Bartlett & CO. Wealth Management LLC Raises Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bartlett & CO. Wealth Management LLC increased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 366,591 shares of the bank’s stock after purchasing an additional 2,241 shares during the period. Bartlett & CO. Wealth Management LLC owned 0.57% of Cullen/Frost Bankers worth $49,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Covestor Ltd boosted its position in shares of Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after buying an additional 141 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cullen/Frost Bankers during the third quarter valued at approximately $29,000. Asset Dedication LLC lifted its position in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Cullen/Frost Bankers by 45.8% in the fourth quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Cullen/Frost Bankers during the 3rd quarter valued at $44,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction 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 transaction, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. This trade represents a 11.62 % 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 in the last quarter. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Performance

CFR stock opened at $140.30 on Thursday. The stock’s fifty day moving average is $137.78 and its two-hundred day moving average is $123.05. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 1.77 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64.

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. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same period in the previous year, the business posted $2.38 EPS. Cullen/Frost Bankers’s revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.71%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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 report on Monday, September 30th. Evercore ISI lowered their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, October 2nd. Citigroup upped their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Stephens raised their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, Compass Point increased their price objective 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. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $127.07.

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.