Cullen/Frost Bankers (NYSE:CFR) Insider Sells $458,896.00 in Stock

Key Points

• Insider Paul Bracher sold 2,900 Cullen/Frost Bankers shares at an average price of $158.24, totaling $458,896; he retained 108,736 shares after the sale.
• The bank’s latest quarterly earnings beat estimates, reporting $2.84 per share versus the $2.80 consensus, while revenue of $603.83 million fell short of forecasts.
• Cullen/Frost announced a quarterly dividend of $1.03 per share, equivalent to a 2.6% yield. Analysts’ consensus rating is Hold, with an average price target of $171.55.

Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) insider Paul Bracher sold 2,900 shares of Cullen/Frost Bankers stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $158.24, for a total transaction of $458,896.00. Following the transaction, the insider directly owned 108,736 shares in the company, valued at approximately $17,206,384.64. This represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock traded up $3.00 during trading on Monday, hitting $158.23. The company's stock had a trading volume of 39,950 shares, compared to its average volume of 545,561. The company has a market cap of $9.84 billion, a PE ratio of 14.70, a P/E/G ratio of 1.66 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. The business has a fifty day moving average of $157.27 and a 200-day moving average of $149.35. Cullen/Frost Bankers, Inc. has a 52 week low of $119.14 and a 52 week high of $170.80.

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

Cullen/Frost Bankers Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on CFR shares. DA Davidson increased their price target on shares of Cullen/Frost Bankers from $164.00 to $168.00 and gave the company a "neutral" rating in a research report on Friday, October 30th. Zacks Research downgraded shares of Cullen/Frost Bankers from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 3rd. Cantor Fitzgerald lowered their price objective on shares of Cullen/Frost Bankers from $175.00 to $167.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 14th. Barclays boosted their target price on shares of Cullen/Frost Bankers from $160.00 to $175.00 and gave the company an "equal weight" rating in a research note on Monday, October 5th. Finally, Wall Street Zen upgraded shares of Cullen/Frost Bankers from a "sell" rating to a "hold" rating in a research note on Saturday, October 31st. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $171.55.

Institutional Trading of Cullen/Frost Bankers

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Cullen/Frost Bankers in the second quarter worth approximately $1,133,453,000. State Street Corp raised its stake in shares of Cullen/Frost Bankers by 3.8% during the second quarter. State Street Corp now owns 3,218,249 shares of the bank's stock worth $497,292,000 after acquiring an additional 118,313 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Cullen/Frost Bankers by 22.6% during the second quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank's stock worth $429,204,000 after acquiring an additional 511,784 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cullen/Frost Bankers by 18.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank's stock worth $209,833,000 after acquiring an additional 236,808 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Cullen/Frost Bankers by 11.8% in the 1st quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank's stock worth $165,966,000 after acquiring an additional 127,483 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

About Cullen/Frost Bankers

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

Frost Bank's services include consumer and commercial banking, lending, treasury management, and wealth management, including trust and investment services. The company primarily serves customers across Texas through its branches and digital banking channels.

The company traces its roots to 1868, when Thomas Claiborne Frost established a mercantile business in San Antonio; banking became part of the business later in the 19th century.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.