JPMorgan Chase & Co. Decreases Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

JPMorgan Chase & Co. decreased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 7.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 824,965 shares of the bank’s stock after selling 63,779 shares during the period. JPMorgan Chase & Co.’s holdings in Cullen/Frost Bankers were worth $92,281,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Keene & Associates Inc. grew its position in shares of Cullen/Frost Bankers by 1.7% during the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after buying an additional 89 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Cullen/Frost Bankers by 7.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after acquiring an additional 97 shares during the last quarter. Asset Dedication LLC grew its holdings in Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after acquiring an additional 105 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Cullen/Frost Bankers by 18.5% in the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock valued at $76,000 after purchasing an additional 106 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Cullen/Frost Bankers by 169.9% in 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. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 1.1 %

Shares of Cullen/Frost Bankers stock opened at $132.76 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $8.51 billion, a P/E ratio of 16.47, a PEG ratio of 1.66 and a beta of 0.99. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64. The company’s fifty day moving average is $136.52 and its two-hundred day moving average is $119.08.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $2.38 earnings per share. Analysts forecast that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Analysts Set New Price Targets

A number of brokerages recently commented on CFR. Wedbush lowered their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Compass Point increased their price objective on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Royal Bank of Canada raised their target price on 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 upped their price target on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday, November 4th. Finally, 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 report on Friday, November 1st. 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. According to data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and an average target price of $127.07.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CEO Phillip D. Green sold 14,358 shares of the company’s 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 transaction, the chief executive officer now owns 94,423 shares in the company, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock worth $2,977,033 over the last 90 days. 3.00% of the stock is currently owned by insiders.

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.