UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 10.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,786 shares of the bank's stock after selling 15,245 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.21% of Cullen/Frost Bankers worth $15,189,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pathstone Holdings LLC increased its stake in shares of Cullen/Frost Bankers by 45.0% in the 3rd quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank's stock worth $2,156,000 after purchasing an additional 5,981 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Cullen/Frost Bankers by 11.9% during the 2nd quarter. American Century Companies Inc. now owns 68,296 shares of the bank's stock valued at $6,941,000 after buying an additional 7,236 shares in the last quarter. Raymond James & Associates grew its stake in shares of Cullen/Frost Bankers by 10.0% during the 3rd quarter. Raymond James & Associates now owns 119,447 shares of the bank's stock valued at $13,361,000 after acquiring an additional 10,884 shares during the period. Hancock Whitney Corp bought a new stake in Cullen/Frost Bankers during the 3rd quarter worth approximately $784,000. Finally, Strategic Financial Concepts LLC lifted its holdings in Cullen/Frost Bankers by 7,109.7% during the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank's stock valued at $255,000 after purchasing an additional 247,416 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CFR. Keefe, Bruyette & Woods increased their price objective 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. Wedbush cut their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating for the company in a research note on Tuesday, September 24th. Truist Financial lowered their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating on the stock in a research report on Friday, September 20th. Royal Bank of Canada upped their price objective on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a "sector perform" rating in a research note on Friday, November 1st. Finally, Evercore ISI decreased their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating on the stock in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of "Hold" and a consensus price target of $125.43.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock traded up $0.04 during trading hours on Friday, reaching $138.26. The company's stock had a trading volume of 242,397 shares, compared to its average volume of 367,752. The firm has a 50 day moving average price of $129.80 and a 200-day moving average price of $114.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $8.87 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.69 and a beta of 0.99. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one 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 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 firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.38 earnings per share. On average, analysts predict that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.95 dividend. 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 is presently 47.15%.

Insiders Place Their Bets

In other news, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value 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. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock valued at $2,977,033 over the last three months. 2.89% of the stock is owned by company insiders.

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.