Phillip D. Green Sells 14,358 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) Stock

Cullen/Frost Bankers, Inc. (NYSE:CFR) CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cullen/Frost Bankers Trading Up 1.3 %

Shares of NYSE:CFR traded up $1.74 during midday trading on Thursday, reaching $139.53. The company’s stock had a trading volume of 271,286 shares, compared to its average volume of 455,268. The business has a 50 day moving average price of $122.74 and a 200 day moving average price of $111.60. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $144.89. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.67 and a beta of 0.98. 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 posted its quarterly earnings data 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 net margin of 18.81% and a return on equity of 15.82%. The company had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same quarter in the prior year, the company posted $2.38 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Research 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. Stockholders of record on Friday, November 29th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.72%. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Institutional Trading of Cullen/Frost Bankers

A number of institutional investors and hedge funds have recently made changes to their positions in CFR. Covestor Ltd grew its stake in 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 buying an additional 141 shares during the period. Asset Dedication LLC boosted its position in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after buying an additional 105 shares during the period. Brooklyn Investment Group acquired a new stake in Cullen/Frost Bankers in the third quarter valued at approximately $44,000. Allworth Financial LP grew its holdings in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Cullen/Frost Bankers during the 3rd quarter worth $52,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Compass Point lifted their price target on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Morgan Stanley cut their price target 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. Wedbush lowered their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Truist Financial reduced their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Finally, Maxim Group raised their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.