Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its position in Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,948 shares of the bank’s stock after selling 3,580 shares during the quarter. Citigroup Inc.’s holdings in Cullen/Frost Bankers were worth $2,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. HighTower Advisors LLC grew its stake in Cullen/Frost Bankers by 3.5% during the 4th quarter. HighTower Advisors LLC now owns 8,955 shares of the bank’s stock worth $1,201,000 after purchasing an additional 299 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Cullen/Frost Bankers during the 4th quarter worth $573,000. Raymond James & Associates grew its stake in Cullen/Frost Bankers by 93.6% during the 4th quarter. Raymond James & Associates now owns 127,995 shares of the bank’s stock worth $17,113,000 after purchasing an additional 61,873 shares in the last quarter. UBS Group AG grew its stake in Cullen/Frost Bankers by 48.4% during the 4th quarter. UBS Group AG now owns 26,142 shares of the bank’s stock worth $3,495,000 after purchasing an additional 8,525 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new position in Cullen/Frost Bankers during the 4th quarter worth $55,000. 81.93% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Down 1.1 %

Cullen/Frost Bankers stock opened at $103.00 on Thursday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $92.55 and a fifty-two week high of $160.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $6.63 billion, a P/E ratio of 10.29, a PEG ratio of 1.12 and a beta of 1.04. The stock has a 50-day simple moving average of $102.85 and a 200-day simple moving average of $123.25.

Cullen/Frost Bankers (NYSE:CFR – Get Rating) last posted its earnings results on Thursday, April 27th. The bank reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.15. The business had revenue of $505.09 million during the quarter, compared to the consensus estimate of $503.93 million. Cullen/Frost Bankers had a return on equity of 21.59% and a net margin of 30.40%. The business’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 EPS. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post 9.74 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Tuesday, May 30th. Cullen/Frost Bankers’s dividend payout ratio is presently 34.77%.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, CEO Phillip D. Green acquired 9,500 shares of Cullen/Frost Bankers stock in a transaction on Monday, March 13th. The stock was purchased at an average cost of $106.59 per share, with a total value of $1,012,605.00. Following the purchase, the chief executive officer now directly owns 114,729 shares in the company, valued at $12,228,964.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Phillip D. Green acquired 9,500 shares of Cullen/Frost Bankers stock in a transaction on Monday, March 13th. The stock was purchased at an average cost of $106.59 per share, with a total value of $1,012,605.00. Following the purchase, the chief executive officer now directly owns 114,729 shares in the company, valued at $12,228,964.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bobby Berman acquired 1,500 shares of Cullen/Frost Bankers stock in a transaction on Thursday, May 4th. The shares were bought at an average cost of $95.25 per share, with a total value of $142,875.00. Following the completion of the purchase, the executive vice president now owns 26,662 shares in the company, valued at $2,539,555.50. The disclosure for this purchase can be found here. Insiders purchased a total of 25,200 shares of company stock valued at $2,608,696 in the last ninety days. Insiders own 2.89% of the company’s stock.

Analysts Set New Price Targets

CFR has been the subject of several analyst reports. Stephens lowered their target price on Cullen/Frost Bankers from $154.00 to $140.00 and set an “equal weight” rating for the company in a research note on Friday, January 27th. StockNews.com started coverage on Cullen/Frost Bankers in a report on Thursday, May 18th. They set a “sell” rating for the company. Truist Financial decreased their price target on Cullen/Frost Bankers from $136.00 to $114.00 and set a “hold” rating for the company in a report on Thursday, March 23rd. Wedbush lifted their price target on Cullen/Frost Bankers from $110.00 to $120.00 in a report on Friday, April 28th. Finally, UBS Group started coverage on Cullen/Frost Bankers in a report on Wednesday, March 15th. They set a “sell” rating and a $107.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $134.23.

Cullen/Frost Bankers Company Profile

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Cullen/Frost Bankers, Inc is a financial holding company, which engages in the provision of commercial and consumer banking services. It operates through the Banking and Frost Wealth Advisors segments. The Banking segment operates commercial and consumer banking services. The Frost Wealth Advisors segment includes fee-based services within private trust, retirement services, and financial management services.