Amalgamated Bank Sells 9,068 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Amalgamated Bank lowered its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 23.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,234 shares of the bank's stock after selling 9,068 shares during the quarter. Amalgamated Bank's holdings in Cullen/Frost Bankers were worth $3,382,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CFR. Asset Dedication LLC lifted its position in 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 buying an additional 105 shares in the last quarter. Allworth Financial LP lifted its position in shares of Cullen/Frost Bankers by 116.6% during the third quarter. Allworth Financial LP now owns 444 shares of the bank's stock worth $50,000 after purchasing an additional 239 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $54,000. Eagle Bay Advisors LLC grew its stake in shares of Cullen/Frost Bankers by 1,625.6% during the second quarter. Eagle Bay Advisors LLC now owns 742 shares of the bank's stock valued at $75,000 after purchasing an additional 699 shares during the last quarter. Finally, Chilton Capital Management LLC increased its holdings in shares of Cullen/Frost Bankers by 227.9% in the second quarter. Chilton Capital Management LLC now owns 751 shares of the bank's stock valued at $76,000 after purchasing an additional 522 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CFR shares. Citigroup upped their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a "sell" rating in a report on Monday, November 4th. Royal Bank of Canada upped their price target on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a "sector perform" rating in a research note on Friday, November 1st. Compass Point boosted their price objective on Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Stephens raised their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Finally, Wedbush cut their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $123.86.

Cullen/Frost Bankers Stock Up 0.8 %

CFR stock traded up $1.12 during trading hours on Friday, reaching $139.17. 432,013 shares of the stock were exchanged, compared to its average volume of 607,849. The firm's 50-day moving average is $117.90 and its 200-day moving average is $109.78. Cullen/Frost Bankers, Inc. has a 12 month low of $91.24 and a 12 month high of $144.19. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.68 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.07. The business had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. Cullen/Frost Bankers's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 EPS. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers's dividend payout ratio is presently 47.15%.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now directly owns 26,661 shares of the company's stock, valued at $3,367,550.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.89% of the stock is currently owned by corporate insiders.

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.