D.A. Davidson & CO. Purchases 1,470 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

D.A. Davidson & CO. grew its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 17.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,914 shares of the bank’s stock after buying an additional 1,470 shares during the quarter. D.A. Davidson & CO.’s holdings in Cullen/Frost Bankers were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Covestor Ltd increased its holdings in Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. Asset Dedication LLC grew 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 worth $30,000 after purchasing an additional 105 shares during the last quarter. Allworth Financial LP increased its stake in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after buying an additional 239 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Cullen/Frost Bankers in the third quarter valued at about $52,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the 2nd quarter worth about $54,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CFR. Stephens boosted 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. Royal Bank of Canada boosted their price objective on shares of 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. Citigroup increased their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Compass Point boosted their target price on Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI decreased their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Four equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $123.86.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR opened at $140.62 on Monday. The firm’s 50 day simple moving average is $127.06 and its 200 day simple moving average is $113.36. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.69 and a beta of 0.98. 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. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same period last year, the business posted $2.38 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.73 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.70%. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the completion of the sale, the chief executive officer now owns 94,423 shares of the company’s stock, valued at $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,864 shares of company stock valued at $2,977,033. Company insiders own 2.89% of the company’s stock.

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.