Hancock Whitney Corp Takes Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Hancock Whitney Corp bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 7,006 shares of the bank’s stock, valued at approximately $784,000.

Several other institutional investors also recently bought and sold shares of the stock. Champlain Investment Partners LLC boosted its position in Cullen/Frost Bankers by 7.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock worth $381,897,000 after purchasing an additional 244,445 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its stake in shares of Cullen/Frost Bankers by 10.2% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock valued at $135,252,000 after purchasing an additional 111,719 shares during the period. Boston Trust Walden Corp purchased a new stake in Cullen/Frost Bankers during the third quarter worth $107,166,000. Dimensional Fund Advisors LP grew its position in Cullen/Frost Bankers by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock valued at $96,856,000 after buying an additional 120,333 shares during the period. Finally, Principal Financial Group Inc. grew its position in Cullen/Frost Bankers by 3.3% during the third quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank’s stock valued at $90,185,000 after buying an additional 25,909 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $142.91 on Wednesday. The stock’s fifty day moving average is $124.74 and its two-hundred day moving average is $112.39. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $9.16 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.73 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released 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 business had revenue of $518.04 million for 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%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 EPS. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.73 EPS 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. Shareholders of record on Friday, November 29th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CFR. Stephens increased their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Truist Financial lowered their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Maxim Group upped their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Evercore ISI cut their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Citigroup boosted their price target 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 investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average target price of $123.86.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the transaction, the chief executive officer now owns 94,423 shares in the company, valued at $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,864 shares of company stock worth $2,977,033 over the last ninety days. 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.