Bank of Montreal Can Purchases 111,919 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bank of Montreal Can boosted its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 515.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,618 shares of the bank’s stock after acquiring an additional 111,919 shares during the period. Bank of Montreal Can owned about 0.21% of Cullen/Frost Bankers worth $14,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Champlain Investment Partners LLC increased its holdings in Cullen/Frost Bankers by 7.7% during the third quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock valued at $381,897,000 after buying an additional 244,445 shares during the period. Montrusco Bolton Investments Inc. boosted its position in Cullen/Frost Bankers by 10.2% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock valued at $135,252,000 after acquiring an additional 111,719 shares in the last quarter. Boston Trust Walden Corp purchased a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at $107,166,000. Dimensional Fund Advisors LP raised its position in shares of Cullen/Frost Bankers by 14.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock worth $96,856,000 after acquiring an additional 120,333 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Cullen/Frost Bankers by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank’s stock worth $90,185,000 after purchasing an additional 25,909 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CFR. Stephens boosted their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Wedbush decreased their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Compass Point raised their target price on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Truist Financial reduced their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Finally, Royal Bank of Canada raised their price objective 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. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $123.86.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, CEO Phillip D. Green sold 14,358 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the sale, the chief executive officer now owns 94,423 shares in the company, valued at approximately $13,026,597.08. This trade represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the transaction, the executive vice president now 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,864 shares of company stock valued at $2,977,033. 2.89% of the stock is owned by company insiders.

Cullen/Frost Bankers Stock Performance

CFR opened at $140.62 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64. The firm has a 50 day moving average of $127.06 and a two-hundred day moving average of $113.28. The firm has a market capitalization of $9.02 billion, a PE ratio of 17.45, a P/E/G ratio of 1.72 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last posted 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 company had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.38 earnings per share. On average, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.73 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

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

About Cullen/Frost Bankers

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.