Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP Howard L. Kasanoff Sells 4,000 Shares

Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction 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 $399,525.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cullen/Frost Bankers Stock Performance

NYSE CFR traded down $2.04 during trading on Tuesday, hitting $140.98. 110,840 shares of the company’s stock traded hands, compared to its average volume of 455,811. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.68 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 12-month low of $91.61 and a 12-month high of $144.89. 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 business has a 50 day moving average of $118.52 and a 200-day moving average of $110.01.

Cullen/Frost Bankers (NYSE:CFR) last announced 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 the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.38 earnings per share. As a group, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd lifted its stake in Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after acquiring an additional 141 shares during the period. 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 buying an additional 105 shares in the last quarter. Allworth Financial LP increased its holdings in Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after buying an additional 239 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Cullen/Frost Bankers in the 3rd quarter worth about $52,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the 2nd quarter valued at about $54,000. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CFR. Morgan Stanley decreased their target price on shares of 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 shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Royal Bank of Canada boosted their price target 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. DA Davidson boosted their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Compass Point boosted their price target on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.86.

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.