Bank of Montreal Can Has $2.21 Million Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bank of Montreal Can raised its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,699 shares of the bank’s stock after buying an additional 717 shares during the quarter. Bank of Montreal Can’s holdings in Cullen/Frost Bankers were worth $2,208,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Cullen/Frost Bankers by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock valued at $695,729,000 after buying an additional 19,755 shares during the period. Champlain Investment Partners LLC increased its holdings in shares of Cullen/Frost Bankers by 18.4% during the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock valued at $359,378,000 after acquiring an additional 495,215 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Cullen/Frost Bankers by 18.8% during the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock valued at $114,994,000 after acquiring an additional 161,580 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cullen/Frost Bankers by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock valued at $96,856,000 after acquiring an additional 120,333 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Cullen/Frost Bankers by 1.6% during the first quarter. Principal Financial Group Inc. now owns 821,103 shares of the bank’s stock valued at $92,432,000 after acquiring an additional 12,897 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley decreased their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday. Wedbush decreased their price objective 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. Evercore ISI decreased their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday. DA Davidson upped their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Stephens upped their price target on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $121.14.

Cullen/Frost Bankers Stock Up 0.5 %

CFR stock opened at $108.95 on Friday. Cullen/Frost Bankers, Inc. has a 1-year low of $82.25 and a 1-year high of $123.17. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $110.47 and its two-hundred day simple moving average is $107.05. The stock has a market cap of $7.00 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.36 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The firm had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. During the same quarter in the prior year, the firm earned $2.47 EPS. Analysts expect that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio is currently 44.92%.

Insider Activity

In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of the 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 sale, the executive vice president now directly owns 1,598 shares in the company, valued at approximately $190,481.60. The disclosure for this sale can be found here. Insiders own 2.89% 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.