Mutual of America Capital Management LLC Sells 1,090 Shares of Cullen/Frost Bankers, Inc. $CFR

Mutual of America Capital Management LLC lessened its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,970 shares of the bank’s stock after selling 1,090 shares during the period. Mutual of America Capital Management LLC’s holdings in Cullen/Frost Bankers were worth $4,109,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CFR. Impax Asset Management Group plc boosted its holdings in Cullen/Frost Bankers by 350.8% in the first quarter. Impax Asset Management Group plc now owns 518,387 shares of the bank’s stock valued at $64,359,000 after acquiring an additional 403,387 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after purchasing an additional 230,993 shares during the last quarter. Nuveen LLC bought a new stake in shares of Cullen/Frost Bankers in the 1st quarter valued at $12,885,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Cullen/Frost Bankers in the 1st quarter valued at $12,169,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Cullen/Frost Bankers by 13.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 806,752 shares of the bank’s stock valued at $103,700,000 after purchasing an additional 95,225 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CFR shares. Evercore ISI upped their price target on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Morgan Stanley upped their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Cantor Fitzgerald assumed coverage on Cullen/Frost Bankers in a research report on Wednesday, September 10th. They set a “neutral” rating and a $138.00 target price on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Cullen/Frost Bankers in a report on Wednesday, October 8th. Finally, Raymond James Financial cut their price target on Cullen/Frost Bankers from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $137.62.

Cullen/Frost Bankers Stock Down 1.5%

Shares of NYSE:CFR opened at $123.05 on Thursday. The business’s 50 day simple moving average is $127.11 and its two-hundred day simple moving average is $126.12. The firm has a market cap of $7.91 billion, a P/E ratio of 13.25, a PEG ratio of 3.03 and a beta of 0.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.11. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.The company had revenue of $567.83 million for the quarter, compared to analysts’ expectations of $552.04 million. During the same period last year, the business earned $2.21 EPS. As a group, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.06%.

Cullen/Frost Bankers 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.