Trust Point Inc. Acquires New Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Trust Point Inc. bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the fourth quarter, HoldingsChannel.com reports. The firm bought 4,287 shares of the bank’s stock, valued at approximately $576,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Covestor Ltd raised 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 acquiring an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $29,000. Asset Dedication LLC boosted its stake in shares of 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 buying an additional 105 shares during the period. UMB Bank n.a. grew its position in shares of Cullen/Frost Bankers by 45.8% during the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock worth $33,000 after buying an additional 77 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Cullen/Frost Bankers during the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Up 2.1 %

CFR stock opened at $138.70 on Wednesday. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. The company has a fifty day moving average price of $137.63 and a 200 day moving average price of $125.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 16.04%. Sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.66 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, February 28th. Cullen/Frost Bankers’s payout ratio is currently 42.84%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CEO Phillip D. Green sold 14,358 shares of the business’s 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 transaction, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $399,525.92. This trade represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,858 shares of company stock worth $4,137,865 over the last 90 days. 3.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

CFR has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a research note on Monday. Maxim Group boosted their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Compass Point increased their target price on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Stephens upped their price objective on 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $144.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $130.31.

About Cullen/Frost Bankers

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.