Tidal Investments LLC increased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 30.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,689 shares of the bank's stock after acquiring an additional 4,348 shares during the period. Tidal Investments LLC's holdings in Cullen/Frost Bankers were worth $2,091,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Pathstone Holdings LLC lifted its stake in shares of Cullen/Frost Bankers by 45.0% in the 3rd 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. lifted its position in Cullen/Frost Bankers by 11.9% in the second 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 boosted its stake in Cullen/Frost Bankers by 10.0% during 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 position in Cullen/Frost Bankers during the third quarter valued at $784,000. Finally, Strategic Financial Concepts LLC increased its position in 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 last quarter. 86.90% of the stock is owned by institutional investors.
A number of equities analysts recently commented on CFR shares. Stephens lifted 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 note on Friday, November 1st. Evercore ISI dropped their target price 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. Maxim Group upped their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Morgan Stanley decreased their price target on Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating for the company in a research note on Monday, September 30th. Finally, Compass Point upped their price objective on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $127.07.
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Shares of Cullen/Frost Bankers stock opened at $139.53 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.66 and a beta of 0.99. The firm's 50-day moving average is $133.08 and its two-hundred day moving average is $116.11. 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 - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company's quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $2.38 earnings per share. As a group, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers's payout ratio is 47.15%.
In other news, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the transaction, the chief executive officer now owns 94,423 shares of the company's stock, valued at $13,026,597.08. The trade was a 13.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now directly owns 26,661 shares of the company's stock, valued at $3,367,550.91. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock worth $2,977,033 in the last three months. 2.89% of the stock is owned by insiders.
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.
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