Glenmede Trust Co. NA Has $531,000 Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Glenmede Trust Co. NA lifted its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,748 shares of the bank’s stock after buying an additional 475 shares during the period. Glenmede Trust Co. NA’s holdings in Cullen/Frost Bankers were worth $531,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. 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 worth $25,000 after buying an additional 141 shares during the last quarter. Asset Dedication LLC lifted its stake in Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after purchasing an additional 105 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $44,000. Allworth Financial LP lifted its stake in Cullen/Frost Bankers by 116.6% in 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 during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Cullen/Frost Bankers in the 3rd quarter valued at about $52,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, October 2nd. Compass Point raised their target price on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Maxim Group raised their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley cut their target price on shares of 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. Finally, Citigroup raised their price objective 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. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus price target of $123.86.

Cullen/Frost Bankers Stock Down 0.6 %

Shares of CFR opened at $139.32 on Wednesday. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. The firm’s 50 day moving average is $128.15 and its 200-day moving average is $113.84. The stock has a market capitalization of $8.93 billion, a PE ratio of 17.29, a P/E/G ratio of 1.69 and a beta of 0.99. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $517.25 million. During the same period last year, the firm earned $2.38 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.73 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued 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 2.73%. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 link. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,864 shares of company stock valued at $2,977,033. 3.00% of the stock is currently owned by company insiders.

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.