Insider Selling: Cullen/Frost Bankers, Inc. (NYSE:CFR) CEO Sells $1,980,829.68 in Stock

Cullen/Frost Bankers, Inc. (NYSE:CFR) CEO Phillip D. Green sold 14,358 shares of the firm’s stock in a transaction dated 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 owns 94,423 shares of the company’s stock, valued at $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock opened at $142.32 on Friday. 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 fifty day simple moving average of $124.07 and a 200-day simple moving average of $112.05. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.69 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $144.89.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.38 EPS. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share 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. Shareholders of record on Friday, November 29th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Covestor Ltd raised its stake in Cullen/Frost Bankers by 169.9% during 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 last quarter. Asset Dedication LLC increased 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 worth $30,000 after purchasing an additional 105 shares during the period. Brooklyn Investment Group acquired a new position in shares of Cullen/Frost Bankers during the third quarter valued at about $44,000. Allworth Financial LP lifted its stake in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after buying an additional 239 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Cullen/Frost Bankers during the third quarter worth about $52,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on CFR shares. Morgan Stanley decreased their price target on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Compass Point boosted their price target on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Evercore ISI cut their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Maxim Group lifted their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada upped their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 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.