Oddo BHF Asset Management Sas Takes $2.04 Million Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Oddo BHF Asset Management Sas purchased a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,208 shares of the bank's stock, valued at approximately $2,037,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Boston Trust Walden Corp acquired a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth $107,166,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Cullen/Frost Bankers during the third quarter worth about $54,012,000. Deprince Race & Zollo Inc. purchased a new position in Cullen/Frost Bankers during the second quarter worth about $37,813,000. The Manufacturers Life Insurance Company boosted its holdings in Cullen/Frost Bankers by 117.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank's stock valued at $63,618,000 after purchasing an additional 307,129 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Cullen/Frost Bankers by 234.5% during the 3rd quarter. Barclays PLC now owns 436,393 shares of the bank's stock worth $48,814,000 after buying an additional 305,921 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Bobby Berman sold 3,506 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the sale, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. The trade was a 11.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Phillip D. Green sold 14,358 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the completion of the transaction, the chief executive officer now owns 94,423 shares of the company's stock, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock worth $2,977,033 in the last 90 days. Corporate insiders own 2.89% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wedbush lowered their price objective on 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 upped their price target 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. Maxim Group raised 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. Evercore ISI decreased their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 2nd. Finally, Compass Point lifted their price target on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a "neutral" rating in a research report on Tuesday. Four research 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $127.07.

Cullen/Frost Bankers Stock Up 0.2 %

Shares of Cullen/Frost Bankers stock traded up $0.24 during trading hours on Friday, reaching $137.80. 280,228 shares of the company were exchanged, compared to its average volume of 281,693. The firm has a market cap of $8.84 billion, a PE ratio of 17.10, a PEG ratio of 1.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64. The stock's fifty day moving average is $132.55 and its 200 day moving average is $115.73.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. Cullen/Frost Bankers's revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.38 EPS. As a group, equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

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

About Cullen/Frost Bankers

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.