Bank of Montreal Can Sells 111,453 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bank of Montreal Can decreased its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 83.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,165 shares of the bank's stock after selling 111,453 shares during the quarter. Bank of Montreal Can's holdings in Cullen/Frost Bankers were worth $2,976,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Arizona State Retirement System increased its position in shares of Cullen/Frost Bankers by 0.4% during the fourth quarter. Arizona State Retirement System now owns 17,651 shares of the bank's stock worth $2,370,000 after acquiring an additional 74 shares during the period. Ballentine Partners LLC boosted its stake in shares of Cullen/Frost Bankers by 3.7% in the 4th quarter. Ballentine Partners LLC now owns 2,164 shares of the bank's stock valued at $291,000 after buying an additional 77 shares during the period. UMB Bank n.a. grew its position in shares of Cullen/Frost Bankers by 45.8% during the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank's stock worth $33,000 after buying an additional 77 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Cullen/Frost Bankers by 4.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,086 shares of the bank's stock worth $280,000 after acquiring an additional 86 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in Cullen/Frost Bankers by 4.2% in the fourth quarter. Strategic Financial Concepts LLC now owns 2,187 shares of the bank's stock valued at $294,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Price Performance

NYSE:CFR traded down $1.77 during mid-day trading on Monday, reaching $109.83. 29,194 shares of the stock were exchanged, compared to its average volume of 497,523. The business has a fifty day moving average price of $124.91 and a 200 day moving average price of $131.20. The firm has a market capitalization of $7.06 billion, a PE ratio of 12.41, a PEG ratio of 6.46 and a beta of 0.82. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. Research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.46%. The ex-dividend date was Friday, February 28th. Cullen/Frost Bankers's dividend payout ratio is 42.84%.

Insider Activity

In other news, insider Paul Bracher sold 11,500 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the completion of the sale, the insider now owns 102,946 shares in the company, valued at approximately $14,355,819.70. This represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.89% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays started coverage on shares of Cullen/Frost Bankers in a report on Tuesday, April 1st. They set an "equal weight" rating and a $130.00 price target for the company. Royal Bank of Canada restated a "sector perform" rating and set a $144.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Evercore ISI lifted their price target on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an "underperform" rating in a report on Monday, February 10th. Finally, Morgan Stanley reduced their price objective on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating on the stock in a research note on Thursday, March 13th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Cullen/Frost Bankers presently has an average rating of "Hold" and an average price target of $132.57.

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.