Cullen/Frost Bankers, Inc. $CFR Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,671 shares of the bank’s stock after selling 1,589 shares during the quarter. Bank of Montreal Can’s holdings in Cullen/Frost Bankers were worth $2,143,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of Cullen/Frost Bankers by 61.6% in the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after purchasing an additional 230,993 shares during the period. Nuveen LLC acquired a new position in Cullen/Frost Bankers in the 1st quarter worth $12,885,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Cullen/Frost Bankers in the 1st quarter valued at about $12,169,000. Vaughan Nelson Investment Management L.P. boosted its position in Cullen/Frost Bankers by 13.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 806,752 shares of the bank’s stock valued at $103,700,000 after buying an additional 95,225 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Cullen/Frost Bankers by 8.0% during the first quarter. Northern Trust Corp now owns 1,051,168 shares of the bank’s stock valued at $131,606,000 after acquiring an additional 77,592 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Down 0.6%

Shares of NYSE:CFR opened at $124.20 on Thursday. The company’s fifty day moving average is $125.71 and its two-hundred day moving average is $127.67. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $147.64. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.94 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, October 30th. The bank reported $2.67 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 $589.31 million during the quarter, compared to analyst estimates of $565.54 million. During the same period in the previous year, the business posted $2.24 EPS. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on CFR shares. Evercore ISI boosted their price target on Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Barclays reduced their target price on Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Raymond James Financial dropped their price target on shares of 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. Citigroup upped their price target on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cullen/Frost Bankers in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $136.75.

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.