CULLEN FROST BANKERS INC

Ticker: CFR CUSIP: 229899109 Class: COM

ARIEL INVESTMENTS, LLC's Holding History (CIK: 0000936753)

Note: Option positions (PUT/CALL) are excluded.

Q2 2016

Shares 30,850 Value ($000) $1,966 Avg Close $46.66 Range $38.78 - $51.48

Q1 2016

Shares 30,279 Value ($000) $1,669 Avg Close $38.79 Range $31.63 - $44.93

Q4 2015

Shares 16,597 Value ($000) $996 Avg Close $49.23 Range $44.21 - $54.77

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	30,850	$1,966	$46.66	$38.78 - $51.48
Q1 2016	30,279	$1,669	$38.79	$31.63 - $44.93
Q4 2015	16,597	$996	$49.23	$44.21 - $54.77