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

Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the sale, the executive vice president now directly owns 2,888 shares in the company, valued at $399,525.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cullen/Frost Bankers Stock Down 1.4 %

CFR opened at $141.01 on Wednesday. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.73 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 current ratio of 0.66 and a quick ratio of 0.66. The business has a 50-day moving average of $119.09 and a two-hundred day moving average of $110.25.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $518.04 million during 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%. Cullen/Frost Bankers’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.38 earnings per share. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Cullen/Frost Bankers by 40.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock worth $155,000 after purchasing an additional 395 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Cullen/Frost Bankers by 35.2% in the first quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank’s stock worth $1,866,000 after acquiring an additional 4,317 shares in the last quarter. Sei Investments Co. raised its stake in shares of Cullen/Frost Bankers by 15.9% in the 1st quarter. Sei Investments Co. now owns 377,920 shares of the bank’s stock valued at $42,543,000 after acquiring an additional 51,808 shares during the period. Qsemble Capital Management LP acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter valued at $228,000. Finally, First National Bank of Hutchinson boosted its position in Cullen/Frost Bankers by 1.6% during the 1st quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CFR shares. Morgan Stanley lowered their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research note on Monday, September 30th. Truist Financial dropped their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Evercore ISI reduced their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Wedbush dropped their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Finally, Compass Point upped their price objective 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. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.