Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 272,500 shares of the bank’s stock after selling 2,275 shares during the quarter. ProShare Advisors LLC owned approximately 0.43% of Cullen/Frost Bankers worth $27,694,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CFR. Norges Bank acquired a new stake in shares of Cullen/Frost Bankers during the fourth quarter worth about $72,627,000. Champlain Investment Partners LLC boosted its position in Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after buying an additional 495,215 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of Cullen/Frost Bankers by 7,109.7% in the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock worth $255,000 after acquiring an additional 247,416 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Cullen/Frost Bankers by 44.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after acquiring an additional 244,197 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Cullen/Frost Bankers by 18.8% in the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after acquiring an additional 161,580 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Down 1.5 %

CFR opened at $112.54 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 52 week low of $82.25 and a 52 week high of $123.17. The business’s 50 day moving average is $110.88 and its two-hundred day moving average is $106.87. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, beating the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The firm had revenue of $528.81 million during the quarter, compared to the consensus estimate of $506.83 million. During the same quarter in the prior year, the firm earned $2.47 EPS. On average, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.95 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.38%. Cullen/Frost Bankers’s dividend payout ratio is 44.92%.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Morgan Stanley lowered shares of Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $112.00 to $121.00 in a research note on Monday, August 5th. Maxim Group lifted their price target on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Stephens increased their price objective on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, Wedbush raised their price objective on shares of Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $119.71.

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.