Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Bought by Barclays PLC

Barclays PLC lifted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 234.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 436,393 shares of the bank’s stock after purchasing an additional 305,921 shares during the period. Barclays PLC’s holdings in Cullen/Frost Bankers were worth $48,814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Pathstone Holdings LLC increased its stake in Cullen/Frost Bankers by 45.0% during the 3rd quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock worth $2,156,000 after buying an additional 5,981 shares in the last quarter. American Century Companies Inc. increased its position in shares of Cullen/Frost Bankers by 11.9% during the second quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock worth $6,941,000 after purchasing an additional 7,236 shares in the last quarter. Raymond James & Associates raised its stake in Cullen/Frost Bankers by 10.0% in the 3rd quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock valued at $13,361,000 after purchasing an additional 10,884 shares during the last quarter. Hancock Whitney Corp purchased a new position in Cullen/Frost Bankers in the 3rd quarter valued at $784,000. Finally, Strategic Financial Concepts LLC boosted its stake in Cullen/Frost Bankers by 7,109.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock worth $255,000 after purchasing an additional 247,416 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Transactions at Cullen/Frost Bankers

In other news, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on 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 transaction, the executive vice president now owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This trade 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 worth $2,977,033 over the last ninety days. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Down 0.6 %

Shares of CFR opened at $137.55 on Friday. The company’s 50-day moving average price is $132.06 and its 200 day moving average price is $115.38. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a market cap of $8.82 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating 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 business earned $2.38 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CFR shares. Citigroup raised their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Morgan Stanley lowered their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. Wedbush dropped their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods lifted their price objective on Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Compass Point upped their target price on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday. Four 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 an average rating of “Hold” and a consensus target price of $127.07.

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.