Amalgamated Bank Sells 9,068 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Amalgamated Bank decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 23.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,234 shares of the bank’s stock after selling 9,068 shares during the quarter. Amalgamated Bank’s holdings in Cullen/Frost Bankers were worth $3,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in Cullen/Frost Bankers by 125.2% in the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock worth $1,338,000 after acquiring an additional 6,610 shares during the last quarter. Natixis bought a new stake in Cullen/Frost Bankers in the 1st quarter worth approximately $957,000. American Century Companies Inc. increased its stake in Cullen/Frost Bankers by 11.9% in the 2nd quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock worth $6,941,000 after acquiring an additional 7,236 shares during the last quarter. Raymond James & Associates increased its stake in Cullen/Frost Bankers by 10.0% in the 3rd quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock worth $13,361,000 after acquiring an additional 10,884 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Cullen/Frost Bankers by 15.9% in the 1st quarter. Sei Investments Co. now owns 377,920 shares of the bank’s stock worth $42,543,000 after acquiring an additional 51,808 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Evercore ISI cut their target price 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. Compass Point boosted their target price on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. DA Davidson boosted their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Maxim Group boosted their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Wedbush cut their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $123.86.

Cullen/Frost Bankers Price Performance

CFR opened at $139.17 on Friday. The business has a fifty day moving average of $117.90 and a 200 day moving average of $109.83. Cullen/Frost Bankers, Inc. has a 52-week low of $91.24 and a 52-week high of $144.19. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The stock has a market cap of $8.93 billion, a P/E ratio of 17.27, a PEG ratio of 1.74 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping 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 business 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 earned $2.38 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current 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 $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is 47.15%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.89% of the company’s stock.

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.