Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 71,247.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,393 shares of the bank's stock after purchasing an additional 31,349 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Cullen/Frost Bankers were worth $3,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in CFR. Whittier Trust Co. boosted its stake in Cullen/Frost Bankers by 29,055.1% during the 3rd quarter. Whittier Trust Co. now owns 59,768 shares of the bank's stock worth $6,685,000 after purchasing an additional 59,563 shares during the last quarter. Raymond James & Associates boosted its position in Cullen/Frost Bankers by 10.0% during the third quarter. Raymond James & Associates now owns 119,447 shares of the bank's stock worth $13,361,000 after acquiring an additional 10,884 shares during the last quarter. Cardinal Capital Management grew its stake in Cullen/Frost Bankers by 16.1% during the 3rd quarter. Cardinal Capital Management now owns 16,391 shares of the bank's stock valued at $1,833,000 after acquiring an additional 2,275 shares in the last quarter. nVerses Capital LLC raised its holdings in Cullen/Frost Bankers by 537.5% in the 3rd quarter. nVerses Capital LLC now owns 5,100 shares of the bank's stock valued at $570,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Asset Dedication LLC raised its holdings in Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank's stock valued at $30,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CFR shares. Royal Bank of Canada upped their price target on 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. Jefferies Financial Group dropped their target price on Cullen/Frost Bankers from $117.00 to $108.00 and set a "hold" rating for the company in a report on Wednesday, July 3rd. Wedbush reduced their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. Evercore ISI dropped their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating for the company in a report on Wednesday, October 2nd. Finally, Maxim Group boosted their target price on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a "buy" rating in a report on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $121.31.

Cullen/Frost Bankers Trading Up 2.1 %

NYSE CFR traded up $2.56 on Tuesday, reaching $123.02. The stock had a trading volume of 446,876 shares, compared to its average volume of 440,829. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $124.91. The stock has a fifty day moving average price of $112.53 and a two-hundred day moving average price of $107.95. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 1.52 and a beta of 1.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06.

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

Cullen/Frost Bankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.95 dividend. This is a positive change 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 dividend yield of 3.09%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 44.92%.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the business's stock in a transaction on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the transaction, the executive vice president now owns 18,753 shares in the company, valued at $2,243,796.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the transaction, the executive vice president now owns 18,753 shares in the company, valued at approximately $2,243,796.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of the business's 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 transaction, the executive vice president now directly owns 1,598 shares of the company's stock, valued at approximately $190,481.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.89% 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.