Quantbot Technologies LP Purchases 18,974 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Quantbot Technologies LP grew its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 139.9% in the third quarter, Holdings Channel.com reports. The firm owned 32,532 shares of the bank’s stock after buying an additional 18,974 shares during the period. Quantbot Technologies LP’s holdings in Cullen/Frost Bankers were worth $3,639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Champlain Investment Partners LLC boosted its holdings in Cullen/Frost Bankers by 7.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock worth $381,897,000 after buying an additional 244,445 shares during the period. Montrusco Bolton Investments Inc. lifted its position in shares of Cullen/Frost Bankers by 10.2% during the third quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock worth $135,252,000 after acquiring an additional 111,719 shares in the last quarter. Boston Trust Walden Corp bought a new position in shares of Cullen/Frost Bankers in the third quarter worth $107,166,000. Dimensional Fund Advisors LP grew its position in shares of Cullen/Frost Bankers by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock valued at $96,856,000 after purchasing an additional 120,333 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Cullen/Frost Bankers by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank’s stock valued at $90,185,000 after purchasing an additional 25,909 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

CFR has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Stephens upped their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price objective on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Evercore ISI reduced their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. Finally, Truist Financial lowered their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus price target of $123.86.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the sale, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This represents a 11.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phillip D. Green sold 14,358 shares of the 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 completion of the transaction, the chief executive officer now owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock valued at $2,977,033 in the last quarter. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Down 0.4 %

CFR opened at $142.34 on Thursday. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. 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 business’s 50-day moving average price is $125.39 and its 200-day moving average price is $112.64. The company has a market cap of $9.13 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.72 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The business had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 EPS. On average, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.73 EPS for the current 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.67%. Cullen/Frost Bankers’s payout ratio is currently 47.15%.

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.