LMR Partners LLP Takes $402,000 Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

LMR Partners LLP bought a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 3,595 shares of the bank’s stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in shares of Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after buying an additional 141 shares in the last quarter. Asset Dedication LLC lifted its stake in Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares in the last quarter. Allworth Financial LP lifted its stake in Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after purchasing an additional 239 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Cullen/Frost Bankers during the 3rd quarter valued at about $52,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Cullen/Frost Bankers during the second quarter valued at about $54,000. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the business’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 value of $553,360.00. Following the completion of the sale, the executive vice president now owns 2,888 shares in the company, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the 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 completion of the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CFR shares. Evercore ISI dropped their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, October 2nd. Maxim Group raised their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wedbush decreased their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Compass Point increased their price objective on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley reduced their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $123.86.

Cullen/Frost Bankers Trading Down 0.5 %

CFR opened at $137.83 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. The stock’s 50 day moving average price is $122.10 and its 200-day moving average price is $111.42. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $144.89. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.68 and a beta of 0.98.

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, topping 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 business had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same quarter last year, the firm posted $2.38 earnings per share. The business’s 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 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

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 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 yield of 2.76%. Cullen/Frost Bankers’s payout ratio is 47.15%.

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.