Bank of Montreal Can Has $14.86 Million Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bank of Montreal Can lifted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 515.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,618 shares of the bank's stock after purchasing an additional 111,919 shares during the quarter. Bank of Montreal Can owned 0.21% of Cullen/Frost Bankers worth $14,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keene & Associates Inc. raised its stake in shares of Cullen/Frost Bankers by 1.7% in the 3rd quarter. Keene & Associates Inc. now owns 5,240 shares of the bank's stock valued at $586,000 after buying an additional 89 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Cullen/Frost Bankers by 7.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank's stock worth $150,000 after purchasing an additional 97 shares in the last quarter. Asset Dedication LLC lifted its stake in Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank's stock worth $30,000 after purchasing an additional 105 shares during the period. GAMMA Investing LLC boosted its holdings in Cullen/Frost Bankers by 18.5% during the third quarter. GAMMA Investing LLC now owns 678 shares of the bank's stock valued at $76,000 after purchasing an additional 106 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Cullen/Frost Bankers by 6.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank's stock valued at $237,000 after purchasing an additional 137 shares during the period. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Howard L. Kasanoff sold 4,000 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the transaction, the executive vice president now owns 2,888 shares of the company's stock, valued at $399,525.92. The trade was a 58.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,864 shares of company stock valued at $2,977,033. 2.89% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Trading Down 0.6 %

NYSE:CFR traded down $0.80 on Friday, hitting $140.62. 178,951 shares of the stock were exchanged, compared to its average volume of 466,682. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.69 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The company's 50-day moving average price is $127.06 and its 200 day moving average price is $113.32.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating the consensus estimate 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 net margin of 18.81% and a return on equity of 15.82%. Cullen/Frost Bankers's revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.38 earnings per share. On average, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.73 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 Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.70%. Cullen/Frost Bankers's dividend payout ratio is presently 47.15%.

Analyst Ratings Changes

CFR has been the subject of several analyst reports. Maxim Group raised their target price 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. Wedbush reduced their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 24th. Royal Bank of Canada increased their target price on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a "sector perform" rating in a research report on Friday, November 1st. Compass Point boosted their price target on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Finally, Stephens raised their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $123.86.

About Cullen/Frost Bankers

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.