Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ cut its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 23.6% in the fourth quarter, Holdings Channel reports. The firm owned 5,572 shares of the bank’s stock after selling 1,720 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Cullen/Frost Bankers were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC boosted its stake in Cullen/Frost Bankers by 30.3% in the 3rd quarter. Tidal Investments LLC now owns 18,689 shares of the bank’s stock worth $2,091,000 after purchasing an additional 4,348 shares in the last quarter. Pathstone Holdings LLC boosted its stake in Cullen/Frost Bankers by 45.0% in the 3rd quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock worth $2,156,000 after purchasing an additional 5,981 shares in the last quarter. Barclays PLC boosted its stake in Cullen/Frost Bankers by 234.5% in the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank’s stock worth $48,814,000 after purchasing an additional 305,921 shares in the last quarter. Raymond James & Associates boosted 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 worth $13,361,000 after purchasing an additional 10,884 shares in the last quarter. Finally, Hancock Whitney Corp acquired a new stake in Cullen/Frost Bankers in the 3rd quarter worth approximately $784,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 sale, the chief executive officer now owns 94,423 shares of the company’s stock, valued at $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at $399,525.92. The trade was a 58.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,858 shares of company stock valued at $4,137,865. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CFR has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a research note on Monday. DA Davidson cut shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $138.00 to $143.00 in a research note on Monday. Compass Point lifted their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Maxim Group lifted their price objective 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $144.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and an average target price of $130.31.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $138.70 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. The company has a 50 day moving average price of $137.63 and a 200-day moving average price of $125.28. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 16.04%. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.66 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, February 28th. Cullen/Frost Bankers’s payout ratio is presently 42.84%.

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.