17 Capital Partners LLC Reduces Stock Position in Cullen/Frost Bankers, Inc. $CFR

17 Capital Partners LLC reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 11.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,110 shares of the bank’s stock after selling 913 shares during the period. 17 Capital Partners LLC’s holdings in Cullen/Frost Bankers were worth $914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CFR. Geode Capital Management LLC grew its holdings in Cullen/Frost Bankers by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,154,566 shares of the bank’s stock valued at $149,558,000 after buying an additional 9,332 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cullen/Frost Bankers by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,057,294 shares of the bank’s stock valued at $132,365,000 after acquiring an additional 30,709 shares during the period. Northern Trust Corp grew its stake in Cullen/Frost Bankers by 8.0% during the first quarter. Northern Trust Corp now owns 1,051,168 shares of the bank’s stock valued at $131,606,000 after acquiring an additional 77,592 shares in the last quarter. Impax Asset Management Group plc increased its holdings in Cullen/Frost Bankers by 58.7% during the 2nd quarter. Impax Asset Management Group plc now owns 822,878 shares of the bank’s stock worth $104,861,000 after acquiring an additional 304,491 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Cullen/Frost Bankers by 13.4% in the 2nd 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. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup boosted their price target on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a research report on Friday, October 31st. TD Cowen upgraded Cullen/Frost Bankers to a “strong-buy” rating in a research report on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of Cullen/Frost Bankers in a research note on Monday. Raymond James Financial lowered their price target 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. Finally, Evercore ISI boosted their price objective on Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $136.75.

Cullen/Frost Bankers Trading Up 0.7%

NYSE CFR opened at $121.33 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $125.02 and its two-hundred day simple moving average is $127.75. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $147.64. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 2.94 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, beating the consensus estimate of $2.38 by $0.29. The firm had revenue of $567.27 million for the quarter, compared to analyst estimates of $565.54 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 company earned $2.24 EPS. Research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $4.00 annualized dividend and a dividend yield of 3.3%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 41.15%.

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.