Bank of New York Mellon Corp Has $78.62 Million Stock Holdings in Cullen/Frost Bankers, Inc. $CFR

Bank of New York Mellon Corp trimmed its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 611,670 shares of the bank’s stock after selling 24,229 shares during the period. Bank of New York Mellon Corp owned 0.95% of Cullen/Frost Bankers worth $78,624,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. AlphaQuest LLC boosted its holdings in Cullen/Frost Bankers by 8.0% in the second quarter. AlphaQuest LLC now owns 1,082 shares of the bank’s stock worth $139,000 after purchasing an additional 80 shares in the last quarter. Cardinal Capital Management raised its holdings in Cullen/Frost Bankers by 0.5% during the second quarter. Cardinal Capital Management now owns 17,824 shares of the bank’s stock valued at $2,291,000 after buying an additional 81 shares in the last quarter. LaSalle St. Investment Advisors LLC lifted its position in shares of Cullen/Frost Bankers by 4.0% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,165 shares of the bank’s stock worth $271,000 after buying an additional 84 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Cullen/Frost Bankers by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock worth $2,327,000 after acquiring an additional 100 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Cullen/Frost Bankers by 0.7% during the 2nd quarter. State of Michigan Retirement System now owns 15,464 shares of the bank’s stock worth $1,988,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CFR shares. Citigroup raised their price objective on Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a research note on Friday, October 31st. Evercore ISI lifted 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. Cantor Fitzgerald initiated coverage on shares of Cullen/Frost Bankers in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $138.00 price objective for the company. Royal Bank Of Canada upped their price objective on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Finally, Morgan Stanley raised their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $136.75.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $125.64 on Friday. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 2.94 and a beta of 0.74. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $147.64. The business has a fifty day simple moving average of $125.98 and a 200 day simple moving average of $127.48. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.29. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The firm had revenue of $589.31 million for the quarter, compared to analyst estimates of $565.54 million. During the same quarter in the previous year, the firm posted $2.24 EPS. Sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $4.00 dividend on an annualized basis and a yield of 3.2%. Cullen/Frost Bankers’s payout ratio is presently 41.15%.

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.