Jacobs Levy Equity Management Inc. Grows Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Jacobs Levy Equity Management Inc. boosted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 15.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 449,801 shares of the bank’s stock after buying an additional 60,176 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.70% of Cullen/Frost Bankers worth $50,315,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd boosted its position in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares during the period. Asset Dedication LLC boosted its stake in shares of Cullen/Frost Bankers by 63.3% during 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 in the last quarter. Brooklyn Investment Group purchased a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at $44,000. Allworth Financial LP grew its position in shares of Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after buying an additional 239 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Cullen/Frost Bankers during the third quarter worth $52,000. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $139.32 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a fifty day moving average of $128.15 and a 200 day moving average of $113.84. The firm has a market cap of $8.93 billion, a PE ratio of 17.29, a PEG ratio of 1.69 and a beta of 0.99. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last issued 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. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The firm had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same period last year, the company posted $2.38 EPS. Cullen/Frost Bankers’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.73 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.73%. Cullen/Frost Bankers’s payout ratio is currently 47.15%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CFR. Stephens boosted their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Morgan Stanley lowered their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. Evercore ISI cut their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 2nd. Wedbush lowered their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Finally, Truist Financial cut their price objective 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 research 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 MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average price target of $123.86.

Insiders Place Their Bets

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the transaction, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction 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 sale, the executive vice president now owns 26,661 shares in the company, valued at $3,367,550.91. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,864 shares of company stock valued at $2,977,033 in the last 90 days. 3.00% of the stock is owned by 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.