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

Fifth Third Bancorp lowered its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,023 shares of the bank’s stock after selling 101 shares during the quarter. Fifth Third Bancorp owned 0.06% of Cullen/Frost Bankers worth $5,373,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CFR. Evercore ISI reduced their price target on shares of 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. Morgan Stanley cut their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Maxim Group boosted their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stephens increased their price objective 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. Finally, Royal Bank of Canada boosted their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $127.07.

Insiders Place Their Bets

In related news, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the transaction, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This represents a 11.62 % 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 in the last three months. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Trading Down 0.9 %

NYSE:CFR opened at $138.96 on Monday. The company’s 50 day moving average is $137.79 and its 200-day moving average is $123.80. 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, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.73 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 EPS 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 firm had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. During the same quarter last year, the firm posted $2.38 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.76 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

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

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.