Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,566 shares of the bank’s stock after selling 95 shares during the period. Orion Portfolio Solutions LLC’s holdings in Cullen/Frost Bankers were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Pathstone Holdings LLC grew its holdings in shares of Cullen/Frost Bankers by 45.0% during the third quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock valued at $2,156,000 after purchasing an additional 5,981 shares during the last quarter. American Century Companies Inc. grew its stake 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 worth $6,941,000 after buying an additional 7,236 shares during the last quarter. Raymond James & Associates increased its position in Cullen/Frost Bankers by 10.0% in the third quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock worth $13,361,000 after buying an additional 10,884 shares during the period. Hancock Whitney Corp bought a new stake in Cullen/Frost Bankers in the third quarter valued at $784,000. Finally, Strategic Financial Concepts LLC boosted its holdings 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 valued at $255,000 after acquiring an additional 247,416 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the transaction, the chief executive officer now owns 94,423 shares in the company, valued at approximately $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 have sold 21,864 shares of company stock valued at $2,977,033 over the last three months. Company insiders own 2.89% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CFR shares. Morgan Stanley cut their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Citigroup lifted their price target on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday, November 4th. Maxim Group raised their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Evercore ISI reduced their price target 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. Finally, Compass Point increased their price target on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $127.07.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $139.53 on Tuesday. The company has a 50-day moving average of $133.08 and a 200-day moving average of $116.11. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. 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 twelve month low of $94.09 and a twelve month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share 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 net margin of 18.81% and a return on equity of 15.82%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $2.38 earnings per share. Analysts forecast that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, November 29th. Cullen/Frost Bankers’s payout ratio is 47.15%.

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.