Proficio Capital Partners LLC Purchases New Shares in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Proficio Capital Partners LLC purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 37,993 shares of the bank’s stock, valued at approximately $5,101,000.

Several other institutional investors have also added to or reduced their stakes in CFR. Covestor Ltd boosted its stake in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after purchasing an additional 141 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Cullen/Frost Bankers in the 3rd quarter valued at $29,000. UMB Bank n.a. boosted its stake in Cullen/Frost Bankers by 45.8% in the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares during the period. Brooklyn Investment Group bought a new stake in Cullen/Frost Bankers in the 3rd quarter valued at $44,000. Finally, Blue Trust Inc. lifted its position in shares of Cullen/Frost Bankers by 239.0% during the 4th quarter. Blue Trust Inc. now owns 339 shares of the bank’s stock valued at $46,000 after acquiring an additional 239 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Paul Bracher sold 11,500 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the sale, the insider now owns 102,946 shares of the company’s stock, valued at approximately $14,355,819.70. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of CFR opened at $122.64 on Monday. The stock has a market cap of $7.88 billion, a PE ratio of 13.83, a PEG ratio of 6.46 and a beta of 0.97. The business has a 50-day simple moving average of $137.03 and a two-hundred day simple moving average of $130.17. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. Analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $3.80 annualized dividend and a dividend yield of 3.10%. Cullen/Frost Bankers’s payout ratio is 42.84%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $144.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Evercore ISI upped their target price on Cullen/Frost Bankers from $136.00 to $144.00 and gave the company an “underperform” rating in a research report on Monday, February 10th. Compass Point upped their target price on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley cut their target price on Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and an average target price of $132.77.

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.