JPMorgan Chase & Co. Sells 63,779 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

JPMorgan Chase & Co. decreased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 824,965 shares of the bank's stock after selling 63,779 shares during the quarter. JPMorgan Chase & Co. owned 1.29% of Cullen/Frost Bankers worth $92,281,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Keene & Associates Inc. increased its stake in Cullen/Frost Bankers by 1.7% in the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank's stock valued at $586,000 after acquiring an additional 89 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Cullen/Frost Bankers by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank's stock valued at $150,000 after purchasing an additional 97 shares during the period. Asset Dedication LLC grew its stake 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. GAMMA Investing LLC raised its holdings in shares of Cullen/Frost Bankers by 18.5% in the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank's stock worth $76,000 after buying an additional 106 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank's stock worth $25,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock traded up $1.64 during midday trading on Friday, reaching $134.40. 209,531 shares of the company's stock were exchanged, compared to its average volume of 228,616. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The stock's 50-day simple moving average is $136.66 and its 200 day simple moving average is $119.34. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.66 and a beta of 0.99. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same period in the previous year, the firm earned $2.38 EPS. The firm's revenue was up 5.4% compared to the same quarter last year. On average, analysts expect that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers's dividend payout ratio is presently 47.15%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Wedbush decreased their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 24th. Maxim Group raised their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a "buy" rating in a report on Friday, November 1st. Citigroup boosted their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a "sell" rating in a research note on Monday, November 4th. Finally, Evercore ISI lowered their target price 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $127.07.

Insider Buying and Selling

In related news, EVP Bobby Berman sold 3,506 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value 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. The trade was a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the transaction, the executive vice president now owns 2,888 shares in the company, valued at $399,525.92. The trade was a 58.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,864 shares of company stock valued at $2,977,033. Company insiders own 3.00% of the company's stock.

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.