Cullen/Frost Bankers, Inc. $CFR Stock: King Luther Capital Management Corp Lowers Position

King Luther Capital Management Corp reduced its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,164,981 shares of the bank’s stock after selling 81,094 shares during the period. King Luther Capital Management Corp’s holdings in Cullen/Frost Bankers were worth $177,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. acquired a new position in Cullen/Frost Bankers during the second quarter worth $1,133,453,000. State Street Corp grew its position in shares of Cullen/Frost Bankers by 3.8% in the second quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock valued at $497,292,000 after purchasing an additional 118,313 shares during the period. First Eagle Investment Management LLC grew its position in shares of Cullen/Frost Bankers by 22.6% in the second quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank’s stock valued at $429,204,000 after purchasing an additional 511,784 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Cullen/Frost Bankers by 18.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock valued at $209,833,000 after purchasing an additional 236,808 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Cullen/Frost Bankers by 11.8% during the first quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock worth $165,966,000 after purchasing an additional 127,483 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Down 0.0%

Shares of NYSE CFR opened at $158.12 on Thursday. The stock has a market cap of $9.83 billion, a P/E ratio of 14.71, a PEG ratio of 1.69 and a beta of 0.52. The business’s fifty day simple moving average is $157.12 and its 200-day simple moving average is $149.60. Cullen/Frost Bankers, Inc. has a 12-month low of $119.14 and a 12-month high of $170.80. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 29th. The bank reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Cullen/Frost Bankers had a return on equity of 16.27% and a net margin of 23.37%. The firm had revenue of $603.83 million during the quarter, compared to analysts’ expectations of $610.19 million. During the same period in the previous year, the firm posted $2.67 EPS. As a group, equities analysts predict that Cullen/Frost Bankers, Inc. will post 11.02 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, November 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 38.33%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 2,406 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $157.10, for a total transaction of $377,982.60. Following the sale, the executive vice president directly owned 28,406 shares in the company, valued at approximately $4,462,582.60. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Bracher sold 2,900 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $158.24, for a total transaction of $458,896.00. Following the completion of the sale, the insider directly owned 108,736 shares in the company, valued at approximately $17,206,384.64. This trade represents a 2.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,840 shares of company stock valued at $922,169. 1.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CFR. Wall Street Zen upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. TD Cowen lowered their price objective on Cullen/Frost Bankers from $185.00 to $178.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Stephens upped their target price on Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a report on Friday, July 31st. DA Davidson raised their price target on shares of Cullen/Frost Bankers from $164.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cullen/Frost Bankers in a research report on Tuesday, October 13th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $171.55.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc. is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and other financial services to individuals and businesses. Frost Bank’s services include consumer and commercial banking, lending, treasury management, and wealth management, including trust and investment services. The company primarily serves customers across Texas through its branches and digital banking channels. The company traces its roots to 1868, when Thomas Claiborne Frost established a mercantile business in San Antonio; banking became part of the business later in the 19th century.