D.A. Davidson & CO. Has $1.11 Million Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

D.A. Davidson & CO. grew its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 17.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,914 shares of the bank’s stock after purchasing an additional 1,470 shares during the period. D.A. Davidson & CO.’s holdings in Cullen/Frost Bankers were worth $1,109,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position in Cullen/Frost Bankers by 117.4% in the third quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank’s stock valued at $63,618,000 after purchasing an additional 307,129 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Cullen/Frost Bankers by 515.8% during the 3rd quarter. Bank of Montreal Can now owns 133,618 shares of the bank’s stock worth $14,857,000 after buying an additional 111,919 shares during the last quarter. Hancock Whitney Corp bought a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at about $784,000. Alpha DNA Investment Management LLC increased its position in shares of Cullen/Frost Bankers by 13.8% in the third quarter. Alpha DNA Investment Management LLC now owns 6,322 shares of the bank’s stock valued at $707,000 after acquiring an additional 766 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in Cullen/Frost Bankers by 48.4% during the third quarter. Cerity Partners LLC now owns 46,715 shares of the bank’s stock worth $5,225,000 after acquiring an additional 15,244 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 1.2 %

Shares of NYSE:CFR opened at $140.62 on Monday. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64. The business has a 50 day moving average of $127.06 and a 200-day moving average of $113.36. 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 $9.02 billion, a PE ratio of 17.45, a P/E/G ratio of 1.69 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. The business had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.38 EPS. As a group, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.73 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.70%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the transaction, the executive vice president now owns 2,888 shares in the company, valued at $399,525.92. This trade represents a 58.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,864 shares of company stock valued at $2,977,033. 2.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CFR has been the topic of several recent analyst reports. Stephens boosted their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Truist Financial lowered their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Maxim Group increased their price target 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. Wedbush lowered their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Citigroup upped their target price 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. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $123.86.

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.