LPL Financial LLC Trims Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

LPL Financial LLC decreased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,833 shares of the bank’s stock after selling 12,836 shares during the quarter. LPL Financial LLC’s holdings in Cullen/Frost Bankers were worth $8,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CFR. Arizona State Retirement System boosted its stake in Cullen/Frost Bankers by 0.4% in the 4th quarter. Arizona State Retirement System now owns 17,651 shares of the bank’s stock worth $2,370,000 after buying an additional 74 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Cullen/Frost Bankers by 3.7% during the 4th quarter. Ballentine Partners LLC now owns 2,164 shares of the bank’s stock valued at $291,000 after buying an additional 77 shares during the period. UMB Bank n.a. increased its holdings in shares of Cullen/Frost Bankers by 45.8% during the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock worth $33,000 after buying an additional 77 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Cullen/Frost Bankers by 4.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,187 shares of the bank’s stock worth $294,000 after buying an additional 89 shares during the period. Finally, First Dallas Securities Inc. boosted its holdings in Cullen/Frost Bankers by 2.5% in the fourth quarter. First Dallas Securities Inc. now owns 4,028 shares of the bank’s stock valued at $541,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 4.5 %

Shares of CFR opened at $106.68 on Friday. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64. The stock has a 50-day moving average price of $132.13 and a 200 day moving average price of $131.20. 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 capitalization of $6.86 billion, a P/E ratio of 12.03, a P/E/G ratio of 6.46 and a beta of 0.82.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. Sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

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

Analyst Ratings Changes

CFR has been the subject of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $144.00 price target on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. Morgan Stanley cut 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 report on Thursday, March 13th. DA Davidson lowered shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $138.00 to $143.00 in a research report on Monday, February 3rd. Barclays began coverage on shares of Cullen/Frost Bankers in a research note on Tuesday. They issued an “equal weight” rating and a $130.00 target price on the stock. Finally, Compass Point upped their price target on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $132.57.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the transaction, the insider now owns 102,946 shares of the company’s stock, valued at $14,355,819.70. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

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.