Fmr LLC Sells 4,691 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

FMR LLC lowered its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 0.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,609,809 shares of the bank's stock after selling 4,691 shares during the quarter. FMR LLC owned 2.51% of Cullen/Frost Bankers worth $180,073,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in Cullen/Frost Bankers by 117.4% in the third quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank's stock valued at $63,618,000 after purchasing an additional 307,129 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Cullen/Frost Bankers by 515.8% during the third quarter. Bank of Montreal Can now owns 133,618 shares of the bank's stock worth $14,857,000 after purchasing an additional 111,919 shares during the last quarter. Hancock Whitney Corp acquired a new position in Cullen/Frost Bankers in the third quarter valued at approximately $784,000. Alpha DNA Investment Management LLC boosted its holdings in Cullen/Frost Bankers by 13.8% during the third quarter. Alpha DNA Investment Management LLC now owns 6,322 shares of the bank's stock worth $707,000 after purchasing an additional 766 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in Cullen/Frost Bankers by 48.4% in the 3rd quarter. Cerity Partners LLC now owns 46,715 shares of the bank's stock worth $5,225,000 after acquiring an additional 15,244 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup raised their price objective on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a "sell" rating in a report on Monday, November 4th. Stephens increased 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 report on Friday, November 1st. Maxim Group increased their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Morgan Stanley decreased their price target on shares of 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, Royal Bank of Canada lifted their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a "sector perform" rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $123.86.

Cullen/Frost Bankers Price Performance

CFR stock traded down $0.25 during trading on Tuesday, reaching $139.85. The company's stock had a trading volume of 59,404 shares, compared to its average volume of 450,448. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64. The company's fifty day moving average is $127.61 and its 200-day moving average is $113.60. The company has a market capitalization of $8.97 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping 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%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.38 earnings per share. On average, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.73 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.72%. Cullen/Frost Bankers's dividend payout ratio is currently 47.15%.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 94,423 shares of the company's stock, valued at $13,026,597.08. This trade represents a 13.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the firm'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 transaction, the executive vice president now owns 26,661 shares of the company's stock, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,864 shares of company stock valued at $2,977,033. 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.