KBC Group NV Reduces Holdings in Cullen/Frost Bankers, Inc. $CFR

KBC Group NV reduced its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 31.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,698 shares of the bank’s stock after selling 762 shares during the quarter. KBC Group NV’s holdings in Cullen/Frost Bankers were worth $218,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its position in shares of Cullen/Frost Bankers by 30.5% in the second quarter. ProShare Advisors LLC now owns 287,750 shares of the bank’s stock valued at $36,987,000 after buying an additional 67,179 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cullen/Frost Bankers during the second quarter worth about $441,000. Princeton Capital Management LLC purchased a new stake in Cullen/Frost Bankers during the 2nd quarter valued at about $257,000. EFG Asset Management North America Corp. acquired a new stake in Cullen/Frost Bankers in the 2nd quarter valued at about $2,515,000. Finally, State of Michigan Retirement System raised its holdings in Cullen/Frost Bankers by 0.7% in the 2nd quarter. State of Michigan Retirement System now owns 15,464 shares of the bank’s stock valued at $1,988,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $120.64 on Wednesday. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $147.64. The stock’s fifty day moving average is $125.12 and its two-hundred day moving average is $127.80. The company has a market capitalization of $7.71 billion, a P/E ratio of 12.99, a P/E/G ratio of 2.94 and a beta of 0.74. 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 (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.29. The firm had revenue of $567.27 million during the quarter, compared to the consensus estimate of $565.54 million. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.During the same period last year, the company earned $2.24 EPS. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, November 28th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.3%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 41.15%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CFR shares. Citigroup boosted their target price on Cullen/Frost Bankers from $112.00 to $114.00 and gave the stock a “sell” rating in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Cullen/Frost Bankers in a research note on Monday. Cantor Fitzgerald began coverage on Cullen/Frost Bankers in a report on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 target price for the company. Evercore ISI lifted 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, Barclays dropped their price objective on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.