Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) EVP Howard L. Kasanoff sold 4,000 shares of the business'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 transaction, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Cullen/Frost Bankers Trading Down 1.4 %
NYSE CFR opened at $141.01 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a one year low of $91.61 and a one year high of $144.89. The company has a 50-day simple moving average of $119.09 and a 200-day simple moving average of $110.25. The firm has a market capitalization of $9.04 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.73 and a beta of 0.98.
Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same period in the previous year, the firm posted $2.38 earnings per share. Cullen/Frost Bankers's quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.69%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers's payout ratio is currently 47.15%.
Hedge Funds Weigh In On Cullen/Frost Bankers
Several large investors have recently bought and sold shares of the stock. Alpha DNA Investment Management LLC lifted its stake in shares of Cullen/Frost Bankers by 13.8% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 6,322 shares of the bank's stock worth $707,000 after acquiring an additional 766 shares during the period. Cerity Partners LLC raised its holdings in Cullen/Frost Bankers by 48.4% during the third quarter. Cerity Partners LLC now owns 46,715 shares of the bank's stock worth $5,225,000 after purchasing an additional 15,244 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Cullen/Frost Bankers by 7.7% in the third quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank's stock worth $381,897,000 after purchasing an additional 244,445 shares during the period. Montrusco Bolton Investments Inc. boosted its stake in Cullen/Frost Bankers by 10.2% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank's stock valued at $135,252,000 after purchasing an additional 111,719 shares in the last quarter. Finally, Icon Wealth Advisors LLC increased its position in shares of Cullen/Frost Bankers by 244.8% during the 3rd quarter. Icon Wealth Advisors LLC now owns 5,561 shares of the bank's stock valued at $622,000 after purchasing an additional 3,948 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on CFR shares. Stephens boosted 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 report on Friday, November 1st. Maxim Group increased their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a "buy" rating in a report on Friday, November 1st. Morgan Stanley dropped their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating on the stock in a report on Monday, September 30th. Truist Financial reduced their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating for the company in a research note on Friday, September 20th. Finally, Compass Point lifted their price target on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Four equities 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 stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $123.86.
Get Our Latest Analysis on CFR
About Cullen/Frost Bankers
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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.
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