Cullen/Frost Bankers, Inc. $CFR Stock Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Cullen/Frost Bankers stake by 13.7% in the third quarter, selling 100,457 shares. It still held 631,874 shares, valued at about $96.5 million.
• Cullen/Frost reported quarterly EPS of $2.84, above the $2.80 consensus, while revenue of $603.83 million fell short of analysts’ $610.19 million estimate.
• The bank declared a quarterly dividend of $1.03 per share, equivalent to a 2.6% yield. Analysts’ consensus rating was Hold, with an average price target of $171.55.

Boston Trust Walden Corp lowered its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 13.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 631,874 shares of the bank's stock after selling 100,457 shares during the quarter. Cullen/Frost Bankers comprises 0.8% of Boston Trust Walden Corp's investment portfolio, making the stock its 27th biggest holding. Boston Trust Walden Corp owned about 1.02% of Cullen/Frost Bankers worth $96,468,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CFR. BlackRock Inc. bought a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth about $1,133,453,000. State Street Corp lifted its stake in shares of Cullen/Frost Bankers by 3.8% in the 2nd quarter. State Street Corp now owns 3,218,249 shares of the bank's stock valued at $497,292,000 after purchasing an additional 118,313 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Cullen/Frost Bankers by 22.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank's stock valued at $429,204,000 after purchasing an additional 511,784 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Cullen/Frost Bankers by 18.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank's stock valued at $209,833,000 after purchasing an additional 236,808 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Cullen/Frost Bankers by 11.8% during the 1st quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank's stock valued at $165,966,000 after purchasing an additional 127,483 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 2,406 shares of the firm's stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $157.10, for a total value of $377,982.60. Following the completion of the sale, the executive vice president owned 28,406 shares of the company's stock, valued at approximately $4,462,582.60. This trade represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew Bradley Henson sold 534 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $159.72, for a total value of $85,290.48. Following the sale, the chief accounting officer owned 317 shares of the company's stock, valued at approximately $50,631.24. This represents a 62.75% decrease in their position. The SEC filing for this sale provides additional information. 1.14% of the stock is currently owned by corporate insiders.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $159.67 on Thursday. The firm's 50-day moving average price is $157.53 and its 200-day moving average price is $149.17. Cullen/Frost Bankers, Inc. has a 1-year low of $119.14 and a 1-year high of $170.80. The firm has a market capitalization of $9.93 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.70 and a beta of 0.52. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. Cullen/Frost Bankers had a net margin of 23.37% and a return on equity of 16.27%. The company had revenue of $603.83 million for the quarter, compared to analysts' expectations of $610.19 million. During the same quarter in the prior year, the firm earned $2.67 EPS. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 11.00 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CFR shares. Royal Bank Of Canada decreased their target price on Cullen/Frost Bankers from $176.00 to $175.00 and set a "sector perform" rating for the company in a research note on Friday, October 9th. Wall Street Zen raised Cullen/Frost Bankers from a "sell" rating to a "hold" rating in a research note on Saturday, October 31st. Cantor Fitzgerald cut their price target on Cullen/Frost Bankers from $175.00 to $167.00 and set a "neutral" rating on the stock in a report on Wednesday, October 14th. Barclays raised their price objective on shares of Cullen/Frost Bankers from $160.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Monday, October 5th. Finally, TD Cowen lowered their price objective on shares of Cullen/Frost Bankers from $185.00 to $178.00 and set a "buy" rating for the company in a research note on Monday, October 5th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of "Hold" and an average target price of $171.55.

Cullen/Frost Bankers 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.

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