Prospera Financial Services Inc Makes New Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Prospera Financial Services Inc purchased a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,789 shares of the bank’s stock, valued at approximately $200,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its position in Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after buying an additional 161,580 shares during the last quarter. Boston Trust Walden Corp purchased a new position in Cullen/Frost Bankers during the 3rd quarter worth approximately $107,166,000. Dimensional Fund Advisors LP grew its position in Cullen/Frost Bankers by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after purchasing an additional 120,333 shares in the last quarter. Principal Financial Group Inc. grew its position in Cullen/Frost Bankers by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank’s stock worth $90,185,000 after purchasing an additional 25,909 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Cullen/Frost Bankers by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 648,922 shares of the bank’s stock worth $65,950,000 after purchasing an additional 2,420 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the transaction, the executive vice president now owns 2,888 shares of the company’s stock, valued at $399,525.92. The trade was 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, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,864 shares of company stock valued at $2,977,033 in the last quarter. Insiders own 3.00% of the company’s stock.

Cullen/Frost Bankers Stock Up 1.2 %

CFR stock opened at $143.96 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64. The company has a fifty day simple moving average of $124.07 and a 200 day simple moving average of $112.13. The firm has a market cap of $9.23 billion, a PE ratio of 17.86, a PEG 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, beating the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the previous year, the business earned $2.38 EPS. Cullen/Frost Bankers’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is 47.15%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CFR shares. Stephens lifted their price objective on shares of 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. Morgan Stanley lowered their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Evercore ISI lowered their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 2nd. Compass Point boosted their price target on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Wedbush lowered their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers currently 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.