Millennium Management LLC Decreases Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Millennium Management LLC trimmed its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 78.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,061 shares of the bank's stock after selling 143,905 shares during the period. Millennium Management LLC owned 0.06% of Cullen/Frost Bankers worth $4,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWM LLC raised its stake in shares of Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank's stock valued at $38,000 after buying an additional 106 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank's stock worth $44,000 after purchasing an additional 186 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the second quarter worth $54,000. GAMMA Investing LLC increased its holdings in shares of Cullen/Frost Bankers by 40.7% in the first quarter. GAMMA Investing LLC now owns 574 shares of the bank's stock valued at $65,000 after purchasing an additional 166 shares during the last quarter. Finally, North Star Investment Management Corp. acquired a new position in shares of Cullen/Frost Bankers in the first quarter valued at $69,000. 86.90% of the stock is currently owned by institutional investors.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company's stock, valued at $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the company's stock in a transaction on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares of the company's stock, valued at $2,243,796.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares of the company's stock, valued at $190,481.60. This trade represents a 0.00 % 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.

Cullen/Frost Bankers Stock Up 2.6 %

Shares of NYSE:CFR traded up $2.98 during trading hours on Friday, hitting $118.80. The company's stock had a trading volume of 378,627 shares, compared to its average volume of 483,440. The firm's fifty day moving average price is $110.20 and its 200 day moving average price is $107.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. Cullen/Frost Bankers, Inc. has a 52 week low of $82.25 and a 52 week high of $123.17. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 1.42 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The firm had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. During the same period last year, the firm posted $2.47 earnings per share. As a group, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.59 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.95 dividend. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.80 annualized dividend and a yield of 3.20%. Cullen/Frost Bankers's dividend payout ratio (DPR) is 44.92%.

Analyst Ratings Changes

A number of research firms have weighed in on CFR. Truist Financial decreased their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating for the company in a research report on Friday, September 20th. Stephens lifted their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an "equal weight" rating in a report on Friday, July 26th. Royal Bank of Canada increased their price target on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a "sector perform" rating in a research report on Friday, July 26th. Citigroup cut their price target on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a "sell" rating on the stock in a report on Monday, September 30th. Finally, Morgan Stanley decreased their target price on shares of 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers presently has an average rating of "Hold" and an average target price of $121.31.

Cullen/Frost Bankers Company 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.