Tower Bridge Advisors Sells 1,500 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Tower Bridge Advisors trimmed its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 43.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,950 shares of the bank’s stock after selling 1,500 shares during the quarter. Tower Bridge Advisors’ holdings in Cullen/Frost Bankers were worth $218,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CFR. Janus Henderson Group PLC grew its stake in Cullen/Frost Bankers by 18.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after buying an additional 161,580 shares during the last quarter. Boston Trust Walden Corp purchased a new position in Cullen/Frost Bankers during the 3rd quarter worth $107,166,000. Dimensional Fund Advisors LP grew its stake in Cullen/Frost Bankers by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after buying an additional 120,333 shares during the last quarter. Principal Financial Group Inc. grew its stake in Cullen/Frost Bankers by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank’s stock worth $90,185,000 after buying an additional 25,909 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Cullen/Frost Bankers by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 648,922 shares of the bank’s stock worth $65,950,000 after buying an additional 2,420 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This trade represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $139.27 on Monday. The stock has a 50-day moving average of $120.88 and a 200 day moving average of $110.97. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $144.89. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.68 and a beta of 0.98. 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, beating the consensus estimate of $2.17 by $0.07. The business had revenue of $518.04 million for 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%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.38 earnings per share. Sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 annualized dividend and a dividend yield of 2.73%. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CFR shares. Royal Bank of Canada boosted their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Truist Financial dropped their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. DA Davidson boosted their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wedbush dropped their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Stephens boosted their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Four investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $123.86.

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.