Coastline Trust Co Invests $203,000 in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Coastline Trust Co acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the third quarter, Holdings Channel reports. The fund acquired 1,815 shares of the bank’s stock, valued at approximately $203,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Covestor Ltd lifted its position in Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares during the last quarter. Asset Dedication LLC lifted its holdings in shares of Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after acquiring an additional 105 shares during the last quarter. Allworth Financial LP boosted its position in shares of Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after purchasing an additional 239 shares during the period. Capital Performance Advisors LLP purchased a new stake in Cullen/Frost Bankers in the third quarter valued at approximately $52,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $54,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the sale, the executive vice president now owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

Cullen/Frost Bankers Trading Down 0.2 %

NYSE:CFR opened at $139.27 on Friday. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $144.89. The stock has a market cap of $8.93 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.68 and a beta of 0.98. 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 has a 50-day simple moving average of $120.88 and a 200-day simple moving average of $110.93.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same period in the prior year, the company posted $2.38 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.73%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CFR. Stephens lifted their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Compass Point lifted their target price on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Wedbush lowered their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Morgan Stanley cut their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research note on Monday, September 30th. Finally, 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. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $123.86.

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.