Cullen/Frost Bankers, Inc. (NYSE:CFR) CEO Phillip D. Green Sells 14,358 Shares

Cullen/Frost Bankers, Inc. (NYSE:CFR) CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the sale, the chief executive officer now owns 94,423 shares in the company, valued at approximately $13,026,597.08. This trade represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cullen/Frost Bankers Trading Up 2.0 %

Shares of CFR opened at $142.32 on Friday. The stock’s fifty day simple moving average is $124.07 and its 200-day simple moving average is $112.05. The firm has a market capitalization of $9.13 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month 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 earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $517.25 million. During the same period in the prior year, the company posted $2.38 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Analyst Ratings Changes

A number of research firms have weighed in on CFR. Compass Point lifted their price objective on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Evercore ISI lowered their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 2nd. Truist Financial dropped their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Morgan Stanley lowered their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. Finally, Maxim Group lifted their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.86.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Covestor Ltd increased its holdings in Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Asset Dedication LLC grew its position in shares of Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after buying an additional 105 shares during the period. Brooklyn Investment Group bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at about $44,000. Allworth Financial LP raised its position in shares of 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 acquiring an additional 239 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Cullen/Frost Bankers during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Company Profile

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.