Cullen/Frost Bankers, Inc. $CFR Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC trimmed its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,438 shares of the bank’s stock after selling 710 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $3,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M.E. Allison & CO. Inc. boosted its position in shares of Cullen/Frost Bankers by 35.1% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 8,734 shares of the bank’s stock valued at $1,123,000 after acquiring an additional 2,270 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in Cullen/Frost Bankers in the 1st quarter valued at about $241,000. Victory Capital Management Inc. raised its stake in shares of Cullen/Frost Bankers by 55.9% in the 1st quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank’s stock valued at $2,264,000 after acquiring an additional 6,484 shares during the period. Norden Group LLC acquired a new position in shares of Cullen/Frost Bankers in the 1st quarter worth approximately $214,000. Finally, HB Wealth Management LLC boosted its position in shares of Cullen/Frost Bankers by 18.9% during the 2nd quarter. HB Wealth Management LLC now owns 2,255 shares of the bank’s stock worth $290,000 after purchasing an additional 358 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $123.52 on Tuesday. 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, Inc. has a 52 week low of $100.31 and a 52 week high of $147.64. The firm’s 50 day moving average is $124.71 and its two-hundred day moving average is $127.76. The firm has a market capitalization of $7.90 billion, a P/E ratio of 13.30, a P/E/G ratio of 2.94 and a beta of 0.74.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.29. The business had revenue of $567.27 million during the quarter, compared to analysts’ expectations 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 prior year, the business posted $2.24 EPS. Research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a $1.00 dividend. 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 dividend payout ratio is 41.15%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CFR. Weiss Ratings reissued a “hold (c)” rating on shares of Cullen/Frost Bankers in a research report on Monday, November 17th. 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. Citigroup upped their target price on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the stock a “sell” rating in a research note on Friday, October 31st. Evercore ISI upped their price target on Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Finally, Royal Bank Of Canada raised their target price on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the company a “sector perform” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.