National Bank of Canada FI Invests $1.59 Million in Cullen/Frost Bankers, Inc. (NYSE:CFR)

National Bank of Canada FI bought a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 14,176 shares of the bank’s stock, valued at approximately $1,586,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pathstone Holdings LLC increased its holdings in shares of Cullen/Frost Bankers by 45.0% during the third quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock valued at $2,156,000 after acquiring an additional 5,981 shares in the last quarter. American Century Companies Inc. raised its holdings in Cullen/Frost Bankers by 11.9% during the second quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock worth $6,941,000 after buying an additional 7,236 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Cullen/Frost Bankers by 10.0% in the third quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock valued at $13,361,000 after buying an additional 10,884 shares in the last quarter. Hancock Whitney Corp acquired a new position in shares of Cullen/Frost Bankers during the third quarter valued at about $784,000. Finally, Strategic Financial Concepts LLC increased its position in shares of Cullen/Frost Bankers by 7,109.7% during the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock worth $255,000 after acquiring an additional 247,416 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Trading Up 0.2 %

Shares of CFR stock opened at $137.80 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a market cap of $8.84 billion, a P/E ratio of 17.10, a PEG ratio of 1.66 and a beta of 0.99. The company has a 50 day moving average of $132.55 and a 200-day moving average of $115.73. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same period last year, the business posted $2.38 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Insiders Place Their Bets

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the sale, the executive vice president now owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This represents a 58.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the transaction, the executive vice president now owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock worth $2,977,033 over the last quarter. 2.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CFR shares. Citigroup raised their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Morgan Stanley cut their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Stephens increased their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods lifted their price objective on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Maxim Group increased their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $127.07.

Cullen/Frost Bankers Company Profile

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.