Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,306 shares of the bank's stock after selling 25,496 shares during the period. Raymond James & Associates owned about 0.28% of Cullen/Frost Bankers worth $19,344,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CFR. Vanguard Group Inc. increased its stake in shares of Cullen/Frost Bankers by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,252,456 shares of the bank's stock valued at $826,700,000 after acquiring an additional 234,639 shares in the last quarter. BlackRock Inc. increased its stake in shares of Cullen/Frost Bankers by 1.7% in the 1st quarter. BlackRock Inc. now owns 5,818,308 shares of the bank's stock valued at $612,901,000 after acquiring an additional 97,073 shares in the last quarter. State Street Corp increased its stake in shares of Cullen/Frost Bankers by 20.7% in the 2nd quarter. State Street Corp now owns 5,409,625 shares of the bank's stock valued at $581,697,000 after acquiring an additional 928,420 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Cullen/Frost Bankers by 39.1% in the 1st quarter. Capital Research Global Investors now owns 2,408,656 shares of the bank's stock valued at $333,382,000 after acquiring an additional 676,467 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Cullen/Frost Bankers by 6.3% in the 3rd quarter. FMR LLC now owns 1,476,411 shares of the bank's stock valued at $134,663,000 after acquiring an additional 88,042 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul Bracher sold 9,820 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the sale, the insider now owns 96,380 shares of the company's stock, valued at $10,543,972. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares in the company, valued at $2,934,204.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Bracher sold 9,820 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the completion of the transaction, the insider now owns 96,380 shares of the company's stock, valued at approximately $10,543,972. The disclosure for this sale can be found here. Insiders own 3.00% of the company's stock.

Cullen/Frost Bankers Price Performance

Shares of CFR traded down $1.76 during midday trading on Tuesday, hitting $110.21. 285,847 shares of the company traded hands, compared to its average volume of 423,842. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a 50-day moving average of $107.42 and a 200-day moving average of $101.41. The firm has a market cap of $7.08 billion, a P/E ratio of 12.17, a PEG ratio of 1.40 and a beta of 1.04. Cullen/Frost Bankers, Inc. has a one year low of $82.25 and a one year high of $120.31.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.17. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. The business had revenue of $523.66 million for the quarter, compared to analysts' expectations of $498.09 million. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.47 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Wednesday, February 28th. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 40.44%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Stephens boosted their price target on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an "equal weight" rating in a research note on Friday, January 26th. Truist Financial boosted their price target on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the stock a "hold" rating in a report on Monday. Keefe, Bruyette & Woods cut their price target on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a "market perform" rating on the stock in a report on Friday, January 26th. UBS Group upped their price objective on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a "neutral" rating in a report on Monday, January 29th. Finally, Compass Point downgraded shares of Cullen/Frost Bankers from a "buy" rating to a "neutral" rating in a report on Monday, January 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $115.77.

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.