Magnolia Group Exits Position in Cullen/Frost Bankers (CFR)

Cullen/Frost Bankers (CFR) : Magnolia Group has sold out all of its stake in Cullen/Frost Bankers during the most recent quarter, according to the disclosure filed by the company on Aug 9, 2016 with the SEC. The investment management company has sold out 181,704 shares of Cullen/Frost Bankers which is valued at $12,735,633.

Other Hedge Funds, Including , Tributary Capital Management boosted its stake in CFR in the latest quarter, The investment management firm added 6,336 additional shares and now holds a total of 64,105 shares of Cullen/Frost Bankers which is valued at $4,429,014. Cullen/Frost Bankers makes up approx 0.61% of Tributary Capital Management’s portfolio.Mutual Of America Capital Management boosted its stake in CFR in the latest quarter, The investment management firm added 1,081 additional shares and now holds a total of 39,943 shares of Cullen/Frost Bankers which is valued at $2,672,586. Cullen/Frost Bankers makes up approx 0.06% of Mutual Of America Capital Management’s portfolio. Matterhorn Capital Management sold out all of its stake in CFR during the most recent quarter. The investment firm sold 60,880 shares of CFR which is valued $4,073,481.First National Bank Of Omaha reduced its stake in CFR by selling 5,895 shares or 22.44% in the most recent quarter. The Hedge Fund company now holds 20,370 shares of CFR which is valued at $1,386,993. Cullen/Frost Bankers makes up approx 0.10% of First National Bank Of Omaha’s portfolio.

Cullen/Frost Bankers opened for trading at $69.99 and hit $71.35 on the upside on Wednesday, eventually ending the session at $70.31, with a gain of 0.37% or 0.26 points. The heightened volatility saw the trading volume jump to 5,15,063 shares. Company has a market cap of $4,367 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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