Strategic Financial Concepts LLC Takes Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Strategic Financial Concepts LLC purchased a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,480 shares of the bank’s stock, valued at approximately $392,000.

Several other institutional investors also recently added to or reduced their stakes in CFR. ICA Group Wealth Management LLC bought a new stake in Cullen/Frost Bankers during the 4th quarter valued at $33,000. NBC Securities Inc. bought a new stake in shares of Cullen/Frost Bankers in the third quarter valued at about $27,000. Arvest Investments Inc. purchased a new stake in Cullen/Frost Bankers in the fourth quarter worth about $35,000. CWM LLC grew its holdings in Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after acquiring an additional 106 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in Cullen/Frost Bankers during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock traded down $0.97 during mid-day trading on Tuesday, reaching $104.32. 504,105 shares of the company traded hands, compared to its average volume of 424,401. Cullen/Frost Bankers, Inc. has a fifty-two week low of $82.25 and a fifty-two week high of $120.31. The firm’s fifty day moving average is $109.03 and its two-hundred day moving average is $104.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.02. Cullen/Frost Bankers had a return on equity of 18.31% and a net margin of 20.57%. During the same period last year, the business posted $2.70 earnings per share. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.46 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.92 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 3.53%. Cullen/Frost Bankers’s dividend payout ratio is currently 43.50%.

Insider Buying and Selling

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

Analyst Ratings Changes

CFR has been the subject of several research reports. Jefferies Financial Group upped their price target on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods lowered their target price on Cullen/Frost Bankers from $125.00 to $118.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of Cullen/Frost Bankers in a report on Friday. Compass Point cut Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $118.00 price target on shares of Cullen/Frost Bankers in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $117.46.

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.