GW&K Investment Management LLC Sells 16,677 Shares of Cullen/Frost Bankers, Inc. $CFR

GW&K Investment Management LLC lowered its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 383,363 shares of the bank’s stock after selling 16,677 shares during the quarter. GW&K Investment Management LLC owned approximately 0.61% of Cullen/Frost Bankers worth $48,546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new position in Cullen/Frost Bankers in the 3rd quarter worth approximately $28,000. Covestor Ltd raised its position in shares of Cullen/Frost Bankers by 67.6% during the fourth quarter. Covestor Ltd now owns 248 shares of the bank’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Cullen/Frost Bankers by 252.1% in the fourth quarter. Blue Trust Inc. now owns 257 shares of the bank’s stock worth $33,000 after buying an additional 184 shares in the last quarter. Community Bank N.A. bought a new position in shares of Cullen/Frost Bankers during the third quarter worth $35,000. Finally, Matrix Trust Co grew its stake in Cullen/Frost Bankers by 40.4% during the fourth quarter. Matrix Trust Co now owns 320 shares of the bank’s stock valued at $41,000 after acquiring an additional 92 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CFR has been the topic of a number of research reports. Barclays lifted their price target on shares of Cullen/Frost Bankers from $150.00 to $155.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Morgan Stanley cut their price objective on Cullen/Frost Bankers from $143.00 to $133.00 and set an “underweight” rating for the company in a research report on Tuesday, March 31st. Cantor Fitzgerald reiterated a “neutral” rating on shares of Cullen/Frost Bankers in a research report on Monday, June 1st. DA Davidson increased their price target on Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Stephens upgraded Cullen/Frost Bankers from an “equal weight” rating to an “overweight” rating and set a $164.00 price target for the company in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $148.73.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR opened at $143.68 on Wednesday. Cullen/Frost Bankers, Inc. has a 52 week low of $119.00 and a 52 week high of $148.97. The stock has a market capitalization of $9.02 billion, a P/E ratio of 13.99, a PEG ratio of 3.57 and a beta of 0.55. The firm has a fifty day simple moving average of $139.73 and a two-hundred day simple moving average of $136.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, April 30th. The bank reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Cullen/Frost Bankers had a net margin of 22.86% and a return on equity of 15.58%. The firm had revenue of $574.84 million during the quarter, compared to the consensus estimate of $587.29 million. During the same quarter last year, the firm earned $2.30 EPS. On average, analysts expect that Cullen/Frost Bankers, Inc. will post 10.46 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $1.03 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, May 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 40.12%.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.