Bobby Berman Sells 3,506 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) Stock

Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP Bobby Berman sold 3,506 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Cullen/Frost Bankers Stock Up 2.2 %

CFR stock opened at $127.64 on Wednesday. Cullen/Frost Bankers, Inc. has a 1-year low of $91.24 and a 1-year high of $135.00. The business’s 50 day simple moving average is $116.22 and its 200 day simple moving average is $109.24. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $8.17 billion, a PE ratio of 15.84, a PEG ratio of 1.54 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. The firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.38 earnings per share. As a group, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.61 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 annualized dividend and a yield of 2.98%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Hedge Funds Weigh In On Cullen/Frost Bankers

Institutional investors and hedge funds have recently made changes to their positions in the company. Champlain Investment Partners LLC lifted its holdings in Cullen/Frost Bankers by 18.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after purchasing an additional 495,215 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after acquiring an additional 161,580 shares during the period. Boston Trust Walden Corp acquired a new position in shares of Cullen/Frost Bankers in the third quarter valued at about $107,166,000. Dimensional Fund Advisors LP increased its position in Cullen/Frost Bankers by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after acquiring an additional 120,333 shares during the period. Finally, Principal Financial Group Inc. increased its position in Cullen/Frost Bankers by 3.3% during the third quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank’s stock worth $90,185,000 after acquiring an additional 25,909 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CFR. Wedbush reduced their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Royal Bank of Canada raised their target price on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Maxim Group boosted their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Citigroup raised their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday. Finally, 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. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $123.86.

About Cullen/Frost Bankers

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.