The Manufacturers Life Insurance Company Sells 11,463 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

The Manufacturers Life Insurance Company decreased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFRFree Report) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 283,882 shares of the bank’s stock after selling 11,463 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cullen/Frost Bankers were worth $30,798,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $27,000. Arvest Investments Inc. purchased a new stake in Cullen/Frost Bankers in the fourth quarter worth $35,000. GAMMA Investing LLC bought a new stake in shares of Cullen/Frost Bankers in the fourth quarter valued at $43,000. Parallel Advisors LLC raised its stake in shares of Cullen/Frost Bankers by 89.7% in the fourth quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after buying an additional 218 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Cullen/Frost Bankers by 87.8% during the 4th quarter. Signaturefd LLC now owns 706 shares of the bank’s stock valued at $77,000 after buying an additional 330 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now directly owns 27,815 shares in the company, valued at approximately $2,934,204.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Cullen/Frost Bankers to a “sell” rating in a research note on Saturday, May 4th. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, April 26th. Evercore ISI raised their price objective on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the stock an “underperform” rating in a report on Thursday, March 28th. DA Davidson reissued a “buy” rating and set a $126.00 target price on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Finally, Jefferies Financial Group increased their target price on Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $117.46.

Read Our Latest Analysis on CFR

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $99.54 on Friday. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $120.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The company has a market cap of $6.40 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.24 and a beta of 1.02. The stock has a 50-day moving average price of $106.78 and a 200-day moving average price of $106.17.

Cullen/Frost Bankers (NYSE:CFRGet Free Report) last announced its earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. The business had revenue of $522.74 million during the quarter, compared to analyst estimates of $510.09 million. During the same period in the previous year, the business posted $2.70 earnings per share. As a group, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.43 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.92 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.68 dividend on an annualized basis and a yield of 3.70%. Cullen/Frost Bankers’s dividend payout ratio is presently 43.50%.

Cullen/Frost Bankers Profile

(Free Report)

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.

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

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