Sather Financial Group Inc Acquires Shares of 1,863 Cullen/Frost Bankers, Inc. (NYSE:CFR)

Sather Financial Group Inc acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the third quarter, HoldingsChannel reports. The institutional investor acquired 1,863 shares of the bank’s stock, valued at approximately $208,000.

Several other large investors also recently modified their holdings of CFR. Boston Trust Walden Corp purchased a new position in Cullen/Frost Bankers in the third quarter valued at about $107,166,000. Champlain Investment Partners LLC raised its holdings in Cullen/Frost Bankers by 18.4% in the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after acquiring an additional 495,215 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Cullen/Frost Bankers during the 3rd quarter worth $54,012,000. Deprince Race & Zollo Inc. bought a new stake in shares of Cullen/Frost Bankers in the 2nd quarter worth about $37,813,000. Finally, Strategic Financial Concepts LLC raised its stake in shares of 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 in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Down 0.2 %

NYSE CFR opened at $139.27 on Friday. The company has a market capitalization of $8.93 billion, a P/E ratio of 17.28, a PEG ratio of 1.68 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 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 company’s 50 day simple moving average is $120.88 and its 200 day simple moving average is $110.93.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating 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 the consensus estimate of $517.25 million. During the same period in the prior year, the business posted $2.38 earnings per share. Cullen/Frost Bankers’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share 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. Stockholders of record on Friday, November 29th will be issued a $0.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.73%. Cullen/Frost Bankers’s dividend payout ratio is 47.15%.

Analysts Set New Price Targets

Several research analysts have recently commented on CFR shares. DA Davidson lifted their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Truist Financial lowered 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 report on Friday, September 20th. Evercore ISI cut their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Wedbush dropped their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, Citigroup increased their target price 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. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $123.86.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the transaction, the executive vice president now 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the business’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 sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at $399,525.92. This represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. 2.89% of the stock is owned by insiders.

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.