Cullen/Frost Bankers, Inc. $CFR Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC decreased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,438 shares of the bank’s stock after selling 710 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $3,270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its stake in Cullen/Frost Bankers by 8,800.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 267 shares of the bank’s stock valued at $34,000 after purchasing an additional 264 shares during the last quarter. eCIO Inc. purchased a new position in Cullen/Frost Bankers during the 1st quarter worth approximately $36,000. Geneos Wealth Management Inc. raised its holdings in shares of Cullen/Frost Bankers by 40.8% during the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock worth $46,000 after purchasing an additional 106 shares during the last quarter. MAI Capital Management lifted its position in Cullen/Frost Bankers by 171.0% during the second quarter. MAI Capital Management now owns 393 shares of the bank’s stock valued at $51,000 after purchasing an additional 248 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at about $57,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $123.52 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. The company has a fifty day moving average of $124.71 and a two-hundred day moving average of $127.76. The stock has a market capitalization of $7.90 billion, a PE ratio of 13.30, a P/E/G ratio of 2.94 and a beta of 0.74. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.29. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The business had revenue of $567.27 million for the quarter, compared to analyst estimates of $565.54 million. During the same quarter last year, the business earned $2.24 earnings per share. As a group, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Raymond James Financial reduced their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, August 4th. Citigroup boosted their target price on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a research note on Friday, October 31st. Morgan Stanley raised their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a report on Thursday, September 25th. Finally, Evercore ISI upped their price objective on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.