Victory Capital Management Inc. Trims Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Victory Capital Management Inc. cut its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,600 shares of the bank’s stock after selling 176 shares during the quarter. Victory Capital Management Inc.’s holdings in Cullen/Frost Bankers were worth $1,557,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tidal Investments LLC grew its stake in shares of Cullen/Frost Bankers by 30.3% during the 3rd quarter. Tidal Investments LLC now owns 18,689 shares of the bank’s stock valued at $2,091,000 after acquiring an additional 4,348 shares during the period. Pathstone Holdings LLC grew its stake in shares of Cullen/Frost Bankers by 45.0% during the 3rd quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock valued at $2,156,000 after acquiring an additional 5,981 shares during the period. Barclays PLC grew its stake in shares of Cullen/Frost Bankers by 234.5% during the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank’s stock valued at $48,814,000 after acquiring an additional 305,921 shares during the period. Hancock Whitney Corp bought a new position in shares of Cullen/Frost Bankers during the 3rd quarter valued at approximately $784,000. Finally, Entropy Technologies LP bought a new position in shares of Cullen/Frost Bankers during the 4th quarter valued at approximately $389,000. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Paul Bracher sold 11,500 shares of Cullen/Frost Bankers stock in a transaction on Friday, January 31st. The stock was sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the completion of the sale, the insider now directly owns 102,946 shares in the company, valued at approximately $14,355,819.70. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.89% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CFR has been the subject of several recent analyst reports. Morgan Stanley dropped their price target on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a research note on Thursday, March 13th. DA Davidson downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and upped their price target for the stock from $138.00 to $143.00 in a research note on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Evercore ISI upped their price target on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $144.00 price target on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus target price of $132.77.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $122.64 on Wednesday. The firm has a market capitalization of $7.88 billion, a PE ratio of 13.83, a PEG ratio of 6.46 and a beta of 0.97. The stock’s fifty day moving average is $136.57 and its 200 day moving average is $130.33. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. On average, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.95 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $3.80 dividend on an annualized basis and a yield of 3.10%. Cullen/Frost Bankers’s dividend payout ratio is presently 42.84%.

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.