Davis R M Inc. Lowers Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Davis R M Inc. lessened its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 50.5% in the 3rd quarter, according to its most recent filing with the SEC. 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CFR. Covestor Ltd raised its holdings in shares of 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 buying an additional 141 shares during the period. Asset Dedication LLC grew its position in Cullen/Frost Bankers by 63.3% in 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 increased its stake in Cullen/Frost Bankers by 116.6% during the third 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 acquired a new stake in shares of Cullen/Frost Bankers during the third quarter worth about $52,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Cullen/Frost Bankers in the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In other news, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,864 shares of company stock valued at $2,977,033 over the last quarter. 3.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CFR shares. Compass Point upped their target price on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Wedbush cut their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Evercore ISI decreased their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, October 2nd. Citigroup boosted their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Finally, Stephens increased their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.86.

Cullen/Frost Bankers Trading Up 1.2 %

CFR opened at $143.96 on Tuesday. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.72 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The business’s 50 day moving average is $124.07 and its two-hundred day moving average is $112.13. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.38 EPS. On average, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 2.64%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

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.