Rafferty Asset Management LLC lowered its position in Cullen/Frost Bankers Inc. (NYSE:CFR) by 88.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,009 shares of the company’s stock after selling 44,383 shares during the period. Rafferty Asset Management LLC’s holdings in Cullen/Frost Bankers were worth $383,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Cullen/Frost Bankers by 23.6% in the first quarter. State Street Corp now owns 6,959,482 shares of the company’s stock worth $383,537,000 after buying an additional 1,327,149 shares in the last quarter. Champlain Investment Partners LLC boosted its position in Cullen/Frost Bankers by 4.9% in the first quarter. Champlain Investment Partners LLC now owns 879,045 shares of the company’s stock worth $48,444,000 after buying an additional 41,360 shares in the last quarter. Coho Partners Ltd. boosted its position in Cullen/Frost Bankers by 9.2% in the second quarter. Coho Partners Ltd. now owns 856,209 shares of the company’s stock worth $54,566,000 after buying an additional 72,018 shares in the last quarter. Wellington Management Group LLP boosted its position in Cullen/Frost Bankers by 12.7% in the first quarter. Wellington Management Group LLP now owns 599,782 shares of the company’s stock worth $33,053,000 after buying an additional 67,792 shares in the last quarter. Finally, Kempen Capital Management N.V. boosted its position in Cullen/Frost Bankers by 8.5% in the first quarter. Kempen Capital Management N.V. now owns 385,250 shares of the company’s stock worth $21,231,000 after buying an additional 30,150 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Shares of Cullen/Frost Bankers Inc. (NYSE:CFR) traded up 0.50% on Monday, reaching $69.87. 105,316 shares of the company traded hands. The stock’s 50 day moving average price is $70.38 and its 200-day moving average price is $63.43. Cullen/Frost Bankers Inc. has a one year low of $42.41 and a one year high of $73.99. The stock has a market capitalization of $4.34 billion, a P/E ratio of 16.51 and a beta of 1.13.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a net margin of 24.81% and a return on equity of 9.67%. During the same quarter last year, the firm earned $1.11 earnings per share. Equities analysts forecast that Cullen/Frost Bankers Inc. will post $4.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.54 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.11%. Cullen/Frost Bankers’s payout ratio is 50.82%.

A number of equities analysts recently issued reports on CFR shares. Jefferies Group upped their price objective on shares of Cullen/Frost Bankers from $61.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. Royal Bank Of Canada upped their price target on shares of Cullen/Frost Bankers from $63.00 to $70.00 and gave the company a “sector perform” rating in a research report on Thursday, July 28th. Vetr cut shares of Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price target for the company. in a research report on Tuesday, June 28th. JPMorgan Chase & Co. upped their price target on shares of Cullen/Frost Bankers from $55.00 to $58.00 and gave the company an “underweight” rating in a research report on Thursday, July 7th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $70.00 price target (up from $63.00) on shares of Cullen/Frost Bankers in a research report on Thursday, July 28th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $66.38.

In related news, insider Richard Kardys sold 25,500 shares of Cullen/Frost Bankers stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $69.54, for a total value of $1,773,270.00. Following the transaction, the insider now directly owns 128,078 shares of the company’s stock, valued at $8,906,544.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack A. Wood sold 2,000 shares of Cullen/Frost Bankers stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $73.14, for a total transaction of $146,280.00. The disclosure for this sale can be found here. 8.03% of the stock is currently owned by insiders.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.

5 Day Chart for NYSE:CFR

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