Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division trimmed its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.5% in the fourth quarter, Holdings Channel reports. The firm owned 4,496 shares of the bank’s stock after selling 420 shares during the period. Moody National Bank Trust Division’s holdings in Cullen/Frost Bankers were worth $604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd boosted its stake in Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after buying an additional 141 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at approximately $29,000. Asset Dedication LLC lifted its holdings in shares of Cullen/Frost Bankers by 63.3% in 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 last quarter. Brooklyn Investment Group purchased a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $44,000. Finally, Allworth Financial LP increased its holdings in Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CFR has been the subject of several research analyst reports. Morgan Stanley lowered their price target on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Keefe, Bruyette & Woods lifted their target price on Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Compass Point lifted their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Evercore ISI reduced their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Stephens boosted their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Four research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $127.07.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the transaction, the executive vice president now owns 2,888 shares in the company, valued at $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction dated Tuesday, November 19th. The stock was 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 in the company, valued at $13,026,597.08. This trade represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,864 shares of company stock valued at $2,977,033 in the last ninety days. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Up 3.3 %

Shares of NYSE CFR opened at $138.88 on Wednesday. The business has a 50-day moving average of $137.64 and a two-hundred day moving average of $121.42. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66.

Cullen/Frost Bankers (NYSE:CFR) last posted 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. The firm had revenue of $518.04 million during the quarter, compared to analysts’ expectations 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 revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.38 earnings per share. On average, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s payout ratio is 47.15%.

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.