MML Investors Services LLC Sells 162 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

MML Investors Services LLC trimmed its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.7% in the third quarter, Holdings Channel.com reports. The firm owned 2,677 shares of the bank’s stock after selling 162 shares during the quarter. MML Investors Services LLC’s holdings in Cullen/Frost Bankers were worth $299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of 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 in the last quarter. Asset Dedication LLC increased its holdings in 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 purchasing an additional 105 shares in the last quarter. Brooklyn Investment Group acquired a new position in Cullen/Frost Bankers in the 3rd quarter worth about $44,000. Allworth Financial LP raised its position in 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 purchasing an additional 239 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Cullen/Frost Bankers during the third quarter valued at about $52,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $135.96 on Thursday. The stock’s 50 day moving average price is $135.00 and its two-hundred day moving average price is $117.53. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a 52-week low of $94.09 and a 52-week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $517.25 million. During the same period last year, the company posted $2.38 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Buying and Selling

In related news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers 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 sale, the executive vice president now owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 94,423 shares in the company, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,864 shares of company stock valued at $2,977,033. 3.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wedbush dropped their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Maxim Group raised their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Stephens boosted 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 note on Friday, November 1st. Evercore ISI lowered their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. Finally, Truist Financial reduced their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus price target of $127.07.

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.