Victory Capital Management Inc. Sells 360 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Victory Capital Management Inc. lowered its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,849 shares of the bank’s stock after selling 360 shares during the quarter. Victory Capital Management Inc.’s holdings in Cullen/Frost Bankers were worth $1,306,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Cullen/Frost Bankers by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock valued at $695,729,000 after acquiring an additional 19,755 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after acquiring an additional 495,215 shares in the last quarter. Janus Henderson Group PLC increased its stake in Cullen/Frost Bankers by 18.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after purchasing an additional 161,580 shares in the last quarter. Principal Financial Group Inc. increased its stake in Cullen/Frost Bankers by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock valued at $92,432,000 after purchasing an additional 12,897 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Cullen/Frost Bankers by 44.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after purchasing an additional 244,197 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CFR. JPMorgan Chase & Co. decreased their price target on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Wedbush boosted their price target on shares of Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Jefferies Financial Group decreased their price target on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. DA Davidson boosted their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Maxim Group boosted their price target on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $119.93.

Insider Buying and Selling

In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now directly owns 1,598 shares in the company, valued at $190,481.60. The disclosure for this sale can be found here. 2.89% of the stock is owned by insiders.

Cullen/Frost Bankers Price Performance

CFR opened at $115.58 on Friday. The firm’s fifty day moving average price is $110.57 and its two-hundred day moving average price is $106.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 1 year low of $82.25 and a 1 year high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. The company had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same period in the previous year, the firm earned $2.47 EPS. As a group, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.95 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Friday, August 30th. Cullen/Frost Bankers’s payout ratio is 44.92%.

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.