Envestnet Asset Management Inc. Sells 7,938 Shares of Cullen/Frost Bankers, Inc. $CFR

Envestnet Asset Management Inc. trimmed its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,334 shares of the bank’s stock after selling 7,938 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.40% of Cullen/Frost Bankers worth $32,821,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Teacher Retirement System of Texas boosted its position in shares of Cullen/Frost Bankers by 9.4% during the 1st quarter. Teacher Retirement System of Texas now owns 14,432 shares of the bank’s stock valued at $1,807,000 after acquiring an additional 1,236 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Cullen/Frost Bankers by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 635,899 shares of the bank’s stock valued at $79,615,000 after acquiring an additional 24,177 shares during the last quarter. Garrett Wealth Advisory Group LLC bought a new stake in Cullen/Frost Bankers in the first quarter worth $212,000. Bridges Investment Management Inc. bought a new stake in Cullen/Frost Bankers in the first quarter worth $219,000. Finally, Alps Advisors Inc. purchased a new stake in Cullen/Frost Bankers in the first quarter worth $362,000. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Down 0.2%

Shares of CFR stock opened at $123.18 on Monday. The stock has a market cap of $7.92 billion, a P/E ratio of 13.26, a P/E/G ratio of 2.94 and a beta of 0.71. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $147.64. The stock has a 50 day moving average of $126.70 and a 200 day moving average of $127.17. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.29. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.The business had revenue of $589.31 million during the quarter, compared to analysts’ expectations of $565.54 million. During the same period in the previous year, the business earned $2.24 earnings per share. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, November 28th. Cullen/Frost Bankers’s payout ratio is presently 41.15%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CFR. Evercore ISI raised their price target on Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cullen/Frost Bankers in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price objective 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. Raymond James Financial lowered their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, August 4th. Finally, Citigroup raised their price target on Cullen/Frost Bankers from $112.00 to $114.00 and gave the stock a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $136.75.

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.