VELA Investment Management LLC Has $467,000 Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

VELA Investment Management LLC reduced its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 62.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,307 shares of the bank’s stock after selling 7,268 shares during the quarter. VELA Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $467,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Macquarie Group Ltd. acquired a new position in shares of Cullen/Frost Bankers in the 1st quarter valued at approximately $25,000. Lazard Asset Management LLC acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter valued at approximately $26,000. NBC Securities Inc. acquired a new position in shares of Cullen/Frost Bankers in the 3rd quarter valued at approximately $27,000. Arvest Investments Inc. acquired a new position in shares of Cullen/Frost Bankers in the 4th quarter valued at approximately $35,000. Finally, ICA Group Wealth Management LLC bought a new stake in Cullen/Frost Bankers in the 4th quarter valued at approximately $36,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on CFR. DA Davidson restated a “buy” rating and issued a $126.00 target price on shares of Cullen/Frost Bankers in a research note on Thursday, March 28th. 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 Tuesday, April 9th. UBS Group boosted their target price on Cullen/Frost Bankers from $110.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Morgan Stanley boosted their target price on Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Stephens boosted their target price on Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $117.92.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the sale, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul Bracher sold 9,820 shares of the stock in a transaction 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 sale, the insider now directly owns 96,380 shares in the company, valued at $10,543,972. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock traded down $0.04 during trading on Monday, reaching $107.97. 350,878 shares of the company’s stock were exchanged, compared to its average volume of 413,050. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $6.93 billion, a PE ratio of 11.83, a PEG ratio of 1.34 and a beta of 1.04. Cullen/Frost Bankers, Inc. has a twelve month low of $82.25 and a twelve month high of $120.31. The firm’s fifty day moving average price is $107.96 and its 200-day moving average price is $102.56.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data 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 return on equity of 19.66% and a net margin of 22.60%. The firm had revenue of $523.66 million for the quarter, compared to analyst estimates of $498.09 million. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.49 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Wednesday, February 28th. Cullen/Frost Bankers’s dividend payout ratio is 40.44%.

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.