Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,776 shares of the bank’s stock after selling 1,073 shares during the quarter. Victory Capital Management Inc.’s holdings in Cullen/Frost Bankers were worth $1,317,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CFR. Keene & Associates Inc. boosted its position in shares of Cullen/Frost Bankers by 1.7% during the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after buying an additional 89 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Cullen/Frost Bankers by 7.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after acquiring an additional 97 shares during the period. Asset Dedication LLC grew its stake in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Cullen/Frost Bankers by 18.5% during the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock valued at $76,000 after purchasing an additional 106 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Cullen/Frost Bankers by 6.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock valued at $237,000 after purchasing an additional 137 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Evercore ISI lowered their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Truist Financial cut 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 report on Friday, September 20th. Royal Bank of Canada lifted their price objective on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Finally, Stephens boosted 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 report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $123.86.

Cullen/Frost Bankers Trading Down 0.7 %

CFR opened at $142.91 on Wednesday. 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, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. The company’s 50 day moving average price is $124.74 and its two-hundred day moving average price is $112.39. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.72 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same period in the previous year, the firm earned $2.38 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was 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. The trade was a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the completion of the transaction, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. This trade represents a 13.20 % 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 valued at $2,977,033 over the last three months. Corporate insiders own 2.89% of the company’s stock.

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.