King Luther Capital Management Corp Sells 47,706 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

King Luther Capital Management Corp reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,554,559 shares of the bank's stock after selling 47,706 shares during the quarter. King Luther Capital Management Corp owned approximately 2.42% of Cullen/Frost Bankers worth $173,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CFR. Tidal Investments LLC lifted its position in shares of Cullen/Frost Bankers by 125.2% during the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank's stock valued at $1,338,000 after buying an additional 6,610 shares in the last quarter. Natixis bought a new position in shares of Cullen/Frost Bankers in the first quarter worth approximately $957,000. American Century Companies Inc. boosted its position in shares of Cullen/Frost Bankers by 11.9% in the second quarter. American Century Companies Inc. now owns 68,296 shares of the bank's stock worth $6,941,000 after purchasing an additional 7,236 shares during the period. Raymond James & Associates raised its position 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 purchasing an additional 10,884 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake 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 valued at $255,000 after buying an additional 247,416 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction, the executive vice president now owns 2,888 shares of the company's stock, valued at $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.89% of the company's stock.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $137.73 on Thursday. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $144.89. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $122.74 and a 200-day moving average price of $111.60. The firm has a market capitalization of $8.83 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.67 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. The business 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 company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.38 earnings per share. As a group, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.76%. Cullen/Frost Bankers's dividend payout ratio is 47.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CFR shares. Compass Point raised their price target on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. 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 note on Friday, November 1st. Morgan Stanley decreased their target price on 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. Wedbush decreased their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 24th. 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $123.86.

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.

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