Brandywine Global Investment Management LLC Sells 1,997 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Brandywine Global Investment Management LLC cut its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 6.8% during the fourth quarter, HoldingsChannel reports. The firm owned 27,374 shares of the bank’s stock after selling 1,997 shares during the period. Brandywine Global Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $3,675,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CFR. CIBC Private Wealth Group LLC lifted its holdings in shares of Cullen/Frost Bankers by 4.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,797 shares of the bank’s stock worth $787,000 after buying an additional 229 shares during the last quarter. Maridea Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the 4th quarter valued at $267,000. Orion Portfolio Solutions LLC boosted its holdings in Cullen/Frost Bankers by 118.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 14,316 shares of the bank’s stock valued at $1,922,000 after purchasing an additional 7,750 shares during the period. Pictet Asset Management Holding SA grew its position in Cullen/Frost Bankers by 14.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,905 shares of the bank’s stock worth $1,195,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Cullen/Frost Bankers by 35.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the bank’s stock worth $62,000 after purchasing an additional 120 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

CFR has been the subject of several research reports. Barclays began coverage on shares of Cullen/Frost Bankers in a research note on Tuesday. They issued an “equal weight” rating and a $130.00 target price for the company. DA Davidson lowered Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $138.00 to $143.00 in a report on Monday, February 3rd. Evercore ISI raised their target price on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a research report on Monday, February 10th. Morgan Stanley decreased their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating on the stock in a research note on Thursday, March 13th. Finally, Compass Point increased their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average target price of $132.57.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $123.62 on Wednesday. The business’s fifty day moving average is $133.67 and its two-hundred day moving average is $131.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $7.95 billion, a P/E ratio of 13.94, a P/E/G ratio of 6.46 and a beta of 0.97. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal 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 issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, February 28th. Cullen/Frost Bankers’s dividend payout ratio is currently 42.84%.

Insider Activity

In other news, insider Paul Bracher sold 11,500 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, January 31st. The shares were 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 owns 102,946 shares in the company, valued at $14,355,819.70. The trade was a 10.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.