Cullen/Frost Bankers, Inc. $CFR Stock Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,164,981 shares of the bank’s stock after selling 81,094 shares during the period. King Luther Capital Management Corp owned approximately 1.87% of Cullen/Frost Bankers worth $177,858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at $1,133,453,000. Jupiter Topco LLC purchased a new position in Cullen/Frost Bankers in the 2nd quarter worth $94,297,000. William Blair Investment Management LLC purchased a new position in Cullen/Frost Bankers in the 2nd quarter worth $89,425,000. The Manufacturers Life Insurance Company acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth about $80,127,000. Finally, Bank of New York Mellon Corp acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth about $79,846,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 2,406 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $157.10, for a total value of $377,982.60. Following the completion of the transaction, the executive vice president directly owned 28,406 shares of the company’s stock, valued at approximately $4,462,582.60. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Bracher sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $158.24, for a total value of $458,896.00. Following the completion of the transaction, the insider directly owned 108,736 shares of the company’s stock, valued at $17,206,384.64. The trade was a 2.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,840 shares of company stock valued at $922,169 over the last ninety days. Company insiders own 1.14% of the company’s stock.

Cullen/Frost Bankers Price Performance

NYSE:CFR opened at $158.12 on Thursday. Cullen/Frost Bankers, Inc. has a one year low of $119.14 and a one year high of $170.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.69 and a beta of 0.52. The firm’s fifty day moving average is $157.12 and its two-hundred day moving average is $149.60.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, October 29th. The bank reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $603.83 million for the quarter, compared to the consensus estimate of $610.19 million. Cullen/Frost Bankers had a return on equity of 16.27% and a net margin of 23.37%. During the same period last year, the firm earned $2.67 EPS. Research analysts expect that Cullen/Frost Bankers, Inc. will post 11.02 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $1.03 dividend. The ex-dividend date is Monday, November 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. Cullen/Frost Bankers’s dividend payout ratio is presently 38.33%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CFR shares. Wall Street Zen upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. DA Davidson raised their price objective on Cullen/Frost Bankers from $164.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Stephens upped their target price on Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Morgan Stanley increased their price target on shares of Cullen/Frost Bankers from $200.00 to $201.00 and gave the stock an “overweight” rating in a report on Monday, September 28th. Finally, TD Cowen reduced their price target on shares of Cullen/Frost Bankers from $185.00 to $178.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $171.55.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc. is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and other financial services to individuals and businesses. Frost Bank’s services include consumer and commercial banking, lending, treasury management, and wealth management, including trust and investment services. The company primarily serves customers across Texas through its branches and digital banking channels. The company traces its roots to 1868, when Thomas Claiborne Frost established a mercantile business in San Antonio; banking became part of the business later in the 19th century.