Insider Selling: Cullen/Frost Bankers (NYSE:CFR) EVP Sells $377,982.60 in Stock

Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP Bobby Berman sold 2,406 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $157.10, for a total value of $377,982.60. Following the sale, the executive vice president owned 28,406 shares of the company’s stock, valued at $4,462,582.60. The trade was a 7.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Cullen/Frost Bankers Trading Up 1.4%

NYSE CFR traded up $2.28 during mid-day trading on Monday, hitting $159.88. The company’s stock had a trading volume of 125,468 shares, compared to its average volume of 546,708. The firm has a market capitalization of $9.94 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. Cullen/Frost Bankers, Inc. has a 52-week low of $119.14 and a 52-week high of $170.80. The stock’s fifty day simple moving average is $157.79 and its two-hundred day simple moving average is $148.83.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 29th. The bank reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $603.83 million during the quarter, compared to analysts’ expectations of $610.19 million. Cullen/Frost Bankers had a net margin of 23.37% and a return on equity of 16.27%. During the same period in the prior year, the company posted $2.67 EPS. Research analysts expect that Cullen/Frost Bankers, Inc. will post 10.97 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, November 30th. Cullen/Frost Bankers’s payout ratio is 38.33%.

Analyst Ratings Changes

A number of brokerages have weighed in on CFR. Keefe, Bruyette & Woods downgraded shares of Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating and cut their price target for the company from $180.00 to $175.00 in a report on Monday. Wall Street Zen raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Research cut shares of Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Jefferies Financial Group raised shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and upped their price target for the stock from $135.00 to $160.00 in a research note on Monday, July 6th. Finally, Royal Bank Of Canada cut their price objective on Cullen/Frost Bankers from $176.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, October 9th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $171.55.

Hedge Funds Weigh In On Cullen/Frost Bankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GK Wealth Management LLC bought a new stake in Cullen/Frost Bankers in the third quarter valued at about $32,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Cullen/Frost Bankers in the second quarter worth about $37,000. Global Retirement Partners LLC bought a new stake in Cullen/Frost Bankers in the second quarter valued at about $38,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Cullen/Frost Bankers in the 1st quarter valued at approximately $41,000. Finally, Root Financial Partners LLC boosted its holdings in shares of Cullen/Frost Bankers by 90.0% in the first quarter. Root Financial Partners LLC now owns 435 shares of the bank’s stock valued at $60,000 after buying an additional 206 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.

Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.