Alpha DNA Investment Management LLC Raises Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Alpha DNA Investment Management LLC increased its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 13.8% in the third quarter, Holdings Channel.com reports. The firm owned 6,322 shares of the bank’s stock after purchasing an additional 766 shares during the period. Alpha DNA Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $707,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Covestor Ltd boosted its stake in Cullen/Frost Bankers by 169.9% in 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 holdings 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 acquiring an additional 105 shares during the period. Allworth Financial LP boosted its position in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after acquiring an additional 239 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Cullen/Frost Bankers in the third quarter valued at approximately $52,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the second quarter worth approximately $54,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CFR shares. Citigroup lifted their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday, November 4th. Evercore ISI lowered their price target 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. Wedbush dropped their price target on 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. Maxim Group lifted their price objective 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. Finally, Royal Bank of Canada increased their target price on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $123.86.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the firm’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 transaction, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the transaction, the executive vice president now directly owns 2,888 shares in the company, valued at $399,525.92. This represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,864 shares of company stock worth $2,977,033. 2.89% of the stock is currently owned by corporate insiders.

Cullen/Frost Bankers Trading Up 2.0 %

NYSE:CFR opened at $142.32 on Friday. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $144.89. The business’s 50-day simple moving average is $124.07 and its 200 day simple moving average is $112.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.72 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The company had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. During the same period in the prior year, the business posted $2.38 EPS. The business’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company 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%.

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.