Vaughan Nelson Investment Management L.P. Buys New Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Vaughan Nelson Investment Management L.P. acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 482,860 shares of the bank’s stock, valued at approximately $54,012,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd grew its stake in Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after buying an additional 141 shares during the period. Asset Dedication LLC lifted its holdings in shares of Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares in the last quarter. Allworth Financial LP boosted its position in 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 during the 3rd quarter worth $52,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Cullen/Frost Bankers in the 2nd quarter valued at $54,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 0.2 %

NYSE CFR opened at $139.27 on Friday. The company’s fifty day moving average price is $120.88 and its two-hundred day moving average price is $110.93. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $144.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. The business had revenue of $518.04 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $2.38 earnings per share. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid 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 2.73%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at $399,525.92. This trade represents a 58.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were 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 owns 26,661 shares in the company, valued at $3,367,550.91. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CFR. Citigroup upped their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Wedbush decreased their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Compass Point increased their price objective on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Evercore ISI reduced their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada upped 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 note on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $123.86.

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.