Tower Bridge Advisors Sells 1,500 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Tower Bridge Advisors lowered its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 43.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,950 shares of the bank’s stock after selling 1,500 shares during the quarter. Tower Bridge Advisors’ holdings in Cullen/Frost Bankers were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC raised its stake in shares of Cullen/Frost Bankers by 125.2% in the first quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock worth $1,338,000 after buying an additional 6,610 shares during the period. Natixis purchased a new stake in shares of Cullen/Frost Bankers during the first quarter worth about $957,000. American Century Companies Inc. grew its position in shares of Cullen/Frost Bankers by 11.9% during the second quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock worth $6,941,000 after purchasing an additional 7,236 shares in the last quarter. Raymond James & Associates grew its position in shares of 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 purchasing an additional 10,884 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its position in shares of Cullen/Frost Bankers by 7,109.7% during the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock worth $255,000 after purchasing an additional 247,416 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock opened at $139.27 on Monday. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a 50 day moving average price of $120.88 and a 200-day moving average price of $110.97. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $144.89.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.38 EPS. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced 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. This represents a $3.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Evercore ISI cut their target price on 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. Royal Bank of Canada increased their target price on 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. Morgan Stanley cut their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Compass Point increased their target price on Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Wedbush cut their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $123.86.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at $399,525.92. The trade was a 58.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction 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 sale, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

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.