Cullen/Frost Bankers (NYSE:CFR) Stock: Insider Bobby Berman Sells 2,406 Shares

Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP Bobby Berman sold 2,406 shares of the business’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $157.10, for a total transaction of $377,982.60. Following the completion of the transaction, the executive vice president owned 28,406 shares of the company’s stock, valued at approximately $4,462,582.60. This trade represents a 7.81% 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 opened at $158.97 on Wednesday. The stock has a 50-day simple moving average of $157.60 and a 200-day simple moving average of $149.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $9.88 billion, a PE ratio of 14.76, a PEG ratio of 1.71 and a beta of 0.52. Cullen/Frost Bankers, Inc. has a 1 year low of $119.14 and a 1 year high of $170.80.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 29th. The bank reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Cullen/Frost Bankers had a net margin of 23.37% and a return on equity of 16.27%. The firm had revenue of $603.83 million for the quarter, compared to analyst estimates of $610.19 million. During the same period in the prior year, the firm earned $2.67 earnings per share. On average, analysts predict that Cullen/Frost Bankers, Inc. will post 11.00 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

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

Key Stories Impacting Cullen/Frost Bankers

Here are the key news stories impacting Cullen/Frost Bankers this week:

• Positive Sentiment: Zacks upgraded CFR to Rank #2 (Buy), citing greater optimism about the bank’s earnings prospects. Cullen-Frost Upgraded to Buy: Here’s Why
• Positive Sentiment: The company’s third-quarter results included EPS of $2.84, ahead of the $2.80 analyst consensus, and its earnings call highlighted business growth. Revenue of $603.83 million, however, fell short of expectations of $610.19 million. Cullen/Frost Bankers Earnings Call Highlights Growth
• Neutral Sentiment: Analyst views remain mixed: the average rating is Hold, with a reported average price target of $171.55. The bank also declared a quarterly dividend of $1.03 per share, equivalent to $4.12 annually.
• Negative Sentiment: Keefe, Bruyette & Woods lowered its rating from Outperform to Market Perform and cut its price target from $180 to $175. The target remains above the recent share price, but the downgrade signals greater caution. Keefe, Bruyette & Woods ratings
• Negative Sentiment: Two executives reported share sales: EVP Bobby Berman sold 2,406 shares, reducing his holdings by 7.81%, and CAO Matthew Bradley Henson sold 534 shares, reducing his position by 62.75%. Insider sales can create a modest sentiment headwind, though they do not necessarily indicate a change in the company’s outlook. Bobby Berman insider sale Matthew Henson SEC filing

Analysts Set New Price Targets

CFR has been the subject of a number of research analyst reports. DA Davidson upped their price target on Cullen/Frost Bankers from $164.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Cullen/Frost Bankers in a report on Tuesday, October 13th. Wall Street Zen upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Saturday. TD Cowen lowered their target price on shares of Cullen/Frost Bankers from $185.00 to $178.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Stephens increased their target price on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $171.55.

Institutional Trading of Cullen/Frost Bankers

Several hedge funds have recently made changes to their positions in the company. Brighton Jones LLC increased its position in Cullen/Frost Bankers by 19.0% during the 3rd quarter. Brighton Jones LLC now owns 1,565 shares of the bank’s stock worth $239,000 after purchasing an additional 250 shares during the period. Ethic Inc. raised its stake in shares of Cullen/Frost Bankers by 94.9% during the 3rd quarter. Ethic Inc. now owns 7,175 shares of the bank’s stock worth $1,095,000 after buying an additional 3,494 shares in the last quarter. StoneX Group Inc. purchased a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $245,000. Pictet Asset Management Holding SA lifted its holdings in shares of Cullen/Frost Bankers by 1.0% in the 3rd quarter. Pictet Asset Management Holding SA now owns 9,293 shares of the bank’s stock valued at $1,419,000 after buying an additional 95 shares during the period. Finally, Kestra Advisory Services LLC lifted its holdings in shares of Cullen/Frost Bankers by 15.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,833 shares of the bank’s stock valued at $585,000 after buying an additional 516 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

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 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.