Insider Selling: Cullen/Frost Bankers (NYSE:CFR) EVP Sells 2,406 Shares of Company Stock

Key Points

• Insider sale: Cullen/Frost Bankers EVP Bobby Berman sold 2,406 shares at an average price of $157.10, generating $377,982.60 and reducing his ownership by 7.81% to 28,406 shares.
• Operating performance: The stock rose 1.4% to $159.88, while quarterly EPS of $2.84 exceeded analysts’ $2.80 estimate; revenue of $603.83 million fell short of the $610.19 million forecast.
• Dividend and outlook: Cullen/Frost declared a quarterly dividend of $1.03, equating to a 2.6% yield. Analysts have a consensus “Hold” rating with an average price target of $171.55.

Cullen/Frost Bankers, Inc. (NYSE:CFR - Get Free Report) EVP Bobby Berman sold 2,406 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $157.10, for a total transaction of $377,982.60. Following the completion of the sale, the executive vice president directly owned 28,406 shares in the company, valued at approximately $4,462,582.60. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Cullen/Frost Bankers Stock Up 1.4%

NYSE:CFR traded up $2.28 during trading hours 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. Cullen/Frost Bankers, Inc. has a 52-week low of $119.14 and a 52-week high of $170.80. 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 stock 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 stock has a fifty day moving average of $157.79 and a 200-day moving average of $148.83.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $603.83 million for the quarter, compared to analyst estimates of $610.19 million. Cullen/Frost Bankers had a return on equity of 16.27% and a net margin of 23.37%. During the same quarter last year, the company posted $2.67 earnings per share. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 10.97 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

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

Wall Street Analyst Weigh In

CFR has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Cullen/Frost Bankers from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reissued a "buy (b)" rating on shares of Cullen/Frost Bankers in a research note on Tuesday, October 13th. Stephens upped their target price on Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Cantor Fitzgerald dropped their price target on Cullen/Frost Bankers from $175.00 to $167.00 and set a "neutral" rating for the company in a research report on Wednesday, October 14th. Finally, DA Davidson lifted their price target on Cullen/Frost Bankers from $164.00 to $168.00 and gave the stock a "neutral" rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $171.55.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of large investors have recently bought and sold shares of CFR. Pathway Financial Advisers LLC grew its holdings in shares of Cullen/Frost Bankers by 9.6% during the third quarter. Pathway Financial Advisers LLC now owns 10,302 shares of the bank's stock worth $1,573,000 after buying an additional 899 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new position in shares of Cullen/Frost Bankers during the third quarter valued at approximately $330,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Cullen/Frost Bankers by 396.6% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 29,050 shares of the bank's stock worth $4,435,000 after acquiring an additional 23,200 shares during the last quarter. D.A. Davidson & CO. grew its stake in Cullen/Frost Bankers by 4.4% in the 3rd quarter. D.A. Davidson & CO. now owns 1,947 shares of the bank's stock worth $297,000 after acquiring an additional 82 shares during the period. Finally, BOKF NA grew its stake in Cullen/Frost Bankers by 7,535.2% in the 3rd quarter. BOKF NA now owns 41,230 shares of the bank's stock worth $6,295,000 after acquiring an additional 40,690 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

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.

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.