First National Bank of Hutchinson Sells 1,198 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

First National Bank of Hutchinson lessened its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 16.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,234 shares of the bank’s stock after selling 1,198 shares during the quarter. First National Bank of Hutchinson’s holdings in Cullen/Frost Bankers were worth $676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in Cullen/Frost Bankers during the fourth quarter valued at about $26,000. Macquarie Group Ltd. bought a new stake in shares of Cullen/Frost Bankers in the 1st quarter worth approximately $25,000. ICA Group Wealth Management LLC purchased a new position in Cullen/Frost Bankers in the fourth quarter valued at approximately $36,000. NBC Securities Inc. bought a new position in Cullen/Frost Bankers during the third quarter valued at $27,000. Finally, Covestor Ltd grew its holdings in Cullen/Frost Bankers by 80.7% during the first quarter. Covestor Ltd now owns 309 shares of the bank’s stock valued at $43,000 after purchasing an additional 138 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Price Performance

Shares of Cullen/Frost Bankers stock traded up $1.00 on Monday, hitting $111.41. 9,712 shares of the company traded hands, compared to its average volume of 411,792. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $120.31. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.06. The company has a market cap of $7.15 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.38 and a beta of 1.04. The firm’s 50-day simple moving average is $107.57 and its 200 day simple moving average is $101.86.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.17. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. The business had revenue of $523.66 million for the quarter, compared to analysts’ expectations of $498.09 million. Analysts expect that Cullen/Frost Bankers, Inc. will post 8.44 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, February 28th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 40.44%.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $109.40, for a total value of $1,074,308.00. Following the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $10,543,972. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the completion of the sale, the executive vice president now owns 27,815 shares in the company, valued at $2,934,204.35. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on CFR shares. Royal Bank of Canada restated a “sector perform” rating and issued a $118.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, January 26th. Compass Point cut Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. DA Davidson reissued a “buy” rating and set a $126.00 price objective on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Evercore ISI lifted their target price on Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an “underperform” rating in a report on Thursday, March 28th. Finally, Stephens increased their price target on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $116.15.

About Cullen/Frost Bankers

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.