390 Shares in Cullen/Frost Bankers, Inc. (NYSE:CFR) Bought by Brooklyn Investment Group

Brooklyn Investment Group purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 390 shares of the bank’s stock, valued at approximately $44,000.

Other institutional investors have also bought and sold shares of the company. Tidal Investments LLC grew its holdings in Cullen/Frost Bankers by 125.2% during the first quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock worth $1,338,000 after buying an additional 6,610 shares in the last quarter. American Century Companies Inc. grew its stake in Cullen/Frost Bankers by 11.9% in the 2nd quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock valued at $6,941,000 after purchasing an additional 7,236 shares during the period. Raymond James & Associates grew 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 period. Pathstone Holdings LLC grew 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 valued at $2,156,000 after purchasing an additional 5,981 shares during the period. Finally, Strategic Financial Concepts LLC grew its stake in Cullen/Frost Bankers by 7,109.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after purchasing an additional 247,416 shares during the period. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $140.70 on Friday. The stock’s 50-day simple moving average is $126.53 and its 200 day simple moving average is $113.05. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a 52-week low of $94.09 and a 52-week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data 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 business had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 EPS. Research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.73 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have issued reports on CFR shares. Stephens upped their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Wedbush reduced their price objective on 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. Citigroup upped their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Compass Point upped their price target on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Truist Financial dropped their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.86.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. This represents a 11.62 % decrease in their position. The sale was disclosed in a legal 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 dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the transaction, the executive vice president now owns 2,888 shares in the company, valued at $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,864 shares of company stock worth $2,977,033 in the last ninety days. 2.89% 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.