Lathrop Investment Management Corp Sells 609 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Lathrop Investment Management Corp trimmed its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,264 shares of the bank’s stock after selling 609 shares during the period. Cullen/Frost Bankers comprises about 1.7% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 27th biggest position. Lathrop Investment Management Corp’s holdings in Cullen/Frost Bankers were worth $9,314,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CFR. Covestor Ltd lifted its holdings in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Asset Dedication LLC raised its position in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after buying an additional 105 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after buying an additional 239 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Cullen/Frost Bankers during the third quarter worth $52,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Cullen/Frost Bankers during the second quarter valued at $54,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the sale, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at $13,026,597.08. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock worth $2,977,033 over the last three months. 2.89% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Trading Up 1.3 %

NYSE CFR opened at $139.53 on Friday. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $144.89. The company’s 50-day moving average price is $122.74 and its 200-day moving average price is $111.60. The stock has a market cap of $8.95 billion, a PE ratio of 17.31, a PEG ratio of 1.67 and a beta of 0.98. 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 (NYSE:CFR) last announced its quarterly 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 analyst estimates of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. Cullen/Frost Bankers’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.38 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.72%. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Analyst Ratings Changes

CFR has been the topic of a number of research analyst reports. Evercore ISI decreased their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley lowered their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada boosted their target price on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Stephens upped their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, 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. Four 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. According to MarketBeat.com, Cullen/Frost Bankers has a consensus rating of “Hold” and an average price target of $123.86.

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.