Park Avenue Securities LLC Sells 157 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Park Avenue Securities LLC reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFRGet Rating) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,929 shares of the bank’s stock after selling 157 shares during the period. Park Avenue Securities LLC’s holdings in Cullen/Frost Bankers were worth $255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Thrivent Financial for Lutherans increased its stake in shares of Cullen/Frost Bankers by 0.5% during the second quarter. Thrivent Financial for Lutherans now owns 14,966 shares of the bank’s stock valued at $1,743,000 after purchasing an additional 76 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Cullen/Frost Bankers by 0.9% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,549 shares of the bank’s stock valued at $1,112,000 after purchasing an additional 85 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Cullen/Frost Bankers by 45.5% during the second quarter. Meeder Asset Management Inc. now owns 288 shares of the bank’s stock valued at $34,000 after purchasing an additional 90 shares in the last quarter. Wedbush Securities Inc. increased its stake in shares of Cullen/Frost Bankers by 3.3% during the third quarter. Wedbush Securities Inc. now owns 2,815 shares of the bank’s stock valued at $372,000 after purchasing an additional 90 shares in the last quarter. Finally, 1900 Wealth Management LLC increased its stake in shares of Cullen/Frost Bankers by 1.0% during the third quarter. 1900 Wealth Management LLC now owns 9,797 shares of the bank’s stock valued at $1,295,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 81.93% of the company’s stock.

Cullen/Frost Bankers Trading Up 2.0 %

Shares of CFR stock opened at $136.40 on Tuesday. Cullen/Frost Bankers, Inc. has a 12-month low of $112.67 and a 12-month high of $160.60. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $136.39 and its 200 day moving average is $136.77. The stock has a market capitalization of $8.77 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.29 and a beta of 1.11.

Cullen/Frost Bankers (NYSE:CFRGet Rating) last issued its earnings results on Thursday, October 27th. The bank reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.40. Cullen/Frost Bankers had a net margin of 30.07% and a return on equity of 14.18%. The company had revenue of $479.34 million for the quarter, compared to analysts’ expectations of $445.68 million. Research analysts expect that Cullen/Frost Bankers, Inc. will post 8.68 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were given a $0.87 dividend. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $3.48 annualized dividend and a yield of 2.55%. Cullen/Frost Bankers’s payout ratio is presently 46.71%.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,941 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $151.62, for a total value of $294,294.42. Following the transaction, the executive vice president now directly owns 24,589 shares in the company, valued at $3,728,184.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $140.00 target price on shares of Cullen/Frost Bankers in a research note on Wednesday, September 28th. Raymond James increased their price target on shares of Cullen/Frost Bankers from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, October 28th. Stephens increased their price target on shares of Cullen/Frost Bankers from $149.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, October 28th. JPMorgan Chase & Co. cut their price target on shares of Cullen/Frost Bankers from $175.00 to $155.00 and set an “overweight” rating on the stock in a report on Tuesday, December 13th. Finally, StockNews.com cut shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $152.38.

Cullen/Frost Bankers Profile

(Get Rating)

Cullen/Frost Bankers, Inc operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services. It operates through the following segments: Banking and Frost Wealth Advisors. The Banking operating segment includes both commercial and consumer banking services and Frost Insurance Agency.

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Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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