Tributary Capital Management LLC Cuts Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Tributary Capital Management LLC decreased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 20.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,869 shares of the bank’s stock after selling 1,526 shares during the period. Tributary Capital Management LLC’s holdings in Cullen/Frost Bankers were worth $661,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ICA Group Wealth Management LLC purchased a new position in Cullen/Frost Bankers in the fourth quarter worth $33,000. Arvest Investments Inc. purchased a new position in Cullen/Frost Bankers in the fourth quarter worth $35,000. CWM LLC boosted its position in Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at $43,000. Finally, Parallel Advisors LLC raised its stake in shares of Cullen/Frost Bankers by 89.7% in the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of CFR traded down $0.74 during midday trading on Tuesday, reaching $100.00. The stock had a trading volume of 55,429 shares, compared to its average volume of 405,149. The company’s 50-day moving average is $102.80 and its 200 day moving average is $105.92. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $120.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.02. The company had revenue of $522.74 million during the quarter, compared to analysts’ expectations of $510.09 million. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same period in the prior year, the business posted $2.70 EPS. On average, equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.4 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio is presently 43.50%.

Wall Street Analysts Forecast Growth

CFR has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $118.00 target price on shares of Cullen/Frost Bankers in a research note on Tuesday, April 9th. Evercore ISI decreased their price objective on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 25th. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Finally, Jefferies Financial Group boosted their price objective on Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus price target of $115.69.

Cullen/Frost Bankers 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.