Hodges Capital Management Inc. Sells 499 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Hodges Capital Management Inc. trimmed its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,343 shares of the bank’s stock after selling 499 shares during the period. Hodges Capital Management Inc.’s holdings in Cullen/Frost Bankers were worth $717,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Champlain Investment Partners LLC raised its stake in shares of Cullen/Frost Bankers by 7.7% in the third quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock worth $381,897,000 after purchasing an additional 244,445 shares during the last quarter. Montrusco Bolton Investments Inc. raised its position in Cullen/Frost Bankers by 10.2% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock valued at $135,252,000 after buying an additional 111,719 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cullen/Frost Bankers by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,097,697 shares of the bank’s stock valued at $122,820,000 after acquiring an additional 66,223 shares in the last quarter. Boston Trust Walden Corp lifted its stake in Cullen/Frost Bankers by 9.8% during the 4th quarter. Boston Trust Walden Corp now owns 1,052,290 shares of the bank’s stock valued at $141,270,000 after acquiring an additional 94,252 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in 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 acquiring an additional 25,909 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

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 completion of the transaction, the chief executive officer now directly owns 94,423 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Also, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the sale, the executive vice president now directly owns 2,888 shares in the company, valued at $399,525.92. This trade represents a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,858 shares of company stock valued at $4,137,865 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CFR has been the subject of a number of recent analyst reports. DA Davidson downgraded shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $138.00 to $143.00 in a research report on Monday. Maxim Group increased their price target 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. Compass Point boosted their price objective on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $144.00 target price on shares of Cullen/Frost Bankers in a research note on Friday. Finally, Stephens increased their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $130.31.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $136.00 on Tuesday. The firm’s 50-day moving average price is $137.72 and its 200-day moving average price is $125.10. Cullen/Frost Bankers, Inc. has a 52-week low of $94.09 and a 52-week high of $147.64. The company has a market cap of $8.72 billion, a PE ratio of 15.33, a PEG ratio of 1.69 and a beta of 0.99. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 16.04% and a net margin of 18.81%. As a group, analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.66 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, February 28th. Cullen/Frost Bankers’s payout ratio is 42.84%.

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.