ProShare Advisors LLC Sells 17,226 Shares of Cullen/Frost Bankers, Inc. $CFR

ProShare Advisors LLC reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 9.2% during the 3rd quarter, Holdings Channel reports. The fund owned 169,140 shares of the bank’s stock after selling 17,226 shares during the period. ProShare Advisors LLC’s holdings in Cullen/Frost Bankers were worth $25,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Symphony Financial Ltd. Co. boosted its holdings in shares of Cullen/Frost Bankers by 2.2% during the second quarter. Symphony Financial Ltd. Co. now owns 3,482 shares of the bank’s stock worth $539,000 after acquiring an additional 75 shares during the period. Reyes Financial Architecture Inc. increased its stake in shares of Cullen/Frost Bankers by 14.4% during the third quarter. Reyes Financial Architecture Inc. now owns 611 shares of the bank’s stock worth $93,000 after purchasing an additional 77 shares during the period. D.A. Davidson & CO. increased its stake in shares of Cullen/Frost Bankers by 4.4% during the third quarter. D.A. Davidson & CO. now owns 1,947 shares of the bank’s stock worth $297,000 after purchasing an additional 82 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Cullen/Frost Bankers by 0.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 12,921 shares of the bank’s stock worth $1,771,000 after purchasing an additional 100 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in Cullen/Frost Bankers by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 15,164 shares of the bank’s stock worth $2,079,000 after purchasing an additional 100 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CFR has been the subject of several recent research reports. Cantor Fitzgerald reduced their price target on Cullen/Frost Bankers from $175.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Wall Street Zen upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Research downgraded Cullen/Frost Bankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Jefferies Financial Group raised Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $135.00 to $160.00 in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods cut shares of Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $180.00 to $175.00 in a research report on Monday. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $171.55.

Cullen/Frost Bankers Stock Up 1.7%

NYSE CFR opened at $160.29 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. Cullen/Frost Bankers, Inc. has a 1-year low of $119.14 and a 1-year high of $170.80. The company has a 50 day moving average of $157.71 and a 200-day moving average of $148.96. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.83 and a beta of 0.56.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 29th. The bank reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $603.83 million during the quarter, compared to analysts’ expectations of $610.19 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%. During the same period in the previous year, the company posted $2.67 earnings per share. On average, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 10.97 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

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

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 2,406 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $157.10, for a total transaction of $377,982.60. Following the sale, the executive vice president directly owned 28,406 shares of the company’s stock, valued at approximately $4,462,582.60. This represents a 7.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.14% of the company’s stock.

Cullen/Frost Bankers News Summary

Here are the key news stories impacting Cullen/Frost Bankers this week:

• Positive Sentiment: Zacks upgraded CFR to a Rank #2 (Buy), citing growing optimism about the bank’s earnings prospects. The upgrade may attract momentum-oriented investors and reinforces expectations for improving results. Cullen/Frost Upgraded to Buy: Here’s Why
• Positive Sentiment: Cullen/Frost’s third-quarter earnings call highlighted continued business growth. This follows quarterly earnings of $2.84 per share, ahead of the $2.80 consensus estimate, which has helped strengthen the investment case despite revenue coming in slightly below expectations. Cullen/Frost Bankers Earnings Call Highlights Growth
• Positive Sentiment: TD Cowen initiated or reiterated a Buy rating on Cullen/Frost, adding to the positive analyst sentiment around the stock. Cullen/Frost Bankers Receives a Buy from TD Cowen
• Positive Sentiment: Wall Street Zen also upgraded its rating on CFR, providing another favorable signal for investor sentiment. Cullen/Frost Bankers Stock Rating Upgraded by Wall Street Zen
• Neutral Sentiment: Evercore ISI reaffirmed its Hold rating, suggesting the firm sees limited near-term catalysts relative to the stock’s valuation. Evercore ISI Reaffirms Hold Rating
• Negative Sentiment: Keefe, Bruyette & Woods downgraded CFR from Outperform to Market Perform and reduced its price target to $175 from $180. Although the target still implies upside, the downgrade signals more cautious expectations.
• Negative Sentiment: Executive Vice President Bobby Berman sold 2,406 shares worth approximately $378,000, reducing his holdings by 7.81%. While not necessarily fundamental, insider selling can weigh modestly on sentiment.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas. Its principal subsidiary, Frost Bank, provides banking and financial services to individuals, businesses and institutions throughout Texas.

Frost Bank offers personal and commercial deposit accounts, loans, mortgages, treasury management, payments and other business banking services. The company also provides wealth management, trust and investment services, brokerage services and insurance solutions through its related businesses.

Frost traces its history to 1868, when Thomas Claiborne Frost founded the bank in San Antonio.