Wilmington Savings Fund Society FSB Takes Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Wilmington Savings Fund Society FSB purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the third quarter, Holdings Channel.com reports. The fund purchased 255 shares of the bank’s stock, valued at approximately $29,000.

Several other hedge funds have also made changes to their positions in the stock. Covestor Ltd lifted its position in Cullen/Frost Bankers by 169.9% in the 3rd 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 raised its holdings in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after buying an additional 105 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Cullen/Frost Bankers during the third quarter valued at approximately $44,000. Allworth Financial LP boosted its position in shares of Cullen/Frost Bankers by 116.6% during the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after buying an additional 239 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Cullen/Frost Bankers in the 3rd quarter worth approximately $52,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $134.30 on Tuesday. 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 company has a market capitalization of $8.61 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. The stock has a fifty day moving average of $134.70 and a 200-day moving average of $117.28. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The business had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. Cullen/Frost Bankers’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $2.38 EPS. As a group, equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.83%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,864 shares of company stock worth $2,977,033. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on CFR shares. Royal Bank of Canada boosted their price target on 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. Evercore ISI reduced their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Maxim Group raised their target price 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 reduced their price target on shares of 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. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus target price of $127.07.

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.