Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP Sells $442,842.86 in Stock

Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the sale, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $143.66 on Thursday. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 1.51 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 1-year low of $91.24 and a 1-year high of $144.19. 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 stock’s fifty day simple moving average is $116.84 and its 200-day simple moving average is $109.48.

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, beating the consensus estimate of $2.17 by $0.07. The company had revenue of $518.04 million for 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.38 EPS. On average, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.65%. Cullen/Frost Bankers’s payout ratio is 47.15%.

Hedge Funds Weigh In On Cullen/Frost Bankers

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in Cullen/Frost Bankers by 40.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock worth $155,000 after purchasing an additional 395 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Cullen/Frost Bankers by 35.2% in the first quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank’s stock worth $1,866,000 after buying an additional 4,317 shares during the last quarter. Capstone Investment Advisors LLC lifted its stake in Cullen/Frost Bankers by 68.8% in the first quarter. Capstone Investment Advisors LLC now owns 3,993 shares of the bank’s stock valued at $449,000 after acquiring an additional 1,628 shares during the last quarter. Whittier Trust Co. grew its position in Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after acquiring an additional 186 shares in the last quarter. Finally, Avidian Wealth Solutions LLC bought a new position in shares of Cullen/Frost Bankers during the 1st quarter valued at $254,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CFR shares. 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. Compass Point upped 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. Royal Bank of Canada lifted their price objective on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Maxim Group increased their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley reduced their target price 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. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target 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.