Brooklyn Investment Group Trims Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Brooklyn Investment Group trimmed its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 20.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 311 shares of the bank’s stock after selling 79 shares during the period. Brooklyn Investment Group’s holdings in Cullen/Frost Bankers were worth $42,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Covestor Ltd grew its holdings in shares of 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 purchasing an additional 141 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at about $29,000. Asset Dedication LLC grew its stake in 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 buying an additional 105 shares during the last quarter. Allworth Financial LP increased its position 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 buying an additional 239 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in Cullen/Frost Bankers in the third quarter valued at approximately $52,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CFR. Royal Bank of Canada raised their target price on shares of 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. 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 note on Monday, September 30th. Citigroup increased their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Stephens upped their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Compass Point lifted their target price on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $127.07.

Insider Activity

In related news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. The trade was a 11.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction on Tuesday, November 19th. The shares were 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 in the company, valued at approximately $13,026,597.08. This trade represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,864 shares of company stock worth $2,977,033 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Cullen/Frost Bankers Stock Up 2.1 %

Shares of NYSE CFR opened at $143.33 on Monday. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The firm has a 50-day moving average price of $137.71 and a 200 day moving average price of $122.30. 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 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. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the previous year, the company earned $2.38 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.65%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Cullen/Frost Bankers 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.