Patrick B. Frost Sells 6,617 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) Stock

Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) insider Patrick B. Frost sold 6,617 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $101.09, for a total transaction of $668,912.53. Following the completion of the transaction, the insider now owns 210,946 shares in the company, valued at approximately $21,324,531.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cullen/Frost Bankers Trading Down 1.1 %

Cullen/Frost Bankers stock opened at $103.00 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers, Inc. has a 12 month low of $92.55 and a 12 month high of $160.60. The company’s fifty day simple moving average is $102.85 and its 200-day simple moving average is $123.25. The stock has a market cap of $6.63 billion, a P/E ratio of 10.29, a P/E/G ratio of 1.12 and a beta of 1.04.

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

Cullen/Frost Bankers Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Cullen/Frost Bankers by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,252,456 shares of the bank’s stock worth $826,700,000 after acquiring an additional 234,639 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Cullen/Frost Bankers by 1.7% during the 1st quarter. BlackRock Inc. now owns 5,818,308 shares of the bank’s stock worth $612,901,000 after purchasing an additional 97,073 shares during the period. State Street Corp increased its holdings in shares of Cullen/Frost Bankers by 15.4% during the 1st quarter. State Street Corp now owns 4,481,205 shares of the bank’s stock worth $472,050,000 after purchasing an additional 596,591 shares during the period. Capital Research Global Investors increased its holdings in shares of Cullen/Frost Bankers by 39.1% during the 1st quarter. Capital Research Global Investors now owns 2,408,656 shares of the bank’s stock worth $333,382,000 after purchasing an additional 676,467 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in shares of Cullen/Frost Bankers by 0.6% during the 3rd quarter. King Luther Capital Management Corp now owns 2,218,346 shares of the bank’s stock worth $293,310,000 after purchasing an additional 12,734 shares during the period. Institutional investors and hedge funds own 81.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CFR shares. Stephens decreased their price target on shares of Cullen/Frost Bankers from $154.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Friday, January 27th. Morgan Stanley lowered shares of Cullen/Frost Bankers from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $127.00 to $121.00 in a research report on Tuesday, May 16th. JPMorgan Chase & Co. lowered their price objective on shares of Cullen/Frost Bankers from $155.00 to $123.00 in a research report on Thursday, April 6th. Truist Financial lowered their price objective on shares of Cullen/Frost Bankers from $136.00 to $114.00 and set a “hold” rating on the stock in a research report on Thursday, March 23rd. Finally, Raymond James cut shares of Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.