Insider Selling: Cullen/Frost Bankers, Inc. (CFR) EVP Sells 13,000 Shares of Stock

Cullen/Frost Bankers, Inc. (NYSE:CFR) EVP William L. Perotti sold 13,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $105.57, for a total transaction of $1,372,410.00. Following the completion of the transaction, the executive vice president now owns 92,382 shares in the company, valued at $9,752,767.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) opened at $103.54 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.65 and a quick ratio of 0.65. Cullen/Frost Bankers, Inc. has a twelve month low of $81.09 and a twelve month high of $108.77. The firm has a market cap of $6,565.96, a PE ratio of 18.98, a P/E/G ratio of 1.73 and a beta of 1.37.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, January 25th. The bank reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.08. Cullen/Frost Bankers had a net margin of 28.86% and a return on equity of 11.90%. The business had revenue of $358.69 million for the quarter, compared to analysts’ expectations of $351.34 million. During the same quarter last year, the company earned $1.28 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. analysts expect that Cullen/Frost Bankers, Inc. will post 6.31 earnings per share for the current year.

Cullen/Frost Bankers announced that its board has authorized a share buyback program on Thursday, October 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.20%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 41.38%.

Several hedge funds have recently added to or reduced their stakes in CFR. Alliancebernstein L.P. increased its holdings in shares of Cullen/Frost Bankers by 0.6% in the 2nd quarter. Alliancebernstein L.P. now owns 33,537 shares of the bank’s stock worth $3,149,000 after acquiring an additional 200 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of Cullen/Frost Bankers by 24.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 42,406 shares of the bank’s stock worth $3,982,000 after acquiring an additional 8,295 shares during the period. Citigroup Inc. increased its holdings in shares of Cullen/Frost Bankers by 5.2% in the 2nd quarter. Citigroup Inc. now owns 4,059 shares of the bank’s stock worth $381,000 after acquiring an additional 199 shares during the period. Northern Trust Corp increased its holdings in shares of Cullen/Frost Bankers by 2.1% in the 2nd quarter. Northern Trust Corp now owns 470,405 shares of the bank’s stock worth $44,176,000 after acquiring an additional 9,621 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Cullen/Frost Bankers by 2.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 122,292 shares of the bank’s stock worth $11,484,000 after acquiring an additional 3,084 shares during the period. 80.26% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on CFR. Barclays raised their price target on shares of Cullen/Frost Bankers from $110.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Maxim Group restated a “buy” rating and issued a $120.00 price target (up from $110.00) on shares of Cullen/Frost Bankers in a research report on Friday, January 26th. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research report on Wednesday, January 10th. Morgan Stanley raised their price target on shares of Cullen/Frost Bankers from $96.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, SunTrust Banks restated a “buy” rating and issued a $116.00 price target on shares of Cullen/Frost Bankers in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $103.19.

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About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.

Insider Buying and Selling by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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