Paloma Partners Management Co Makes New Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Paloma Partners Management Co purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,800 shares of the bank’s stock, valued at approximately $201,000.

A number of other hedge funds have also modified their holdings of the business. Boston Trust Walden Corp acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at approximately $107,166,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Cullen/Frost Bankers in the third quarter valued at $54,012,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at $37,813,000. The Manufacturers Life Insurance Company lifted its stake in Cullen/Frost Bankers by 117.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank’s stock worth $63,618,000 after acquiring an additional 307,129 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in Cullen/Frost Bankers by 7,109.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after acquiring an additional 247,416 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. The trade was a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Howard L. Kasanoff sold 4,000 shares of the 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 sale, the executive vice president now owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,864 shares of company stock worth $2,977,033. 2.89% of the stock is owned by insiders.

Cullen/Frost Bankers Trading Up 0.0 %

Shares of Cullen/Frost Bankers stock opened at $138.26 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $129.80 and a 200-day simple moving average of $114.49. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.69 and a beta of 0.99. 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 released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm posted $2.38 earnings per share. Cullen/Frost Bankers’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CFR shares. Keefe, Bruyette & Woods increased their price target on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a research report on Wednesday. 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 report on Monday, November 4th. Royal Bank of Canada boosted their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Wedbush reduced their price objective on 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. Finally, Morgan Stanley lowered their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $125.43.

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.