Envestnet Asset Management Inc. Sells 1,595 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Envestnet Asset Management Inc. decreased its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 183,325 shares of the bank’s stock after selling 1,595 shares during the period. Envestnet Asset Management Inc. owned about 0.29% of Cullen/Frost Bankers worth $18,631,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in shares of Cullen/Frost Bankers during the fourth quarter valued at approximately $33,000. CWM LLC boosted its holdings in shares of Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after buying an additional 106 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after buying an additional 186 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Cullen/Frost Bankers by 89.7% in the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock worth $50,000 after buying an additional 218 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Cullen/Frost Bankers by 40.7% in the 1st quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock worth $65,000 after acquiring an additional 166 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Down 1.5 %

CFR opened at $112.54 on Tuesday. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.35 and a beta of 1.00. The firm has a 50 day moving average price of $110.88 and a 200-day moving average price of $106.87. Cullen/Frost Bankers, Inc. has a twelve month low of $82.25 and a twelve month high of $123.17. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. The business had revenue of $528.81 million during the quarter, compared to analyst estimates 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 business earned $2.47 EPS. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.38%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date was Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 44.92%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CFR. Stephens upped their price objective on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Maxim Group upped their price target on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wedbush lifted their price objective on Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. cut 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. Finally, Morgan Stanley lowered Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $112.00 to $121.00 in a research report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $119.71.

Insider Buying and Selling at Cullen/Frost Bankers

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

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.