Simmons Bank Sells 280 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Simmons Bank decreased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 11.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,165 shares of the bank’s stock after selling 280 shares during the period. Simmons Bank’s holdings in Cullen/Frost Bankers were worth $235,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CFR. FMR LLC increased its position in Cullen/Frost Bankers by 6.3% during the 3rd quarter. FMR LLC now owns 1,476,411 shares of the bank’s stock valued at $134,663,000 after buying an additional 88,042 shares in the last quarter. Montrusco Bolton Investments Inc. increased its holdings in shares of Cullen/Frost Bankers by 12.6% during the third quarter. Montrusco Bolton Investments Inc. now owns 647,965 shares of the bank’s stock valued at $59,101,000 after acquiring an additional 72,458 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cullen/Frost Bankers by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 521,139 shares of the bank’s stock worth $56,538,000 after purchasing an additional 32,041 shares during the last quarter. Sei Investments Co. raised its position in shares of Cullen/Frost Bankers by 5.8% in the 3rd quarter. Sei Investments Co. now owns 314,657 shares of the bank’s stock worth $28,700,000 after purchasing an additional 17,141 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Cullen/Frost Bankers by 0.6% in the 3rd quarter. Invesco Ltd. now owns 297,436 shares of the bank’s stock worth $27,129,000 after purchasing an additional 1,832 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $10,543,972. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares in the company, valued at $2,934,204.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $10,543,972. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

CFR has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Keefe, Bruyette & Woods decreased their price target on Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. DA Davidson reaffirmed a “buy” rating and set a $126.00 price objective on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. StockNews.com raised Cullen/Frost Bankers to a “sell” rating in a research report on Saturday. Finally, Morgan Stanley raised their price target on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $117.46.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock traded up $0.77 during trading on Wednesday, reaching $106.85. The company had a trading volume of 112,820 shares, compared to its average volume of 423,956. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $108.84 and its 200 day simple moving average is $104.70. Cullen/Frost Bankers, Inc. has a 52 week low of $82.25 and a 52 week high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same period in the prior year, the company earned $2.70 EPS. Sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.43 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, May 31st. Cullen/Frost Bankers’s dividend payout ratio is presently 43.50%.

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.