King Luther Capital Management Corp buys $157,871,034 stake in Cullen/Frost Bankers (CFR)

Cullen/Frost Bankers (CFR) : King Luther Capital Management Corp scooped up 39,329 additional shares in Cullen/Frost Bankers during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 2,296,640 shares of Cullen/Frost Bankers which is valued at $157,871,034.Cullen/Frost Bankers makes up approximately 1.48% of King Luther Capital Management Corp’s portfolio.

Other Hedge Funds, Including , Bessemer Group Inc reduced its stake in CFR by selling 153 shares or 7.53% in the most recent quarter. The Hedge Fund company now holds 1,880 shares of CFR which is valued at $129,231.Blackrock Group Ltd reduced its stake in CFR by selling 3,288 shares or 5.3% in the most recent quarter. The Hedge Fund company now holds 58,760 shares of CFR which is valued at $4,039,162. Quadrant Capital Group added CFR to its portfolio by purchasing 19 company shares during the most recent quarter which is valued at $1,290.Public Employees Retirement Association Of Colorado reduced its stake in CFR by selling 36 shares or 2.07% in the most recent quarter. The Hedge Fund company now holds 1,704 shares of CFR which is valued at $115,685. Physicians Financial Services sold out all of its stake in CFR during the most recent quarter. The investment firm sold 96 shares of CFR which is valued $6,560.

Cullen/Frost Bankers opened for trading at $71.32 and hit $71.85 on the upside on Tuesday, eventually ending the session at $71.45, with a gain of 0.88% or 0.62 points. The heightened volatility saw the trading volume jump to 4,20,798 shares. Company has a market cap of $4,438 M.

On the company’s financial health, Cullen/Frost Bankers reported $1.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.04.Analysts expectations of $ 310.33.During the same quarter in the previous year, the company posted $1.11 EPS.

Investors should note that on Jul 28, 2016, Cullen/Frost Bankers announced a cash dividend of $0.5400. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on Cullen/Frost Bankers. Company shares were Reiterated by Maxim Group on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $70 .Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 70 from a previous price target of $63 .Cullen/Frost Bankers was Upgraded by Evercore ISI to ” Hold” on Jun 9, 2016.

Cullen/Frost Bankers Inc. (Cullen/Frost) is a financial holding and a bank holding company. The Company through its subsidiaries offers commercial and consumer banking services trust and investment management mutual funds investment banking insurance brokerage leasing treasury management and item processing services. The Company serves industries including energy manufacturing services construction retail telecommunications healthcare military and transportation among others. The Company operates in two segments: Banking and Frost Wealth Advisors. The Banking segment includes commercial and consumer banking services Frost Securities Inc. and Frost Insurance Agency. Commercial banking services are provided to corporations and other business clients. Consumer banking services include direct lending and depository services. The Frost Wealth Advisors segment includes fee-based services within private trust retirement services and financial management services.

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