Brooklyn Investment Group Cuts Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Brooklyn Investment Group lowered its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 20.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 311 shares of the bank’s stock after selling 79 shares during the quarter. Brooklyn Investment Group’s holdings in Cullen/Frost Bankers were worth $42,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CFR. Covestor Ltd lifted its position in shares of Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Cullen/Frost Bankers during the third quarter valued at $29,000. Asset Dedication LLC grew its position in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after purchasing an additional 105 shares during the period. Allworth Financial LP grew its position in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth about $52,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on CFR. Evercore ISI cut their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price objective on Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Wedbush dropped their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Compass Point raised their price target on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada upped their price objective on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $127.07.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $143.33 on Monday. The stock has a fifty day simple moving average of $137.71 and a 200-day simple moving average of $122.30. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The stock has a market cap of $9.19 billion, a PE ratio of 17.78, a P/E/G ratio of 1.64 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The business had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business earned $2.38 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were 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 trade represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,864 shares of company stock worth $2,977,033 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Cullen/Frost Bankers 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.