Insider Selling: Cullen/Frost Bankers, Inc. (NYSE:CFR) CEO Sells 14,358 Shares of Stock

Cullen/Frost Bankers, Inc. (NYSE:CFR) CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the transaction, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at $13,026,597.08. This represents a 13.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $142.34 on Friday. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $144.89. The company has a 50 day moving average of $123.41 and a 200-day moving average of $111.80. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.67 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last released 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. The firm had revenue of $518.04 million during the quarter, compared to analysts’ expectations 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 revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $2.38 EPS. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

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 given a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.67%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Analyst Ratings Changes

Several equities analysts have commented on CFR shares. Wedbush cut their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Morgan Stanley cut their target price on 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 decreased their price target on shares of 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. Royal Bank of Canada increased their price objective on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Finally, Citigroup lifted their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus target price of $123.86.

Institutional Investors Weigh In On Cullen/Frost Bankers

A number of hedge funds have recently added to or reduced their stakes in the stock. Keene & Associates Inc. lifted its position in shares of Cullen/Frost Bankers by 1.7% during the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after purchasing an additional 89 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Cullen/Frost Bankers by 7.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after buying an additional 97 shares in the last quarter. Asset Dedication LLC lifted its holdings in Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after buying an additional 105 shares in the last quarter. GAMMA Investing LLC boosted its position in Cullen/Frost Bankers by 18.5% in the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock valued at $76,000 after buying an additional 106 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Cullen/Frost Bankers by 6.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock worth $237,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

About Cullen/Frost Bankers

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.