Crossmark Global Holdings Inc. Buys 1,462 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Crossmark Global Holdings Inc. lifted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 40.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,095 shares of the bank’s stock after buying an additional 1,462 shares during the period. Crossmark Global Holdings Inc.’s holdings in Cullen/Frost Bankers were worth $570,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Covestor Ltd increased its holdings in Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Asset Dedication LLC grew its holdings in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares during the last quarter. Allworth Financial LP increased its stake in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after buying an additional 239 shares during the period. Capital Performance Advisors LLP bought a new position in Cullen/Frost Bankers in the 3rd quarter valued at approximately $52,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth approximately $54,000. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Performance

NYSE:CFR opened at $139.27 on Friday. The firm has a market capitalization of $8.93 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.68 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $144.89. The company has a fifty day moving average of $120.88 and a 200-day moving average of $110.88. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.07. The firm had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.38 earnings per share. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a yield of 2.73%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Insider Activity

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the transaction, the executive vice president now owns 2,888 shares in the company, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. DA Davidson upped their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Compass Point increased their price objective on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Stephens lifted their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Morgan Stanley reduced their price target on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Finally, Evercore ISI lowered their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $123.86.

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.