Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd cut its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,418 shares of the bank’s stock after selling 337 shares during the quarter. Quadrature Capital Ltd’s holdings in Cullen/Frost Bankers were worth $719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CFR. Champlain Investment Partners LLC boosted its stake in Cullen/Frost Bankers by 7.7% during the third quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock worth $381,897,000 after buying an additional 244,445 shares during the period. Montrusco Bolton Investments Inc. lifted its holdings in shares of Cullen/Frost Bankers by 10.2% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock worth $135,252,000 after acquiring an additional 111,719 shares during the last quarter. Boston Trust Walden Corp purchased a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $107,166,000. Dimensional Fund Advisors LP increased its holdings in Cullen/Frost Bankers by 14.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock valued at $96,856,000 after purchasing an additional 120,333 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Cullen/Frost Bankers by 3.3% in the third quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank’s stock valued at $90,185,000 after purchasing an additional 25,909 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CFR shares. Citigroup raised their price target on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Maxim Group lifted their target price 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. Stephens increased their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Compass Point lifted their price objective on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Wedbush reduced their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $125.43.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $138.26 on Friday. The stock has a market cap of $8.87 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. The company has a fifty day simple moving average of $129.80 and a 200-day simple moving average of $114.49. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. During the same period in the prior year, the firm posted $2.38 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business 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 $0.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.75%. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Insiders Place Their Bets

In other news, 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 sale, the executive vice president now owns 2,888 shares in the company, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now owns 94,423 shares in the company, valued at $13,026,597.08. This trade 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 owned by corporate 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.