Polaris Capital Management LLC Sells 10,400 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Polaris Capital Management LLC cut its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.3% in the fourth quarter, HoldingsChannel reports. The fund owned 307,800 shares of the bank’s stock after selling 10,400 shares during the period. Cullen/Frost Bankers accounts for 2.0% of Polaris Capital Management LLC’s holdings, making the stock its 13th largest position. Polaris Capital Management LLC’s holdings in Cullen/Frost Bankers were worth $41,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CFR. Champlain Investment Partners LLC increased its stake in shares of Cullen/Frost Bankers by 7.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,414,061 shares of the bank’s stock valued at $381,897,000 after acquiring an additional 244,445 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its position in shares of Cullen/Frost Bankers by 10.2% in the third quarter. Montrusco Bolton Investments Inc. now owns 1,209,122 shares of the bank’s stock worth $135,252,000 after purchasing an additional 111,719 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Cullen/Frost Bankers by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,097,697 shares of the bank’s stock valued at $122,820,000 after acquiring an additional 66,223 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Cullen/Frost Bankers by 9.8% during the 4th quarter. Boston Trust Walden Corp now owns 1,052,290 shares of the bank’s stock worth $141,270,000 after purchasing an additional 94,252 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Cullen/Frost Bankers by 3.3% during the third quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank’s stock worth $90,185,000 after acquiring an additional 25,909 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, insider Paul Bracher sold 11,500 shares of Cullen/Frost Bankers stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $139.45, for a total transaction of $1,603,675.00. Following the completion of the transaction, the insider now owns 102,946 shares of the company’s stock, valued at $14,355,819.70. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 of the company’s stock, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $138.73 on Tuesday. The firm has a 50 day simple moving average of $137.54 and a 200 day simple moving average of $125.98. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 6.52 and a beta of 0.99.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, January 30th. The bank reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 16.04% and a net margin of 18.81%. Research analysts predict that Cullen/Frost Bankers, Inc. will post 8.69 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, February 28th. Cullen/Frost Bankers’s dividend payout ratio is presently 42.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Cullen/Frost Bankers from $140.00 to $148.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Compass Point raised their price target on Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Maxim Group increased their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup upped their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Finally, DA Davidson downgraded Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and boosted their price target for the company from $138.00 to $143.00 in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $132.54.

Cullen/Frost Bankers 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.