Hancock Whitney Corp Makes New $784,000 Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Hancock Whitney Corp purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,006 shares of the bank's stock, valued at approximately $784,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CFR. Covestor Ltd raised its stake 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 acquiring an additional 141 shares during the period. Asset Dedication LLC raised 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 acquiring an additional 105 shares during the period. Allworth Financial LP raised its stake 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 acquiring an additional 239 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at approximately $52,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at approximately $54,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the sale, the executive vice president now directly owns 26,661 shares of the company's stock, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,980,829.68. Following the completion of the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock worth $2,977,033 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CFR shares. Morgan Stanley cut their target price 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. Stephens upped their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Citigroup boosted their price target 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. Royal Bank of Canada boosted their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a "sector perform" rating in a report on Friday, November 1st. Finally, Maxim Group boosted 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. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $123.86.

Cullen/Frost Bankers Stock Performance

CFR stock traded down $0.57 on Wednesday, hitting $142.34. The company's stock had a trading volume of 226,237 shares, compared to its average volume of 454,032. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.73 and a beta of 0.98. The company has a current ratio of 0.66, a quick 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 firm has a 50 day moving average of $125.39 and a two-hundred day moving average of $112.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.17 by $0.07. The company had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. Cullen/Frost Bankers's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.38 EPS. Equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.73 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.67%. Cullen/Frost Bankers's dividend payout ratio is presently 47.15%.

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.