LPL Financial LLC Sells 12,836 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

LPL Financial LLC lessened its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,833 shares of the bank's stock after selling 12,836 shares during the quarter. LPL Financial LLC owned approximately 0.10% of Cullen/Frost Bankers worth $8,972,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new stake in Cullen/Frost Bankers during the fourth quarter worth $1,651,000. American Century Companies Inc. increased its stake in shares of Cullen/Frost Bankers by 2.5% during the 4th quarter. American Century Companies Inc. now owns 71,366 shares of the bank's stock worth $9,581,000 after purchasing an additional 1,717 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Cullen/Frost Bankers by 5.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 33,100 shares of the bank's stock worth $4,444,000 after purchasing an additional 1,707 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Cullen/Frost Bankers by 4.8% in the 4th quarter. Whittier Trust Co. now owns 62,649 shares of the bank's stock valued at $8,410,000 after purchasing an additional 2,881 shares during the period. Finally, Teacher Retirement System of Texas lifted its stake in Cullen/Frost Bankers by 44.2% in the 4th quarter. Teacher Retirement System of Texas now owns 13,196 shares of the bank's stock valued at $1,772,000 after purchasing an additional 4,044 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

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Insider Activity

In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $139.45, for a total value of $1,603,675.00. Following the completion of the sale, the insider now owns 102,946 shares of the company's stock, valued at approximately $14,355,819.70. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.89% of the company's stock.

Cullen/Frost Bankers Trading Up 8.1 %

Shares of Cullen/Frost Bankers stock traded up $8.60 on Wednesday, hitting $114.40. 942,248 shares of the company's stock traded hands, compared to its average volume of 465,899. The company has a fifty day moving average of $129.04 and a two-hundred day moving average of $131.07. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 6.46 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.68 and a quick ratio of 0.68.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.32%. The ex-dividend date was Friday, February 28th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 42.84%.

Analysts Set New Price Targets

CFR has been the topic of several research reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a report on Friday, January 31st. Barclays started coverage on shares of Cullen/Frost Bankers in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $130.00 price target on the stock. Compass Point boosted their price objective on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods increased their target price on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley dropped their price target on Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, March 13th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers presently has an average rating of "Hold" and an average target price of $132.57.

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.