Cullen/Frost Bankers, Inc. $CFR Shares Sold by Sovran Advisors LLC

Sovran Advisors LLC lowered its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.7% in the second quarter, Holdings Channel reports. The institutional investor owned 6,820 shares of the bank’s stock after selling 187 shares during the quarter. Sovran Advisors LLC’s holdings in Cullen/Frost Bankers were worth $931,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CFR. Alpine Bank Wealth Management acquired a new position in Cullen/Frost Bankers in the first quarter worth $30,000. eCIO Inc. acquired a new position in Cullen/Frost Bankers in the first quarter worth $36,000. Geneos Wealth Management Inc. boosted its holdings in Cullen/Frost Bankers by 40.8% in 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 period. UMB Bank n.a. boosted its holdings in Cullen/Frost Bankers by 59.6% in the first quarter. UMB Bank n.a. now owns 391 shares of the bank’s stock worth $49,000 after purchasing an additional 146 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Cullen/Frost Bankers in the first quarter worth $57,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

CFR stock opened at $128.77 on Friday. The company has a market capitalization of $8.28 billion, a P/E ratio of 13.86, a PEG ratio of 2.65 and a beta of 0.74. The company has a 50-day simple moving average of $129.66 and a 200 day simple moving average of $125.72. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64. The company has a quick ratio of 0.64, a current 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, July 31st. The bank reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.11. The business had revenue of $567.83 million during the quarter, compared to the consensus estimate of $552.04 million. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. During the same quarter in the prior year, the company posted $2.21 earnings per share. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $1.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 3.1%. Cullen/Frost Bankers’s payout ratio is 43.06%.

Wall Street Analyst Weigh In

A number of research firms have commented on CFR. Barclays decreased their price objective on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Cantor Fitzgerald began coverage on shares of Cullen/Frost Bankers in a report on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 price objective for the company. Finally, Raymond James Financial decreased their price objective on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $134.00.

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.