Harbor Capital Advisors Inc. Lowers Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Harbor Capital Advisors Inc. cut its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,353 shares of the bank’s stock after selling 243 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Cullen/Frost Bankers were worth $182,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Choreo LLC bought a new position in shares of Cullen/Frost Bankers during the second quarter valued at $212,000. American Century Companies Inc. grew its position in Cullen/Frost Bankers by 11.9% during the 2nd quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock valued at $6,941,000 after purchasing an additional 7,236 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cullen/Frost Bankers by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after buying an additional 120,333 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Cullen/Frost Bankers by 8.9% in the second quarter. Renaissance Technologies LLC now owns 97,900 shares of the bank’s stock worth $9,950,000 after buying an additional 8,000 shares in the last quarter. Finally, Argent Trust Co grew its holdings in shares of Cullen/Frost Bankers by 4.5% during the second quarter. Argent Trust Co now owns 53,069 shares of the bank’s stock valued at $5,393,000 after buying an additional 2,304 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CFR. Compass Point upped their target price on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Royal Bank of Canada increased their price objective on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods lifted their target price on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Morgan Stanley decreased their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. Finally, Truist Financial dropped their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Four equities 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 an average rating of “Hold” and a consensus price target of $127.07.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at $399,525.92. This trade represents a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phillip D. Green sold 14,358 shares of the business’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 transaction, the chief executive officer now owns 94,423 shares in the company, valued at $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,864 shares of company stock worth $2,977,033 over the last three months. 2.89% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Price Performance

NYSE CFR opened at $140.66 on Thursday. The business’s fifty day moving average is $137.58 and its 200 day moving average is $121.56. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $147.64. 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 company has a market capitalization of $9.02 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. The firm 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%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 earnings per share. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.70%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

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.