Benjamin F. Edwards & Company Inc. Increases Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Benjamin F. Edwards & Company Inc. boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 81.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,831 shares of the bank’s stock after acquiring an additional 824 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Cullen/Frost Bankers were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in shares of Cullen/Frost Bankers by 12.6% during the 4th quarter. Wells Fargo & Company MN now owns 129,721 shares of the bank’s stock worth $14,073,000 after purchasing an additional 14,553 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Cullen/Frost Bankers by 68.5% in the fourth quarter. Corient Private Wealth LLC now owns 16,723 shares of the bank’s stock worth $1,814,000 after acquiring an additional 6,796 shares during the last quarter. US Bancorp DE lifted its position in shares of Cullen/Frost Bankers by 57.2% in the fourth quarter. US Bancorp DE now owns 5,713 shares of the bank’s stock valued at $620,000 after acquiring an additional 2,078 shares in the last quarter. Hsbc Holdings PLC increased its position in Cullen/Frost Bankers by 6.6% during the 4th quarter. Hsbc Holdings PLC now owns 15,071 shares of the bank’s stock worth $1,641,000 after purchasing an additional 930 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Cullen/Frost Bankers by 89.7% in the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after purchasing an additional 218 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CFR has been the topic of several analyst reports. Truist Financial decreased their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. DA Davidson lifted their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Evercore ISI lowered their price objective on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research report on Tuesday, June 25th. Finally, Stephens upped their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Four investment 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $119.64.

Insiders Place Their Bets

In other news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares in the company, valued at approximately $2,243,796.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the sale, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. The disclosure for this sale can be found here. 2.89% of the stock is owned by company insiders.

Cullen/Frost Bankers Price Performance

CFR opened at $111.80 on Friday. Cullen/Frost Bankers, Inc. has a 52-week low of $82.25 and a 52-week high of $123.17. The company has a 50 day moving average of $110.83 and a two-hundred day moving average of $106.97. The company has a market cap of $7.18 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.37 and a beta of 1.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The firm had revenue of $528.81 million during the quarter, compared to analysts’ expectations of $506.83 million. During the same period in the prior year, the company earned $2.47 EPS. On average, analysts expect that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.95 per share. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 44.92%.

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.