14,176 Shares in Cullen/Frost Bankers, Inc. (NYSE:CFR) Bought by National Bank of Canada FI

National Bank of Canada FI bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 14,176 shares of the bank’s stock, valued at approximately $1,586,000.

Other institutional investors have also added to or reduced their stakes in the company. Boston Trust Walden Corp purchased a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at $107,166,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Cullen/Frost Bankers during the third quarter valued at about $54,012,000. Deprince Race & Zollo Inc. bought a new stake in Cullen/Frost Bankers during the second quarter worth about $37,813,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Cullen/Frost Bankers by 117.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank’s stock worth $63,618,000 after purchasing an additional 307,129 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its position in shares of Cullen/Frost Bankers by 7,109.7% during 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 during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction dated 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 approximately $13,026,597.08. This represents a 13.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,864 shares of company stock valued at $2,977,033. Corporate insiders own 2.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Evercore ISI dropped their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wedbush decreased their target price on shares of 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. Maxim Group increased their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Truist Financial dropped their price target 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. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $127.07.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $137.80 on Friday. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64. The firm has a market capitalization of $8.84 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. The company has a 50-day simple moving average of $132.55 and a two-hundred day simple moving average of $115.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. The business 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%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.38 earnings per share. On average, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

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.