Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 38.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,556 shares of the bank’s stock after selling 3,450 shares during the period. Alpha DNA Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $565,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CFR. Champlain Investment Partners LLC raised its position in Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after purchasing an additional 495,215 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in Cullen/Frost Bankers by 7,109.7% in the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock worth $255,000 after acquiring an additional 247,416 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after acquiring an additional 244,197 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Cullen/Frost Bankers by 18.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after acquiring an additional 161,580 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Cullen/Frost Bankers by 2,414.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 153,051 shares of the bank’s stock valued at $16,605,000 after purchasing an additional 146,963 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares in the company, valued at approximately $2,243,796.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. The disclosure for this sale can be found here. 2.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CFR has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Wedbush dropped their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday. Royal Bank of Canada boosted their target price on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. DA Davidson increased their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Morgan Stanley cut shares of Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $112.00 to $121.00 in a report on Monday, August 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $119.64.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $112.51 on Wednesday. The firm has a market cap of $7.20 billion, a P/E ratio of 13.30, a P/E/G ratio of 1.37 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 52-week low of $82.25 and a 52-week high of $123.17. The business’s 50-day moving average price is $110.90 and its 200 day moving average price is $106.90. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. The company had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same period last year, the business posted $2.47 EPS. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.95 dividend. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, August 30th. Cullen/Frost Bankers’s payout ratio is currently 44.92%.

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.