Deprince Race & Zollo Inc. Sells 69,323 Shares of Cullen/Frost Bankers, Inc. $CFR

Deprince Race & Zollo Inc. reduced its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 25.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,076 shares of the bank’s stock after selling 69,323 shares during the quarter. Deprince Race & Zollo Inc. owned about 0.32% of Cullen/Frost Bankers worth $26,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AlphaQuest LLC grew its stake in Cullen/Frost Bankers by 8.0% during the second quarter. AlphaQuest LLC now owns 1,082 shares of the bank’s stock valued at $139,000 after acquiring an additional 80 shares in the last quarter. Cardinal Capital Management boosted its holdings in shares of Cullen/Frost Bankers by 0.5% during the 2nd quarter. Cardinal Capital Management now owns 17,824 shares of the bank’s stock valued at $2,291,000 after purchasing an additional 81 shares during the last quarter. Wedmont Private Capital grew its position in shares of Cullen/Frost Bankers by 6.2% during the third quarter. Wedmont Private Capital now owns 1,687 shares of the bank’s stock valued at $215,000 after purchasing an additional 99 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Cullen/Frost Bankers by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock worth $2,327,000 after purchasing an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Cullen/Frost Bankers by 0.7% in the second quarter. State of Michigan Retirement System now owns 15,464 shares of the bank’s stock worth $1,988,000 after buying an additional 100 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Down 0.4%

Shares of CFR opened at $128.52 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $125.24 and a 200 day moving average of $127.57. The company has a market cap of $8.22 billion, a PE ratio of 13.22, a P/E/G ratio of 2.99 and a beta of 0.64. Cullen/Frost Bankers, Inc. has a 52-week low of $100.31 and a 52-week high of $146.44.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 30th. The bank reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.29. The business had revenue of $567.27 million for the quarter, compared to the consensus estimate of $565.54 million. Cullen/Frost Bankers had a net margin of 21.99% and a return on equity of 15.84%. During the same quarter in the prior year, the firm posted $2.24 earnings per share. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $4.00 annualized dividend and a yield of 3.1%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 41.15%.

Insider Activity

In other news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $127.00, for a total transaction of $88,900.00. Following the transaction, the executive vice president owned 3,795 shares of the company’s stock, valued at approximately $481,965. This represents a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CFR shares. Morgan Stanley raised their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Citigroup raised their target price on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a report on Friday, October 31st. Barclays reduced their price target on shares of Cullen/Frost Bankers from $145.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Friday, December 19th. Royal Bank Of Canada increased their price objective on shares of Cullen/Frost Bankers from $140.00 to $144.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Finally, TD Cowen raised shares of Cullen/Frost Bankers to a “strong-buy” rating in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and an average target price of $135.55.

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.