Sowell Financial Services LLC bought a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,380 shares of the bank’s stock, valued at approximately $249,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH bought a new position in Cullen/Frost Bankers during the third quarter worth about $10,080,000. Baillie Gifford & Co. bought a new position in Cullen/Frost Bankers during the third quarter worth about $14,678,000. United Services Automobile Association lifted its holdings in Cullen/Frost Bankers by 13.6% during the third quarter. United Services Automobile Association now owns 19,805 shares of the bank’s stock worth $2,068,000 after acquiring an additional 2,377 shares in the last quarter. Standard Life Aberdeen plc lifted its holdings in Cullen/Frost Bankers by 6.3% during the third quarter. Standard Life Aberdeen plc now owns 34,378 shares of the bank’s stock worth $3,591,000 after acquiring an additional 2,036 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Cullen/Frost Bankers by 18.0% during the third quarter. Franklin Resources Inc. now owns 8,396 shares of the bank’s stock worth $877,000 after acquiring an additional 1,280 shares in the last quarter. 78.56% of the stock is owned by institutional investors.
Shares of Cullen/Frost Bankers stock opened at $101.40 on Monday. The stock has a market capitalization of $6.41 billion, a PE ratio of 18.61, a PEG ratio of 1.54 and a beta of 1.32. Cullen/Frost Bankers, Inc. has a one year low of $90.02 and a one year high of $121.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.63 and a current ratio of 0.63.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.67 dividend. The ex-dividend date is Thursday, November 29th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.64%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 49.17%.
Several research analysts have weighed in on the company. Morgan Stanley reiterated a “hold” rating and set a $115.00 target price on shares of Cullen/Frost Bankers in a report on Tuesday, September 18th. SunTrust Banks reduced their target price on Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, October 29th. Stephens set a $101.00 target price on Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Monday, October 29th. Finally, ValuEngine lowered Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Cullen/Frost Bankers has an average rating of “Hold” and a consensus price target of $115.56.
In other news, insider Bobby Berman sold 1,391 shares of the business’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $101.12, for a total value of $140,657.92. Following the sale, the insider now directly owns 28,112 shares in the company, valued at $2,842,685.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Samuel G. Dawson purchased 3,441 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was purchased at an average price of $101.63 per share, for a total transaction of $349,708.83. Following the completion of the acquisition, the director now owns 4,300 shares of the company’s stock, valued at $437,009. The disclosure for this purchase can be found here. Insiders own 4.64% of the company’s stock.
Cullen/Frost Bankers Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
Further Reading: Understanding Price to Earnings Ratio (PE)
Want to see what other hedge funds are holding CFR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cullen/Frost Bankers, Inc. (NYSE:CFR).
Receive News & Ratings for Cullen/Frost Bankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers and related companies with MarketBeat.com's FREE daily email newsletter.