Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Davis R M Inc.

Davis R M Inc. lowered its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 50.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,439 shares of the bank’s stock after selling 8,621 shares during the period. Davis R M Inc.’s holdings in Cullen/Frost Bankers were worth $944,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in shares of Cullen/Frost Bankers by 125.2% in the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock valued at $1,338,000 after acquiring an additional 6,610 shares during the last quarter. American Century Companies Inc. boosted its holdings in Cullen/Frost Bankers by 11.9% in the second quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock valued at $6,941,000 after purchasing an additional 7,236 shares during the last quarter. Raymond James & Associates grew its position in Cullen/Frost Bankers by 10.0% during the 3rd quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock worth $13,361,000 after purchasing an additional 10,884 shares during the period. Strategic Financial Concepts LLC raised its stake in shares of Cullen/Frost Bankers by 7,109.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after buying an additional 247,416 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Cullen/Frost Bankers by 71,247.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 31,393 shares of the bank’s stock valued at $3,512,000 after buying an additional 31,349 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Up 1.2 %

Shares of CFR stock opened at $143.96 on Tuesday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s fifty day moving average is $124.07 and its two-hundred day moving average is $112.13. The firm has a market capitalization of $9.23 billion, a P/E ratio of 17.86, a PEG ratio of 1.72 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. During the same quarter in the prior year, the company earned $2.38 EPS. Cullen/Frost Bankers’s revenue was up 5.4% compared to the same quarter last year. Research analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.64%. Cullen/Frost Bankers’s payout ratio is 47.15%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Evercore ISI reduced their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley decreased their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. Stephens increased their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Citigroup raised their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada upped their price objective on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $123.86.

Insiders Place Their Bets

In other news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. The trade was a 11.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the transaction, the executive vice president now owns 2,888 shares of the company’s stock, valued at $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,864 shares of company stock valued at $2,977,033. Insiders own 3.00% of the company’s stock.

Cullen/Frost Bankers 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.