Montrusco Bolton Investments Inc. Grows Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Montrusco Bolton Investments Inc. grew its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 10.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,209,122 shares of the bank’s stock after acquiring an additional 111,719 shares during the period. Cullen/Frost Bankers comprises approximately 1.4% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 21st biggest holding. Montrusco Bolton Investments Inc.’s holdings in Cullen/Frost Bankers were worth $135,252,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CFR. Covestor Ltd raised its position in Cullen/Frost Bankers by 169.9% in the third 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. Asset Dedication LLC lifted its position in 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 acquiring an additional 105 shares in the last quarter. Allworth Financial LP boosted its holdings in Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after acquiring an additional 239 shares during the period. Capital Performance Advisors LLP acquired a new stake in Cullen/Frost Bankers in the third quarter valued at approximately $52,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers during the second quarter valued at approximately $54,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CFR shares. Morgan Stanley decreased 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 note on Monday, September 30th. Citigroup raised their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research note on Monday, November 4th. DA Davidson boosted their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wedbush lowered their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Finally, Maxim Group upped their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $123.86.

Insider Transactions at Cullen/Frost Bankers

In related news, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction dated 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 sale, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. This trade represents a 13.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the sale, the executive vice president now owns 2,888 shares in the company, valued at approximately $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,864 shares of company stock worth $2,977,033. 2.89% of the stock is currently owned by insiders.

Cullen/Frost Bankers Stock Up 2.0 %

Shares of NYSE:CFR opened at $142.34 on Friday. The company’s fifty day moving average is $123.41 and its two-hundred day moving average is $111.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $144.89. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $517.25 million. During the same period last year, the firm posted $2.38 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.67%. Cullen/Frost Bankers’s payout ratio is currently 47.15%.

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.