Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,164 shares of the bank’s stock after purchasing an additional 77 shares during the quarter. Ballentine Partners LLC’s holdings in Cullen/Frost Bankers were worth $291,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CFR. Covestor Ltd lifted its position in shares of Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after buying an additional 141 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Cullen/Frost Bankers in the third quarter worth about $29,000. Asset Dedication LLC boosted its stake in Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares during the period. UMB Bank n.a. grew its holdings in shares of Cullen/Frost Bankers by 45.8% during the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $44,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $138.96 on Friday. The company has a 50-day moving average of $137.79 and a two-hundred day moving average of $123.46. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.73 and a beta of 1.00. 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, Inc. has a one year low of $94.09 and a one year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data 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 firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same quarter last year, the business posted $2.38 EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.76 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. Shareholders of record on Friday, November 29th were paid a $0.95 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.73%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

Analyst Upgrades and Downgrades

CFR has been the subject of a number of analyst reports. Maxim Group boosted their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods boosted their price target on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Compass Point increased their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Stephens lifted their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, Evercore ISI decreased their target price on shares of 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. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $127.07.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Phillip D. Green sold 14,358 shares of the business’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 directly owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,864 shares of company stock valued at $2,977,033. 2.89% of the stock is currently owned by corporate insiders.

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.