Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 12,952 Cullen/Frost Bankers, Inc. (NYSE:CFR)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,952 shares of the bank's stock, valued at approximately $1,449,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CFR. Boston Trust Walden Corp purchased a new stake in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $107,166,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Cullen/Frost Bankers during the third quarter worth $54,012,000. Deprince Race & Zollo Inc. acquired a new stake in Cullen/Frost Bankers in the second quarter valued at $37,813,000. The Manufacturers Life Insurance Company increased its position in shares of 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 buying an additional 307,129 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its position in shares of Cullen/Frost Bankers by 7,109.7% in the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank's stock valued at $255,000 after buying an additional 247,416 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Trading Down 0.4 %

Shares of CFR stock traded down $0.60 during trading hours on Monday, hitting $140.02. 291,656 shares of the company were exchanged, compared to its average volume of 452,146. The firm has a fifty day moving average of $127.06 and a 200 day moving average of $113.36. 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 firm has a market cap of $8.98 billion, a PE ratio of 17.45, a PEG ratio of 1.69 and a beta of 0.99.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly 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. The company had revenue of $518.04 million for 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 revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.38 earnings per share. Analysts expect that Cullen/Frost Bankers, Inc. will post 8.73 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 47.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Maxim Group increased their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Compass Point increased their price target on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Citigroup lifted their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a "sell" rating in a research report on Monday, November 4th. Evercore ISI lowered their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating on the stock in a report on Wednesday, October 2nd. Finally, Morgan Stanley cut their price target on Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating for the company in a report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of "Hold" and an average price target of $123.86.

Insiders Place Their Bets

In related news, EVP Bobby Berman sold 3,506 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $13,026,597.08. This trade represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock worth $2,977,033 over the last three months. 3.00% of the stock is owned by 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.