State Street Corp Lowers Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

State Street Corp cut its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,468,008 shares of the bank's stock after selling 20,228 shares during the period. State Street Corp owned 5.41% of Cullen/Frost Bankers worth $387,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd increased its position in shares of Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank's stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Asset Dedication LLC increased its position in Cullen/Frost Bankers by 63.3% during the third 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. Brooklyn Investment Group purchased a new stake in shares of Cullen/Frost Bankers in the third quarter valued at $44,000. Allworth Financial LP lifted its holdings in shares of Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank's stock worth $50,000 after acquiring an additional 239 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Cullen/Frost Bankers during the 3rd quarter worth about $52,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CFR shares. Wedbush decreased their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating for the company in a research note on Tuesday, September 24th. Citigroup raised their price target on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a "sell" rating in a research note on Monday, November 4th. Stephens upped their price objective 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. Keefe, Bruyette & Woods boosted their target price on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, Compass Point upped their price target on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of "Hold" and an average target price of $127.07.

Cullen/Frost Bankers Stock Up 0.2 %

Shares of NYSE CFR traded up $0.28 during mid-day trading on Tuesday, reaching $137.41. 218,918 shares of the company were exchanged, compared to its average volume of 446,772. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64. The firm has a 50-day moving average of $130.30 and a 200 day moving average of $114.81. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.66 and a beta of 0.99. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

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 the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same period in the prior year, the firm posted $2.38 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts expect 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 will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.77%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers's dividend payout ratio is currently 47.15%.

Insider Transactions at Cullen/Frost Bankers

In other news, CEO Phillip D. Green sold 14,358 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the company'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 value 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. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,864 shares of company stock valued at $2,977,033. Corporate insiders own 3.00% of the company's stock.

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.