Polaris Capital Management LLC Sells 6,200 Shares of Cullen/Frost Bankers, Inc. $CFR

Polaris Capital Management LLC cut its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,900 shares of the bank’s stock after selling 6,200 shares during the period. Cullen/Frost Bankers accounts for approximately 2.1% of Polaris Capital Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Polaris Capital Management LLC’s holdings in Cullen/Frost Bankers were worth $31,426,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in Cullen/Frost Bankers by 61.6% in the first quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock valued at $75,833,000 after acquiring an additional 230,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cullen/Frost Bankers by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 166,900 shares of the bank’s stock valued at $20,896,000 after purchasing an additional 15,063 shares during the period. Geneos Wealth Management Inc. grew its position in Cullen/Frost Bankers by 40.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after purchasing an additional 106 shares during the period. Voya Investment Management LLC increased its stake in Cullen/Frost Bankers by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 7,342 shares of the bank’s stock valued at $919,000 after purchasing an additional 199 shares in the last quarter. Finally, Martin Capital Partners LLC raised its holdings in Cullen/Frost Bankers by 221.2% during the second quarter. Martin Capital Partners LLC now owns 67,030 shares of the bank’s stock worth $8,616,000 after buying an additional 46,163 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $135.03 on Tuesday. The company has a market capitalization of $8.63 billion, a PE ratio of 13.89, a PEG ratio of 2.68 and a beta of 0.63. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $127.03 and its 200-day moving average price is $128.08. Cullen/Frost Bankers, Inc. has a twelve month low of $100.31 and a twelve month high of $146.44.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.29. The company had revenue of $567.27 million during the quarter, compared to the consensus estimate of $565.54 million. Cullen/Frost Bankers had a return on equity of 15.84% and a net margin of 21.99%.During the same period last year, the business posted $2.24 earnings per share. On average, equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, November 28th. Cullen/Frost Bankers’s payout ratio is presently 41.15%.

Insider Activity at Cullen/Frost Bankers

In related news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $127.00, for a total value of $88,900.00. Following the transaction, the executive vice president directly owned 3,795 shares of the company’s stock, valued at approximately $481,965. The trade was a 15.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

CFR has been the subject of a number of analyst reports. Citigroup lifted their price objective on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Cullen/Frost Bankers in a research note on Monday, December 29th. Morgan Stanley boosted their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Barclays dropped their target price on Cullen/Frost Bankers from $145.00 to $140.00 and set an “equal weight” rating on the stock in a report on Friday, December 19th. Finally, Royal Bank Of Canada upped their price target on Cullen/Frost Bankers from $140.00 to $144.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $135.73.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.