National Bank of Canada FI Purchases New Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

National Bank of Canada FI acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,176 shares of the bank's stock, valued at approximately $1,586,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CFR. Pathstone Holdings LLC raised its stake in 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. raised 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 valued at $6,941,000 after buying an additional 7,236 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Cullen/Frost Bankers by 10.0% in the third quarter. Raymond James & Associates now owns 119,447 shares of the bank's stock valued at $13,361,000 after buying an additional 10,884 shares during the period. Hancock Whitney Corp bought a new stake in shares of Cullen/Frost Bankers in the third quarter valued at approximately $784,000. Finally, Strategic Financial Concepts LLC grew its position 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 worth $255,000 after buying an additional 247,416 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the transaction, the chief executive officer now directly owns 94,423 shares in the company, 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. In the last 90 days, insiders sold 21,864 shares of company stock worth $2,977,033. 2.89% of the stock is currently owned by insiders.

Cullen/Frost Bankers Trading Up 0.2 %

Shares of Cullen/Frost Bankers stock traded up $0.24 during trading on Friday, hitting $137.80. The company's stock had a trading volume of 280,228 shares, compared to its average volume of 281,693. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. 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, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The stock has a 50-day moving average price of $132.55 and a two-hundred day moving average price of $115.84.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating analysts' consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the previous year, the company posted $2.38 EPS. The business's revenue was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.95 per share. The ex-dividend date was Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.76%. Cullen/Frost Bankers's payout ratio is 47.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CFR shares. Stephens upped their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. Wedbush dropped their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating for the company in a research report on Tuesday, September 24th. Royal Bank of Canada increased 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 research report on Friday, November 1st. Maxim Group upped their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Compass Point lifted their price target on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $127.07.

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.