Wellington Management Group LLP Sells 94,459 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Wellington Management Group LLP lessened its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 28.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 237,132 shares of the bank's stock after selling 94,459 shares during the quarter. Wellington Management Group LLP owned about 0.37% of Cullen/Frost Bankers worth $26,526,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Covestor Ltd raised its position in shares of Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank's stock valued at $25,000 after buying an additional 141 shares during the last quarter. Asset Dedication LLC lifted its position in shares of Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank's stock worth $30,000 after acquiring an additional 105 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Cullen/Frost Bankers during the 3rd quarter worth approximately $44,000. Allworth Financial LP grew its holdings in shares of Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank's stock worth $50,000 after purchasing an additional 239 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Cullen/Frost Bankers during the third quarter valued at approximately $52,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Up 0.2 %

CFR stock traded up $0.21 during trading hours on Friday, reaching $137.77. 159,901 shares of the stock were exchanged, compared to its average volume of 444,230. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.66 and a beta of 0.99. The firm's 50-day moving average is $132.06 and its 200-day moving average is $115.38. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. 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 (NYSE:CFR - Get Free Report) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.07. The business had revenue of $518.04 million for the quarter, compared to analyst estimates 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 for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 EPS. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.76%. Cullen/Frost Bankers's dividend payout ratio (DPR) is presently 47.15%.

Insider Activity at Cullen/Frost Bankers

In related news, CEO Phillip D. Green sold 14,358 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at approximately $13,026,597.08. This trade represents a 13.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Howard L. Kasanoff sold 4,000 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the transaction, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,864 shares of company stock valued at $2,977,033. 2.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley lowered their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating on the stock in a research note on Monday, September 30th. Keefe, Bruyette & Woods raised their price objective on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Compass Point boosted their target price on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday. Royal Bank of Canada lifted 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. Finally, Evercore ISI dropped their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating for the company in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.