Prospera Financial Services Inc lessened its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 30.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,253 shares of the bank’s stock after selling 989 shares during the quarter. Prospera Financial Services Inc’s holdings in Cullen/Frost Bankers were worth $312,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. Arizona State Retirement System lifted its holdings in Cullen/Frost Bankers by 0.5% in the first quarter. Arizona State Retirement System now owns 16,362 shares of the bank’s stock valued at $2,265,000 after acquiring an additional 87 shares during the period. Hilton Capital Management LLC lifted its holdings in Cullen/Frost Bankers by 4.7% in the fourth quarter. Hilton Capital Management LLC now owns 2,055 shares of the bank’s stock valued at $259,000 after acquiring an additional 93 shares during the period. Bank of Montreal Can lifted its holdings in Cullen/Frost Bankers by 0.9% in the fourth quarter. Bank of Montreal Can now owns 15,428 shares of the bank’s stock valued at $1,970,000 after acquiring an additional 134 shares during the period. Telemus Capital LLC lifted its holdings in Cullen/Frost Bankers by 2.5% in the fourth quarter. Telemus Capital LLC now owns 6,606 shares of the bank’s stock valued at $833,000 after acquiring an additional 158 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cullen/Frost Bankers by 2.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,953 shares of the bank’s stock valued at $1,101,000 after acquiring an additional 179 shares during the period. Institutional investors and hedge funds own 81.69% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on CFR shares. Compass Point raised Cullen/Frost Bankers from a “sell” rating to a “neutral” rating and set a $128.00 price target for the company in a report on Wednesday, July 13th. JPMorgan Chase & Co. upgraded Cullen/Frost Bankers from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $143.00 to $155.00 in a research report on Wednesday, June 15th. Stephens boosted their price objective on Cullen/Frost Bankers from $133.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday. Wolfe Research cut their price objective on Cullen/Frost Bankers from $161.00 to $132.00 and set an “outperform” rating for the company in a research report on Thursday, May 26th. Finally, Bank of America upgraded Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating and set a $144.00 price objective for the company in a research report on Friday, April 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus target price of $137.75.
Cullen/Frost Bankers Stock Down 1.1 %
Cullen/Frost Bankers (NYSE:CFR – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The bank reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Cullen/Frost Bankers had a return on equity of 11.13% and a net margin of 29.19%. During the same quarter last year, the company earned $1.80 EPS. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 7.85 earnings per share for the current fiscal year.
Cullen/Frost Bankers Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.48 dividend on an annualized basis and a yield of 2.68%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.75. Cullen/Frost Bankers’s payout ratio is 46.08%.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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