Quantbot Technologies LP Buys 18,974 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Quantbot Technologies LP grew its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 139.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,532 shares of the bank’s stock after acquiring an additional 18,974 shares during the quarter. Quantbot Technologies LP owned 0.05% of Cullen/Frost Bankers worth $3,639,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Covestor Ltd grew its stake in shares of Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares in the last quarter. Asset Dedication LLC increased its stake 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 last quarter. Allworth Financial LP raised its holdings in shares of Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares during the period. Capital Performance Advisors LLP acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $52,000. Finally, Abich Financial Wealth Management LLC bought a new position in Cullen/Frost Bankers during the second quarter worth about $54,000. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the firm’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 sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their position. 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 90 days. 2.89% of the stock is owned by insiders.

Cullen/Frost Bankers Stock Down 0.4 %

Shares of NYSE:CFR opened at $142.34 on Thursday. Cullen/Frost Bankers, Inc. has a 52-week low of $94.09 and a 52-week high of $147.64. The company has a market capitalization of $9.13 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The company has a fifty day moving average of $125.39 and a 200-day moving average of $112.64.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The business had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.38 EPS. On average, equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.73 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.67%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup raised their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Maxim Group lifted their price objective 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. Morgan Stanley dropped their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada upped their price target 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. Finally, Stephens raised their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Cullen/Frost Bankers presently has a consensus 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.