Sigma Planning Corp Sells 2,369 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Sigma Planning Corp lessened its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 23.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,524 shares of the bank’s stock after selling 2,369 shares during the quarter. Sigma Planning Corp’s holdings in Cullen/Frost Bankers were worth $816,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. bought a new stake in Cullen/Frost Bankers during the 3rd quarter valued at $27,000. Arvest Investments Inc. bought a new stake in Cullen/Frost Bankers during the 4th quarter valued at $35,000. Signaturefd LLC boosted its position in Cullen/Frost Bankers by 87.8% during the 4th quarter. Signaturefd LLC now owns 706 shares of the bank’s stock valued at $77,000 after acquiring an additional 330 shares in the last quarter. Covestor Ltd boosted its position in Cullen/Frost Bankers by 60.7% during the 3rd quarter. Covestor Ltd now owns 911 shares of the bank’s stock valued at $83,000 after acquiring an additional 344 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in Cullen/Frost Bankers by 367.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,000 shares of the bank’s stock valued at $91,000 after acquiring an additional 786 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $114.44 on Wednesday. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.40 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.63 and a quick ratio of 0.63. The business has a fifty day moving average of $108.77 and a 200 day moving average of $103.40. Cullen/Frost Bankers, Inc. has a 1 year low of $82.25 and a 1 year high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, January 25th. The bank reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.17. The business had revenue of $523.66 million during the quarter, compared to analyst estimates of $498.09 million. Cullen/Frost Bankers had a return on equity of 19.66% and a net margin of 22.60%. As a group, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.49 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.22%. Cullen/Frost Bankers’s payout ratio is currently 40.44%.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at approximately $10,543,972. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at approximately $10,543,972. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CFR shares. Keefe, Bruyette & Woods dropped their target price on Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating on the stock in a research report on Friday, January 26th. Truist Financial raised their price objective on Cullen/Frost Bankers from $114.00 to $121.00 and gave the stock a “hold” rating in a research report on Monday, April 1st. DA Davidson reissued a “buy” rating and issued a $126.00 price objective on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 price objective on shares of Cullen/Frost Bankers in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their price objective on Cullen/Frost Bankers from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $117.92.

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.