Jackson Square Capital LLC Acquires 1,830 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Jackson Square Capital LLC increased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 47.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,647 shares of the bank’s stock after buying an additional 1,830 shares during the quarter. Jackson Square Capital LLC’s holdings in Cullen/Frost Bankers were worth $758,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Boston Trust Walden Corp bought a new position in Cullen/Frost Bankers during the 3rd quarter valued at $107,166,000. Vaughan Nelson Investment Management L.P. bought a new position in Cullen/Frost Bankers during the 3rd quarter valued at $54,012,000. Deprince Race & Zollo Inc. bought a new position in Cullen/Frost Bankers during the 2nd quarter valued at $37,813,000. The Manufacturers Life Insurance Company lifted its stake in Cullen/Frost Bankers by 117.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank’s stock valued at $63,618,000 after acquiring an additional 307,129 shares in the last quarter. Finally, Barclays PLC lifted its stake in Cullen/Frost Bankers by 234.5% during the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank’s stock valued at $48,814,000 after acquiring an additional 305,921 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore ISI dropped their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Stephens raised their target price 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. Citigroup raised their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Wedbush decreased their target price 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, Morgan Stanley decreased their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $127.07.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $143.33 on Friday. The stock has a 50-day moving average price of $137.71 and a 200-day moving average price of $122.13. The company has a market cap of $9.19 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06.

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

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.95 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.65%. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Buying and Selling

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction on 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 directly owns 2,888 shares of the company’s stock, valued at $399,525.92. This trade represents a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock worth $2,977,033 in the last quarter. 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.