Alps Advisors Inc. Decreases Stake in Cullen/Frost Bankers, Inc. (CFR)

Alps Advisors Inc. decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 65.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,979 shares of the bank’s stock after selling 7,471 shares during the quarter. Alps Advisors Inc.’s holdings in Cullen/Frost Bankers were worth $386,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Cullen/Frost Bankers by 9,679.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,249,329 shares of the bank’s stock valued at $26,000 after buying an additional 2,226,329 shares during the period. JOYN Advisors Inc. boosted its stake in shares of Cullen/Frost Bankers by 1,993.8% in the fourth quarter. JOYN Advisors Inc. now owns 335 shares of the bank’s stock valued at $29,000 after buying an additional 319 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Cullen/Frost Bankers in the first quarter valued at approximately $35,000. Lindbrook Capital LLC bought a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at approximately $37,000. Finally, First Mercantile Trust Co. boosted its stake in shares of Cullen/Frost Bankers by 48.4% in the fourth quarter. First Mercantile Trust Co. now owns 460 shares of the bank’s stock valued at $41,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 82.26% of the company’s stock.

In other news, Chairman Phillip D. Green sold 14,210 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.91, for a total value of $1,448,141.10. Following the completion of the transaction, the chairman now directly owns 34,337 shares in the company, valued at approximately $3,499,283.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jerry Salinas sold 12,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $100.98, for a total value of $1,211,760.00. Following the completion of the transaction, the chief financial officer now owns 24,856 shares of the company’s stock, valued at $2,509,958.88. The disclosure for this sale can be found here. 4.84% of the stock is owned by corporate insiders.

Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Maxim Group restated a “buy” rating and set a $110.00 target price (down from $115.00) on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Wedbush upped their target price on Cullen/Frost Bankers from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Stephens set a $100.00 target price on Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $102.89.

NYSE CFR opened at $97.95 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.61 and a quick ratio of 0.61. Cullen/Frost Bankers, Inc. has a fifty-two week low of $81.87 and a fifty-two week high of $121.66. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.48 and a beta of 1.38.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, April 25th. The bank reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.04. Cullen/Frost Bankers had a return on equity of 14.30% and a net margin of 32.16%. The firm had revenue of $367.96 million during the quarter, compared to analysts’ expectations of $366.47 million. During the same period in the prior year, the company earned $1.61 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts predict that Cullen/Frost Bankers, Inc. will post 7.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.67. This represents a $2.84 annualized dividend and a yield of 2.90%. Cullen/Frost Bankers’s dividend payout ratio is presently 38.84%.

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About Cullen/Frost Bankers

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

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

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