Fifth Third Bancorp Has $5.37 Million Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Fifth Third Bancorp cut its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 40,023 shares of the bank’s stock after selling 101 shares during the quarter. Fifth Third Bancorp’s holdings in Cullen/Frost Bankers were worth $5,373,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Covestor Ltd raised its stake in Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after acquiring an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth about $29,000. Asset Dedication LLC increased its position in shares of Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares in the last quarter. UMB Bank n.a. lifted its holdings in Cullen/Frost Bankers by 45.8% during the 4th quarter. UMB Bank n.a. now owns 245 shares of the bank’s stock valued at $33,000 after purchasing an additional 77 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Cullen/Frost Bankers in the third quarter valued at about $44,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $138.96 on Monday. The stock has a market cap of $8.91 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. The stock has a 50-day moving average of $137.79 and a 200-day moving average of $123.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. During the same period last year, the business posted $2.38 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.76 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

Analyst Ratings Changes

Several analysts have recently weighed in on CFR shares. Evercore ISI dropped their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Maxim Group increased their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley reduced their price target on shares of 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. Compass Point raised their price objective on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $127.07.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 4,000 shares of the 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 directly owns 2,888 shares in the company, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the sale, the chief executive officer now owns 94,423 shares in the company, valued at $13,026,597.08. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,864 shares of company stock valued at $2,977,033 over the last 90 days. 2.89% of the stock is owned by company insiders.

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.