Titleist Asset Management LLC Boosts Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Titleist Asset Management LLC increased its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 22.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,282 shares of the bank’s stock after purchasing an additional 973 shares during the quarter. Titleist Asset Management LLC’s holdings in Cullen/Frost Bankers were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CFR. Wilmington Savings Fund Society FSB bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $29,000. UMB Bank n.a. boosted its holdings in Cullen/Frost Bankers by 45.8% in the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after acquiring an additional 77 shares in the last quarter. Blue Trust Inc. boosted its holdings in Cullen/Frost Bankers by 239.0% in the fourth quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after acquiring an additional 239 shares in the last quarter. Quarry LP increased its position in Cullen/Frost Bankers by 134.2% during the 3rd quarter. Quarry LP now owns 541 shares of the bank’s stock valued at $61,000 after purchasing an additional 310 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Cullen/Frost Bankers by 35.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank’s stock worth $62,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

CFR has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating on the stock in a research report on Thursday, March 13th. Barclays started coverage on Cullen/Frost Bankers in a report on Tuesday, April 1st. They set an “equal weight” rating and a $130.00 target price on the stock. Evercore ISI raised their target price on Cullen/Frost Bankers from $136.00 to $144.00 and gave the company an “underperform” rating in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $144.00 price target on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their price objective on Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $132.57.

Cullen/Frost Bankers Trading Down 4.5 %

Shares of NYSE CFR opened at $106.68 on Monday. The firm’s 50 day moving average price is $132.13 and its 200-day moving average price is $131.48. Cullen/Frost Bankers, Inc. has a 52-week low of $94.09 and a 52-week high of $147.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $6.86 billion, a PE ratio of 12.03, a P/E/G ratio of 6.46 and a beta of 0.82.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $3.80 annualized dividend and a yield of 3.56%. Cullen/Frost Bankers’s payout ratio is 42.84%.

Insiders Place Their Bets

In related news, insider Paul Bracher sold 11,500 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the sale, the insider now owns 102,946 shares in the company, valued at approximately $14,355,819.70. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

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.