UMB Bank n.a. Raises Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

UMB Bank n.a. increased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 45.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 245 shares of the bank’s stock after purchasing an additional 77 shares during the period. UMB Bank n.a.’s holdings in Cullen/Frost Bankers were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CFR. Covestor Ltd boosted its position in shares of Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after buying an additional 141 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Cullen/Frost Bankers in the 3rd quarter worth approximately $29,000. 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 valued at $30,000 after acquiring an additional 105 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Cullen/Frost Bankers during the third quarter valued at approximately $44,000. Finally, Allworth Financial LP raised its stake in shares of Cullen/Frost Bankers by 116.6% during the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Trading Down 0.9 %

Cullen/Frost Bankers stock opened at $138.96 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64. The firm’s 50-day moving average is $137.79 and its 200-day moving average is $123.63. The company has a market cap of $8.91 billion, a P/E ratio of 17.24, a PEG ratio of 1.73 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $518.04 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 earnings per share. On average, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.76 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the sale, the executive vice president now owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Phillip D. Green sold 14,358 shares of the business’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 value of $1,980,829.68. Following the transaction, the chief executive officer now owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. This represents a 13.20 % 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 worth $2,977,033. 2.89% of the stock is owned by insiders.

Analyst Ratings Changes

CFR has been the subject of several analyst reports. Maxim Group upped their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. 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 report on Wednesday, December 4th. Citigroup lifted their target price 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. Compass Point increased their price target on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley dropped their price objective on 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $127.07.

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.