Commerce Bank Sells 631 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Commerce Bank cut its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,420 shares of the bank’s stock after selling 631 shares during the quarter. Commerce Bank’s holdings in Cullen/Frost Bankers were worth $1,389,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in shares of Cullen/Frost Bankers by 125.2% during the first quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock valued at $1,338,000 after purchasing an additional 6,610 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Cullen/Frost Bankers by 11.9% during the 2nd quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock valued at $6,941,000 after buying an additional 7,236 shares during the period. Raymond James & Associates lifted its holdings in shares of Cullen/Frost Bankers by 10.0% during the 3rd quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock valued at $13,361,000 after buying an additional 10,884 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of Cullen/Frost Bankers by 7,109.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock worth $255,000 after buying an additional 247,416 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Cullen/Frost Bankers by 71,247.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 31,393 shares of the bank’s stock valued at $3,512,000 after acquiring an additional 31,349 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction that occurred 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 approximately $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the sale, the chief executive officer now owns 94,423 shares in the company, valued at approximately $13,026,597.08. This trade represents 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 sold 21,864 shares of company stock worth $2,977,033. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Up 2.0 %

Shares of CFR opened at $142.32 on Monday. Cullen/Frost Bankers, Inc. has a 52-week low of $94.09 and a 52-week high of $144.89. 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 fifty day simple moving average of $124.07 and a two-hundred day simple moving average of $112.13. The company has a market capitalization of $9.13 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.72 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) 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 net margin of 18.81% and a return on equity of 15.82%. Cullen/Frost Bankers’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $2.38 earnings per share. As a group, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CFR. Maxim Group raised their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush lowered 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. Compass Point raised their price objective on Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Citigroup boosted their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Finally, Stephens raised their target price 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 equities 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, the stock presently has an average rating of “Hold” and an average price target of $123.86.

Cullen/Frost Bankers 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.