Madison Asset Management LLC Sells 3,953 Shares of Cullen/Frost Bankers, Inc. $CFR

Madison Asset Management LLC trimmed its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 377,226 shares of the bank’s stock after selling 3,953 shares during the period. Madison Asset Management LLC owned approximately 0.59% of Cullen/Frost Bankers worth $47,821,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its stake in Cullen/Frost Bankers by 37.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 10,886 shares of the bank’s stock valued at $1,380,000 after buying an additional 2,966 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Cullen/Frost Bankers by 511.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,034 shares of the bank’s stock worth $132,000 after acquiring an additional 865 shares during the last quarter. Carlson Capital L.P. bought a new position in shares of Cullen/Frost Bankers during the third quarter valued at $1,382,000. HighPoint Advisor Group LLC purchased a new stake in Cullen/Frost Bankers during the 3rd quarter valued at about $229,000. Finally, Bessemer Group Inc. increased its stake in Cullen/Frost Bankers by 25.4% during the 3rd quarter. Bessemer Group Inc. now owns 17,343 shares of the bank’s stock valued at $2,199,000 after purchasing an additional 3,512 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $137.07, for a total transaction of $137,070.00. Following the completion of the sale, the executive vice president owned 28,406 shares of the company’s stock, valued at $3,893,610.42. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $127.00, for a total value of $88,900.00. Following the completion of the sale, the executive vice president owned 3,795 shares of the company’s stock, valued at $481,965. This trade represents a 15.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,700 shares of company stock worth $225,970 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CFR shares. Citigroup upped their target price on shares of Cullen/Frost Bankers from $114.00 to $125.00 and gave the stock a “sell” rating in a research note on Monday, February 2nd. Barclays upped their price objective on Cullen/Frost Bankers from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Loop Capital set a $160.00 target price on Cullen/Frost Bankers in a report on Monday, February 2nd. DA Davidson upped their price target on Cullen/Frost Bankers from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada increased their price objective on Cullen/Frost Bankers from $144.00 to $150.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus price target of $140.92.

Cullen/Frost Bankers Stock Down 0.5%

Cullen/Frost Bankers stock opened at $146.40 on Wednesday. Cullen/Frost Bankers, Inc. has a one year low of $100.31 and a one year high of $148.29. The stock has a fifty day moving average of $133.97 and a 200 day moving average of $128.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $9.25 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 5.41 and a beta of 0.65.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, January 29th. The bank reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.09. Cullen/Frost Bankers had a return on equity of 15.49% and a net margin of 22.21%.The business had revenue of $562.58 million during the quarter, compared to the consensus estimate of $578.05 million. During the same period in the previous year, the company posted $2.36 EPS. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, February 27th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 40.32%.

Cullen/Frost Bankers Company Profile

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.