Cullen/Frost Bankers, Inc. $CFR Stock: Ethic Inc. Grows Holdings

Ethic Inc. raised its holdings in shares of Cullen/Frost Bankers, Inc. (TXSE:CFR) by 94.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,175 shares of the bank’s stock after purchasing an additional 3,494 shares during the period. Ethic Inc.’s holdings in Cullen/Frost Bankers were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CFR. BlackRock Inc. bought a new stake in shares of Cullen/Frost Bankers during the second quarter worth approximately $1,133,453,000. State Street Corp boosted its stake in Cullen/Frost Bankers by 3.8% in the second quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock valued at $497,292,000 after acquiring an additional 118,313 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Cullen/Frost Bankers by 22.6% in the second quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank’s stock valued at $429,204,000 after acquiring an additional 511,784 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cullen/Frost Bankers by 18.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after acquiring an additional 236,808 shares during the period. Finally, Bank of America Corp DE grew its holdings in Cullen/Frost Bankers by 11.8% during the 1st quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock worth $165,966,000 after acquiring an additional 127,483 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Up 0.2%

CFR stock opened at $158.17 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $9.84 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.68 and a beta of 0.52. Cullen/Frost Bankers, Inc. has a fifty-two week low of $119.14 and a fifty-two week high of $170.80. The business has a 50-day moving average of $156.95 and a 200-day moving average of $149.82.

Cullen/Frost Bankers (TXSE:CFR) last announced its quarterly earnings data on Thursday, October 29th. The bank reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $603.83 million during the quarter, compared to analysts’ expectations of $610.19 million. Cullen/Frost Bankers had a return on equity of 16.27% and a net margin of 23.37%. During the same quarter last year, the company earned $2.67 EPS. On average, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 11.02 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, November 30th. Cullen/Frost Bankers’s dividend payout ratio is presently 38.33%.

Insider Activity

In other Cullen/Frost Bankers news, insider Paul Bracher sold 2,900 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $158.24, for a total transaction of $458,896.00. Following the sale, the insider directly owned 108,736 shares of the company’s stock, valued at approximately $17,206,384.64. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Matthew Bradley Henson sold 534 shares of Cullen/Frost Bankers stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $159.72, for a total transaction of $85,290.48. Following the completion of the transaction, the chief accounting officer directly owned 317 shares of the company’s stock, valued at approximately $50,631.24. This trade represents a 62.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 5,840 shares of company stock valued at $922,169. 1.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CFR shares. Zacks Research cut Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Wall Street Zen upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Cantor Fitzgerald reduced their price objective on shares of Cullen/Frost Bankers from $175.00 to $167.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 14th. TD Cowen decreased their price objective on shares of Cullen/Frost Bankers from $185.00 to $178.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cullen/Frost Bankers in a research note on Tuesday, October 13th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus target price of $171.55.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc. is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and other financial services to individuals and businesses. Frost Bank’s services include consumer and commercial banking, lending, treasury management, and wealth management, including trust and investment services. The company primarily serves customers across Texas through its branches and digital banking channels. The company traces its roots to 1868, when Thomas Claiborne Frost established a mercantile business in San Antonio; banking became part of the business later in the 19th century.