Ceredex Value Advisors LLC Sells 9,782 Shares of Cullen/Frost Bankers, Inc. $CFR

Ceredex Value Advisors LLC cut its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,450 shares of the bank’s stock after selling 9,782 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Cullen/Frost Bankers were worth $13,875,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in Cullen/Frost Bankers in the second quarter worth about $90,484,000. Impax Asset Management Group plc grew its holdings in shares of Cullen/Frost Bankers by 58.7% during the second quarter. Impax Asset Management Group plc now owns 822,878 shares of the bank’s stock valued at $104,861,000 after buying an additional 304,491 shares during the last quarter. Fiera Capital Corp bought a new stake in shares of Cullen/Frost Bankers during the third quarter valued at approximately $29,769,000. Goldman Sachs Group Inc. raised its holdings in Cullen/Frost Bankers by 61.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 605,697 shares of the bank’s stock worth $75,833,000 after acquiring an additional 230,993 shares during the last quarter. Finally, First National Bank of Omaha purchased a new position in Cullen/Frost Bankers in the 3rd quarter worth approximately $12,956,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Down 0.3%

NYSE CFR opened at $134.04 on Wednesday. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $148.97. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $8.47 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 4.94 and a beta of 0.63. The stock’s 50-day moving average price is $139.21 and its 200-day moving average price is $130.82.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.09. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $578.05 million. Cullen/Frost Bankers had a return on equity of 15.49% and a net margin of 22.21%.During the same period in the previous year, the company posted $2.36 EPS. On average, equities research analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, February 27th. Cullen/Frost Bankers’s dividend payout ratio is presently 40.32%.

Analyst Upgrades and Downgrades

CFR has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Cullen/Frost Bankers from $136.00 to $143.00 and gave the company an “underweight” rating in a research note on Monday, March 2nd. Barclays boosted their price target on Cullen/Frost Bankers from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. DA Davidson increased their price objective on Cullen/Frost Bankers from $136.00 to $144.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Keefe, Bruyette & Woods lifted their price objective on Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Finally, Citigroup boosted their target price on Cullen/Frost Bankers from $114.00 to $125.00 and gave the stock a “sell” rating in a research report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $142.67.

Insider Activity

In other news, EVP Bobby Berman sold 1,000 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $137.07, for a total transaction of $137,070.00. Following the sale, the executive vice president directly owned 28,406 shares in the company, valued at $3,893,610.42. This trade represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.