Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP Sells $553,360.00 in Stock

Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cullen/Frost Bankers Stock Up 0.6 %

NYSE CFR opened at $139.48 on Friday. The stock has a market cap of $8.94 billion, a PE ratio of 17.31, a P/E/G ratio of 1.68 and a beta of 0.98. The business has a 50 day moving average price of $120.23 and a two-hundred day moving average price of $110.65. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $144.89. 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 released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. The firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.38 EPS. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CFR shares. Maxim Group upped their target price 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. Wedbush dropped their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Citigroup raised their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Truist Financial cut their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Finally, Stephens boosted their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $123.86.

Institutional Investors Weigh In On Cullen/Frost Bankers

Hedge funds have recently bought and sold shares of the business. Covestor Ltd boosted its stake in shares of Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares during the last quarter. Asset Dedication LLC boosted its stake in Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares during the last quarter. Brooklyn Investment Group acquired a new position in Cullen/Frost Bankers during the 3rd quarter worth $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 worth $50,000 after acquiring an additional 239 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth about $52,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.