Zurich Insurance Group Ltd FI reduced its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 54.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,700 shares of the bank’s stock after selling 9,100 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Cullen/Frost Bankers were worth $833,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CFR. Prudential Financial Inc. increased its position in Cullen/Frost Bankers by 46.7% during the first quarter. Prudential Financial Inc. now owns 83,968 shares of the bank’s stock worth $8,906,000 after purchasing an additional 26,722 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Cullen/Frost Bankers during the first quarter valued at about $246,000. Schwab Charles Investment Management Inc. increased its position in shares of Cullen/Frost Bankers by 3.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 262,014 shares of the bank’s stock valued at $27,792,000 after acquiring an additional 9,076 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Cullen/Frost Bankers by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 24,728 shares of the bank’s stock valued at $2,629,000 after acquiring an additional 732 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Cullen/Frost Bankers during the first quarter valued at about $297,000. Hedge funds and other institutional investors own 79.57% of the company’s stock.

Shares of NYSE CFR traded down $2.04 during midday trading on Friday, hitting $99.36. The company’s stock had a trading volume of 700,449 shares, compared to its average volume of 413,668. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a 1 year low of $92.03 and a 1 year high of $121.66. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.62 and a beta of 1.33.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, July 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.05. Cullen/Frost Bankers had a net margin of 31.38% and a return on equity of 13.08%. The company had revenue of $322.34 million during the quarter, compared to the consensus estimate of $342.89 million. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Equities analysts predict that Cullen/Frost Bankers, Inc. will post 6.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a $0.67 dividend. The ex-dividend date was Thursday, August 30th. This represents a $2.68 dividend on an annualized basis and a yield of 2.70%. Cullen/Frost Bankers’s dividend payout ratio is currently 49.17%.

A number of equities research analysts have weighed in on CFR shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $118.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, July 27th. Morgan Stanley reiterated a “hold” rating and set a $115.00 price target on shares of Cullen/Frost Bankers in a research report on Tuesday, September 18th. Finally, Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus price target of $116.00.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.

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Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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