Bank of New York Mellon Corp Sells 24,229 Shares of Cullen/Frost Bankers, Inc. $CFR

Bank of New York Mellon Corp reduced its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 611,670 shares of the bank’s stock after selling 24,229 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cullen/Frost Bankers were worth $78,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CFR. Hantz Financial Services Inc. increased its position in shares of Cullen/Frost Bankers by 8,800.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 267 shares of the bank’s stock worth $34,000 after purchasing an additional 264 shares in the last quarter. eCIO Inc. acquired a new position in Cullen/Frost Bankers in the first quarter valued at about $36,000. Geneos Wealth Management Inc. grew its stake in 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 buying an additional 106 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Cullen/Frost Bankers during the first quarter worth approximately $57,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in shares of Cullen/Frost Bankers in the first quarter valued at approximately $58,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Up 1.5%

Shares of NYSE CFR opened at $125.64 on Friday. The company’s 50 day simple moving average is $125.98 and its 200 day simple moving average is $127.48. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64. The firm has a market capitalization of $8.03 billion, a P/E ratio of 13.52, a P/E/G ratio of 2.94 and a beta of 0.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.64 and a quick ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.29. The firm had revenue of $589.31 million during the quarter, compared to analyst estimates of $565.54 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 previous year, the business earned $2.24 EPS. On average, analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 dividend on an annualized basis and a dividend yield of 3.2%. Cullen/Frost Bankers’s payout ratio is 41.15%.

Wall Street Analyst Weigh In

CFR has been the subject of a number of recent analyst reports. Barclays dropped their price target on 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. Raymond James Financial lowered their target price on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. Morgan Stanley lifted their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Royal Bank Of Canada upped their price target on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Finally, TD Cowen upgraded shares of Cullen/Frost Bankers to a “strong-buy” rating in a research report on Thursday, September 25th. 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 given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $136.75.

Cullen/Frost Bankers Company 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.