Cullen/Frost Bankers (NYSE:CFR) Stock: Insider Paul Bracher Sells 2,900 Shares

Cullen/Frost Bankers, Inc. (NYSE:CFR) insider Paul Bracher sold 2,900 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $158.24, for a total value of $458,896.00. Following the completion of the sale, the insider directly owned 108,736 shares of the company’s stock, valued at approximately $17,206,384.64. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cullen/Frost Bankers Trading Up 1.9%

CFR stock traded up $3.00 during trading on Monday, hitting $158.23. 39,950 shares of the company traded hands, compared to its average volume of 545,561. The firm has a market capitalization of $9.84 billion, a PE ratio of 14.70, a P/E/G ratio of 1.66 and a beta of 0.52. Cullen/Frost Bankers, Inc. has a 1 year low of $119.14 and a 1 year high of $170.80. The company has a 50-day moving average of $157.27 and a 200-day moving average of $149.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65.

Cullen/Frost Bankers (NYSE: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 firm had revenue of $603.83 million during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $2.67 earnings per share. Analysts predict that Cullen/Frost Bankers, Inc. will post 11.00 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 Tuesday, December 15th. Investors of record on Monday, November 30th will be paid 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 payout ratio is presently 38.33%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CFR. Wall Street Zen upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Barclays raised their price target on shares of Cullen/Frost Bankers from $160.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, October 5th. Zacks Research downgraded shares of Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. DA Davidson upped their price objective on shares of Cullen/Frost Bankers from $164.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cullen/Frost Bankers in a report on Tuesday, October 13th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $171.55.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Cullen/Frost Bankers in the 2nd quarter worth about $1,133,453,000. State Street Corp boosted its stake in shares of Cullen/Frost Bankers by 3.8% during the 2nd quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock valued at $497,292,000 after purchasing an additional 118,313 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Cullen/Frost Bankers by 22.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank’s stock valued at $429,204,000 after purchasing an additional 511,784 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cullen/Frost Bankers by 18.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock valued at $209,833,000 after buying an additional 236,808 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Cullen/Frost Bankers by 11.8% in the first quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock worth $165,966,000 after buying an additional 127,483 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

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.