Cullen/Frost Bankers (NYSE:CFR) Shares Gap Up on Insider Buying Activity

Posted by Defense World Staff on May 6th, 2023

Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating)’s share price gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $93.42, but opened at $100.03. Cullen/Frost Bankers shares last traded at $99.99, with a volume of 119,750 shares trading hands.

Specifically, insider Paul Bracher sold 5,848 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $130.97, for a total value of $765,912.56. Following the transaction, the insider now directly owns 92,834 shares in the company, valued at $12,158,468.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cullen/Frost Bankers news, insider Paul Bracher sold 5,848 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $130.97, for a total value of $765,912.56. Following the completion of the sale, the insider now owns 92,834 shares of the company’s stock, valued at $12,158,468.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Candace K. Wolfshohl acquired 700 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were bought at an average cost of $108.28 per share, with a total value of $75,796.00. Following the purchase, the executive vice president now owns 16,291 shares of the company’s stock, valued at approximately $1,763,989.48. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 18,200 shares of company stock worth $1,932,626. Insiders own 2.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wedbush increased their price objective on Cullen/Frost Bankers from $110.00 to $120.00 in a report on Friday, April 28th. Raymond James downgraded Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 21st. StockNews.com assumed coverage on Cullen/Frost Bankers in a report on Thursday, March 16th. They issued a “sell” rating for the company. Stephens decreased their price objective on Cullen/Frost Bankers from $154.00 to $140.00 and set an “equal weight” rating for the company in a report on Friday, January 27th. Finally, JPMorgan Chase & Co. reduced their price target on Cullen/Frost Bankers from $155.00 to $123.00 in a report on Thursday, April 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus target price of $134.69.

Cullen/Frost Bankers Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $6.58 billion, a PE ratio of 10.21, a PEG ratio of 1.06 and a beta of 1.04. The firm has a 50-day moving average of $108.99 and a 200 day moving average of $127.85.

Cullen/Frost Bankers (NYSE:CFR – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The bank reported $2.70 EPS for the quarter, beating the consensus estimate of $2.55 by $0.15. Cullen/Frost Bankers had a return on equity of 21.59% and a net margin of 30.40%. The company had revenue of $505.09 million for the quarter, compared to analysts’ expectations of $503.93 million. During the same period last year, the firm posted $1.51 earnings per share. Cullen/Frost Bankers’s revenue was up 44.1% compared to the same quarter last year. As a group, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 9.79 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $3.48 annualized dividend and a dividend yield of 3.41%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 34.77%.

Institutional Investors Weigh In On Cullen/Frost Bankers

Several institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. purchased a new position in Cullen/Frost Bankers in the fourth quarter worth about $1,648,000. FORA Capital LLC purchased a new position in Cullen/Frost Bankers in the third quarter worth about $369,000. Teza Capital Management LLC boosted its position in Cullen/Frost Bankers by 129.2% in the third quarter. Teza Capital Management LLC now owns 5,095 shares of the bank’s stock worth $674,000 after purchasing an additional 2,872 shares during the last quarter. Edge Capital Group LLC boosted its position in Cullen/Frost Bankers by 4.6% in the fourth quarter. Edge Capital Group LLC now owns 2,385 shares of the bank’s stock worth $319,000 after purchasing an additional 104 shares during the last quarter. Finally, Orser Capital Management LLC boosted its position in Cullen/Frost Bankers by 520.5% in the fourth quarter. Orser Capital Management LLC now owns 23,175 shares of the bank’s stock worth $3,098,000 after purchasing an additional 19,440 shares during the last quarter. 81.93% of the stock is owned by hedge funds and other institutional investors.

About Cullen/Frost Bankers

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Cullen/Frost Bankers, Inc is a financial holding company, which engages in the provision of commercial and consumer banking services. It operates through the Banking and Frost Wealth Advisors segments. The Banking segment operates commercial and consumer banking services. The Frost Wealth Advisors segment includes fee-based services within private trust, retirement services, and financial management services.