Sanctuary Advisors LLC Purchases 3,638 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Sanctuary Advisors LLC raised its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 17.7% during the third quarter, Holdings Channel reports. The institutional investor owned 24,170 shares of the bank’s stock after buying an additional 3,638 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cullen/Frost Bankers were worth $2,704,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Covestor Ltd boosted its position in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares during the last quarter. Asset Dedication LLC raised its stake in Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after buying an additional 105 shares during the period. Brooklyn Investment Group acquired a new stake in Cullen/Frost Bankers during the 3rd quarter worth $44,000. Allworth Financial LP raised its stake in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after buying an additional 239 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Cullen/Frost Bankers during the 3rd quarter worth $52,000. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Trading Down 2.1 %

Cullen/Frost Bankers stock opened at $136.68 on Wednesday. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $8.77 billion, a P/E ratio of 16.96, a PEG ratio of 1.66 and a beta of 0.99. The stock has a 50-day simple moving average of $133.08 and a 200 day simple moving average of $116.11.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. During the same quarter last year, the company posted $2.38 earnings per share. Cullen/Frost Bankers’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts expect that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Friday, November 29th. Cullen/Frost Bankers’s payout ratio is currently 47.15%.

Insider Buying and Selling

In other news, EVP Howard L. Kasanoff sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the sale, the executive vice president now owns 2,888 shares in the company, valued at $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the business’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 sale, the chief executive officer now owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,864 shares of company stock worth $2,977,033. Company insiders own 2.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CFR. Keefe, Bruyette & Woods raised their price objective on Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Compass Point lifted their price target on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Stephens lifted their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Wedbush dropped their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada lifted their price target on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $127.07.

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.