Harbor Capital Advisors Inc. Sells 243 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Harbor Capital Advisors Inc. decreased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,353 shares of the bank’s stock after selling 243 shares during the period. Harbor Capital Advisors Inc.’s holdings in Cullen/Frost Bankers were worth $182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Keene & Associates Inc. grew its stake in Cullen/Frost Bankers by 1.7% in the 3rd quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after buying an additional 89 shares in the last quarter. Asset Dedication LLC grew its position in 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 acquiring an additional 105 shares in the last quarter. GAMMA Investing LLC grew its position in Cullen/Frost Bankers by 18.5% in the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after acquiring an additional 106 shares in the last quarter. Covestor Ltd increased its stake in Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Cullen/Frost Bankers by 2.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank’s stock valued at $600,000 after purchasing an additional 156 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Price Performance

CFR stock opened at $140.66 on Thursday. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.66 and a beta of 1.00. The firm’s 50-day moving average price is $137.58 and its two-hundred day moving average price is $121.56. 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, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. The company had revenue of $518.04 million for the quarter, compared to analysts’ expectations 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 period last year, the firm earned $2.38 earnings per share. As a group, equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.70%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Insider Activity

In related news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the sale, the executive vice president now owns 2,888 shares in the company, valued at $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction on 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 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 three months, insiders have sold 21,864 shares of company stock valued at $2,977,033. Company insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Compass Point increased their price objective on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price target on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens lifted their price target 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. Citigroup upped their price objective on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Finally, Morgan Stanley reduced their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $127.07.

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.