Davis R M Inc. Trims Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Davis R M Inc. cut its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 50.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,212 shares of the bank’s stock after selling 4,227 shares during the period. Davis R M Inc.’s holdings in Cullen/Frost Bankers were worth $565,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new position in Cullen/Frost Bankers in the 3rd quarter worth approximately $1,853,000. Atria Investments Inc raised its position in shares of Cullen/Frost Bankers by 5.2% during the third quarter. Atria Investments Inc now owns 17,064 shares of the bank’s stock valued at $1,909,000 after buying an additional 840 shares during the last quarter. Covestor Ltd lifted its holdings in shares of 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 buying an additional 141 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Cullen/Frost Bankers by 40.2% during the third quarter. Crossmark Global Holdings Inc. now owns 5,095 shares of the bank’s stock worth $570,000 after acquiring an additional 1,462 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Cullen/Frost Bankers during the third quarter valued at $3,999,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $122.18 on Wednesday. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $147.64. The company’s 50-day moving average is $137.98 and its 200 day moving average is $129.88. The firm has a market capitalization of $7.85 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 6.46 and a beta of 0.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.68 and a quick ratio of 0.68.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. Research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, February 28th. Cullen/Frost Bankers’s dividend payout ratio is currently 42.84%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the sale, the insider now directly owns 102,946 shares of the company’s stock, valued at $14,355,819.70. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

CFR has been the topic of several research reports. Compass Point lifted their target price on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Evercore ISI lifted their price objective on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a research note on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $144.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. DA Davidson cut shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $138.00 to $143.00 in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $132.54.

About Cullen/Frost Bankers

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.