Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 533.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,828 shares of the bank's stock after purchasing an additional 20,067 shares during the period. BNP Paribas Financial Markets' holdings in Cullen/Frost Bankers were worth $2,665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Covestor Ltd increased its holdings in shares of Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank's stock valued at $25,000 after purchasing an additional 141 shares during the period. Asset Dedication LLC grew its position in Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank's stock valued at $30,000 after buying an additional 105 shares during the last quarter. Brooklyn Investment Group acquired a new position in Cullen/Frost Bankers in the 3rd quarter valued at $44,000. Allworth Financial LP raised its position in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank's stock worth $50,000 after buying an additional 239 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth $52,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CFR has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a "market perform" rating in a research note on Wednesday. Citigroup boosted their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a "sell" rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price target on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a "sector perform" rating in a report on Friday, November 1st. Wedbush dropped their price objective 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. Finally, Compass Point raised their target price on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a "neutral" rating in a report 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 assigned a buy rating to the company's stock. According to MarketBeat.com, Cullen/Frost Bankers currently has an average rating of "Hold" and an average price target of $125.43.

Cullen/Frost Bankers Price Performance

CFR stock traded up $0.04 on Friday, reaching $138.26. The company had a trading volume of 242,397 shares, compared to its average volume of 367,752. The company's fifty day moving average is $129.80 and its 200 day moving average is $114.42. The company has a market cap of $8.87 billion, a P/E ratio of 17.16, a PEG ratio of 1.69 and a beta of 0.99. 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 1 year low of $94.09 and a 1 year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) 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 the consensus estimate 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 was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.38 earnings per share. On average, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.75%. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. This represents a 11.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the transaction, the chief executive officer now 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. Insiders have sold 21,864 shares of company stock worth $2,977,033 over the last quarter. 2.89% of the stock is currently owned by insiders.

Cullen/Frost Bankers Company 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.