen/Frost Bankers by 41.7% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 3,425 shares of the bank’s stock valued at $429,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Cullen/Frost Bankers by 9.4% in the 1st quarter. Teacher Retirement System of Texas now owns 14,432 shares of the bank’s stock valued at $1,807,000 after purchasing an additional 1,236 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CFR. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cullen/Frost Bankers in a report on Wednesday, October 8th. Evercore ISI lifted their target price on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Barclays dropped their target price 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, August 1st. Morgan Stanley boosted their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Finally, Cantor Fitzgerald assumed coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $137.62.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $124.97 on Monday. 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 firm has a fifty day moving average price of $127.06 and a 200 day moving average price of $126.60. The company has a market cap of $8.04 billion, a P/E ratio of 13.45, a PEG ratio of 3.03 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 issued its earnings results on Thursday, July 31st. The bank reported $2.39 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 21.20% and a return on equity of 15.46%. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

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

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.