Janney Montgomery Scott LLC Buys Shares of 16,566 Cullen/Frost Bankers, Inc. (NYSE:CFR)

Janney Montgomery Scott LLC purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 16,566 shares of the bank's stock, valued at approximately $1,853,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Tidal Investments LLC raised its position in shares of Cullen/Frost Bankers by 125.2% in the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank's stock worth $1,338,000 after purchasing an additional 6,610 shares during the last quarter. Natixis bought a new position in shares of Cullen/Frost Bankers during the 1st quarter valued at approximately $957,000. American Century Companies Inc. increased 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 purchasing an additional 7,236 shares during the last quarter. Raymond James & Associates grew its position in Cullen/Frost Bankers by 10.0% in 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 last quarter. Finally, Strategic Financial Concepts LLC grew its position in shares of Cullen/Frost Bankers by 7,109.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank's stock worth $255,000 after buying an additional 247,416 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $399,525.92. This trade represents a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction that occurred 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 sale, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial decreased their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating for the company in a research note on Friday, September 20th. Compass Point raised their price objective on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Maxim Group lifted their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Royal Bank of Canada lifted their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a "sector perform" rating in a research report on Friday, November 1st. 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 issued a buy rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of "Hold" and a consensus price target of $123.86.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR traded up $0.80 during mid-day trading on Thursday, hitting $139.48. 463,566 shares of the stock traded hands, compared to its average volume of 458,264. The company has a market cap of $8.94 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.70 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $144.89. The firm has a 50 day simple moving average of $120.23 and a two-hundred day simple moving average of $110.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted 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 firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business's quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $2.38 EPS. As a group, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 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. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers's payout ratio is currently 47.15%.

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.