Davis R M Inc. Has $944,000 Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Davis R M Inc. trimmed its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 50.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,439 shares of the bank's stock after selling 8,621 shares during the period. Davis R M Inc.'s holdings in Cullen/Frost Bankers were worth $944,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Covestor Ltd boosted its position in shares of Cullen/Frost Bankers by 169.9% in the 3rd 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 boosted its position in shares of 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 purchasing an additional 105 shares during the period. Allworth Financial LP boosted its position in shares of Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank's stock valued at $50,000 after purchasing an additional 239 shares during the period. Capital Performance Advisors LLP acquired a new stake in Cullen/Frost Bankers during the 3rd quarter worth about $52,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Cullen/Frost Bankers during the 2nd quarter valued at about $54,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

Shares of CFR traded down $1.01 on Tuesday, reaching $142.91. 319,649 shares of the stock traded hands, compared to its average volume of 455,027. The stock's 50-day moving average price is $124.74 and its 200-day moving average price is $112.39. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.72 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 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. The company had revenue of $518.04 million for 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 in the prior year, the business earned $2.38 earnings per share. Equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 2.66%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 47.15%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Maxim Group lifted their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their target price 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. 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. Morgan Stanley lowered their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating on the stock in a research note on Monday, September 30th. Finally, Evercore ISI lowered their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating for the company in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Hold" and a consensus target price of $123.86.

Insider Activity

In other news, EVP Bobby Berman sold 3,506 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares of the company's stock, valued at $3,367,550.91. This trade represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. This represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,864 shares of company stock valued at $2,977,033 over the last 90 days. 2.89% of the stock is owned by company insiders.

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.