Cullen/Frost Bankers, Inc. (NYSE:CFR) Position Lessened by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 22.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,655 shares of the bank’s stock after selling 1,065 shares during the period. SG Americas Securities LLC’s holdings in Cullen/Frost Bankers were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC raised its holdings in shares of Cullen/Frost Bankers by 46.5% during the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after acquiring an additional 106 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after acquiring an additional 186 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the second quarter worth $54,000. GAMMA Investing LLC raised its holdings in shares of Cullen/Frost Bankers by 40.7% during the first quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock worth $65,000 after acquiring an additional 166 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new stake in shares of Cullen/Frost Bankers during the first quarter worth $69,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Trading Up 0.7 %

Cullen/Frost Bankers stock opened at $124.14 on Friday. Cullen/Frost Bankers, Inc. has a 52 week low of $82.25 and a 52 week high of $124.91. The firm has a market capitalization of $7.98 billion, a PE ratio of 14.67, a PEG ratio of 1.47 and a beta of 1.00. The business’s 50-day simple moving average is $111.18 and its 200-day simple moving average is $107.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The business had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. During the same period last year, the business earned $2.47 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.59 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a yield of 3.06%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 44.92%.

Wall Street Analysts Forecast Growth

CFR has been the subject of several recent research reports. Citigroup cut their price objective on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a report on Monday, September 30th. Stephens raised their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Maxim Group raised their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 26th. Wedbush cut their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Finally, Truist Financial cut their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average price target of $121.31.

Insider Buying and Selling

In related news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the sale, the executive vice president now directly owns 1,598 shares in the company, valued at $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.89% of the stock is owned by company insiders.

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.