Ethic Inc. Cuts Position in Cullen/Frost Bankers, Inc. $CFR

Ethic Inc. cut its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 19.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,523 shares of the bank’s stock after selling 839 shares during the quarter. Ethic Inc.’s holdings in Cullen/Frost Bankers were worth $454,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. eCIO Inc. acquired a new stake in Cullen/Frost Bankers during the 1st quarter worth about $36,000. Geneos Wealth Management Inc. increased its stake in shares of Cullen/Frost Bankers by 40.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after purchasing an additional 106 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at about $57,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at about $58,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in Cullen/Frost Bankers during the 2nd quarter worth approximately $75,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, October 8th. Raymond James Financial decreased their price objective on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, August 4th. Barclays cut their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Royal Bank Of Canada boosted their target price on Cullen/Frost Bankers from $140.00 to $144.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Finally, Cantor Fitzgerald began coverage on Cullen/Frost Bankers in a research report on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $137.62.

Cullen/Frost Bankers Stock Down 1.6%

Cullen/Frost Bankers stock opened at $123.26 on Wednesday. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $147.64. The stock’s fifty day simple moving average is $127.01 and its 200-day simple moving average is $126.79. 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 market capitalization of $7.93 billion, a P/E ratio of 13.27, a P/E/G ratio of 3.04 and a beta of 0.71.

Cullen/Frost Bankers (NYSE:CFR) last posted 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 return on equity of 15.46% and a net margin of 21.20%.The business had revenue of $567.83 million for the quarter, compared to analyst estimates of $552.04 million. During the same quarter in the prior year, the company earned $2.21 earnings per share. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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