Sather Financial Group Inc Lowers Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Sather Financial Group Inc decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 50.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,863 shares of the bank’s stock after selling 1,900 shares during the quarter. Sather Financial Group Inc’s holdings in Cullen/Frost Bankers were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Cullen/Frost Bankers by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,252,456 shares of the bank’s stock valued at $826,700,000 after purchasing an additional 234,639 shares during the last quarter. BlackRock Inc. increased its position in shares of Cullen/Frost Bankers by 1.7% during the 1st quarter. BlackRock Inc. now owns 5,818,308 shares of the bank’s stock valued at $612,901,000 after purchasing an additional 97,073 shares during the last quarter. State Street Corp increased its position in shares of Cullen/Frost Bankers by 20.7% during the 2nd quarter. State Street Corp now owns 5,409,625 shares of the bank’s stock valued at $581,697,000 after purchasing an additional 928,420 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Cullen/Frost Bankers by 39.1% during the 1st quarter. Capital Research Global Investors now owns 2,408,656 shares of the bank’s stock worth $333,382,000 after purchasing an additional 676,467 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Cullen/Frost Bankers by 6.3% during the 3rd quarter. FMR LLC now owns 1,476,411 shares of the bank’s stock worth $134,663,000 after purchasing an additional 88,042 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR traded down $0.58 during midday trading on Tuesday, hitting $111.62. The stock had a trading volume of 231,954 shares, compared to its average volume of 412,345. The company has a market capitalization of $7.17 billion, a PE ratio of 12.32, a P/E/G ratio of 1.38 and a beta of 1.04. The stock has a 50 day simple moving average of $107.64 and a 200-day simple moving average of $102.01. Cullen/Frost Bankers, Inc. has a 1 year low of $82.25 and a 1 year high of $120.31. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, January 25th. The bank reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.17. The business had revenue of $523.66 million for the quarter, compared to the consensus estimate of $498.09 million. Cullen/Frost Bankers had a return on equity of 19.66% and a net margin of 22.60%. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.44 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.68 annualized dividend and a dividend yield of 3.30%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 40.44%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CFR shares. Keefe, Bruyette & Woods reduced their target price on Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating on the stock in a research report on Friday, January 26th. Truist Financial increased their price objective on Cullen/Frost Bankers from $114.00 to $121.00 and gave the company a “hold” rating in a report on Monday, April 1st. UBS Group increased their price objective on Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Morgan Stanley increased their price objective on Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of Cullen/Frost Bankers in a report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $117.92.

Insider Activity

In related news, insider Paul Bracher sold 9,820 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at $10,543,972. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Paul Bracher sold 9,820 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at $10,543,972. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Bobby Berman sold 1,312 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the sale, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

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.