Swiss National Bank Sells 1,500 Shares of Cullen/Frost Bankers, Inc. $CFR

Swiss National Bank lessened its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 116,600 shares of the bank’s stock after selling 1,500 shares during the quarter. Swiss National Bank owned 0.18% of Cullen/Frost Bankers worth $14,988,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CFR. Hantz Financial Services Inc. raised its position in Cullen/Frost Bankers by 8,800.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 267 shares of the bank’s stock worth $34,000 after buying an additional 264 shares during the last quarter. eCIO Inc. purchased a new stake in shares of Cullen/Frost Bankers during the first quarter worth about $36,000. Geneos Wealth Management Inc. raised its holdings in shares of Cullen/Frost Bankers by 40.8% during the first quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after acquiring an additional 106 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Cullen/Frost Bankers in the 1st quarter valued at $57,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in shares of Cullen/Frost Bankers in the first quarter worth about $58,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Raymond James Financial dropped their price target on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. Evercore ISI boosted their price objective on Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Royal Bank Of Canada upped their price objective on Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Citigroup increased their target price on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a research report on Friday, October 31st. Finally, Barclays decreased their price target on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average target price of $136.75.

Cullen/Frost Bankers Stock Down 0.4%

CFR opened at $124.79 on Thursday. The business’s fifty day simple moving average is $124.67 and its 200 day simple moving average is $127.74. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05. The firm has a market cap of $7.98 billion, a P/E ratio of 13.43, a PEG ratio of 2.94 and a beta of 0.74. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $146.44.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results 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. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The firm had revenue of $567.27 million for the quarter, compared to analyst estimates of $565.54 million. During the same quarter last year, the business earned $2.24 earnings per share. As a group, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, November 28th. Cullen/Frost Bankers’s payout ratio is presently 41.15%.

About Cullen/Frost Bankers

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.