Algert Global LLC Sells 13,920 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Algert Global LLC lessened its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 37.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,381 shares of the bank's stock after selling 13,920 shares during the quarter. Algert Global LLC's holdings in Cullen/Frost Bankers were worth $2,615,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Keene & Associates Inc. lifted its holdings 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 valued at $586,000 after purchasing an additional 89 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Cullen/Frost Bankers by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank's stock valued at $150,000 after buying an additional 97 shares during the last quarter. Asset Dedication LLC grew its holdings in shares of 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 purchasing an additional 105 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Cullen/Frost Bankers by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank's stock worth $76,000 after buying an additional 106 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Cullen/Frost Bankers by 6.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank's stock worth $237,000 after buying an additional 137 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CFR has been the subject of several research reports. Citigroup lifted their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a "sell" rating in a research note on Monday, November 4th. Wedbush dropped their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. Truist Financial decreased their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating on the stock in a research report on Friday, September 20th. Maxim Group increased their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, Compass Point increased their price target on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of "Hold" and an average target price of $123.86.

Cullen/Frost Bankers Stock Up 0.6 %

NYSE:CFR traded up $0.86 during mid-day trading on Wednesday, hitting $143.77. 38,940 shares of the company's stock traded hands, compared to its average volume of 453,212. The company has a fifty day moving average of $125.39 and a 200 day moving average of $112.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $9.22 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.73 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate 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 for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.38 earnings per share. On average, analysts forecast that Cullen/Frost Bankers, Inc. will post 8.73 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers's dividend payout ratio is presently 47.15%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares of the company's stock, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the transaction, the executive vice president now owns 26,661 shares of the company's stock, valued at approximately $3,367,550.91. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,864 shares of company stock valued at $2,977,033 in the last ninety days. Insiders own 3.00% of the company's stock.

Cullen/Frost Bankers Profile

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.