Sunbelt Securities Inc. Sells 424 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Sunbelt Securities Inc. reduced its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 27.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,149 shares of the bank’s stock after selling 424 shares during the period. Sunbelt Securities Inc.’s holdings in Cullen/Frost Bankers were worth $117,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CFR. Northwestern Mutual Wealth Management Co. raised its position in shares of Cullen/Frost Bankers by 2.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,906 shares of the bank’s stock worth $600,000 after acquiring an additional 156 shares during the last quarter. Creative Planning increased its position in Cullen/Frost Bankers by 7.4% during the 2nd quarter. Creative Planning now owns 8,449 shares of the bank’s stock valued at $859,000 after purchasing an additional 585 shares during the period. Algert Global LLC raised its holdings in Cullen/Frost Bankers by 19.7% during the 2nd quarter. Algert Global LLC now owns 37,301 shares of the bank’s stock worth $3,791,000 after purchasing an additional 6,143 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Cullen/Frost Bankers in the 2nd quarter worth approximately $2,732,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at $207,000. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CFR shares. Wedbush dropped their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Maxim Group lifted their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Stephens boosted their price target on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group reduced their price objective on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $121.14.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction on Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction that occurred 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 directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by corporate insiders.

Cullen/Frost Bankers Stock Performance

CFR 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 market cap of $7.00 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.36 and a beta of 1.00. The company’s fifty day moving average price is $110.47 and its two-hundred day moving average price is $107.05. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06.

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

Cullen/Frost Bankers Increases Dividend

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

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.