Whittier Trust Co. of Nevada Inc. Purchases 31,349 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Whittier Trust Co. of Nevada Inc. lifted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 71,247.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 31,393 shares of the bank’s stock after buying an additional 31,349 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Cullen/Frost Bankers were worth $3,512,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in Cullen/Frost Bankers by 7.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after purchasing an additional 97 shares during the last quarter. First National Bank of Hutchinson grew its position in Cullen/Frost Bankers by 1.6% during the first quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock valued at $713,000 after buying an additional 102 shares during the period. Asset Dedication LLC grew its position in Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after buying an additional 105 shares during the period. CWM LLC increased its holdings in Cullen/Frost Bankers by 46.5% during the first quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after buying an additional 106 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Cullen/Frost Bankers by 18.5% in the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after acquiring an additional 106 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CFR has been the subject of several analyst reports. Truist Financial reduced their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Stephens upped their price target on Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. DA Davidson raised their price objective 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. Morgan Stanley cut their price objective on 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. Finally, Wedbush decreased their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $121.31.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $120.51 on Tuesday. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.52 and a beta of 1.00. The firm has a fifty day moving average price of $112.20 and a 200 day moving average price of $107.86. Cullen/Frost Bankers, Inc. has a fifty-two week low of $82.25 and a fifty-two week high of $124.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, beating the consensus estimate of $2.07 by $0.14. The business had revenue of $528.81 million during the quarter, compared to the consensus estimate of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter in the prior year, the firm earned $2.47 EPS. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.59 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.95 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a yield of 3.15%. Cullen/Frost Bankers’s payout ratio is presently 44.92%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the transaction, the executive vice president now owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the sale, the executive vice president now directly owns 1,598 shares in the company, valued at $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

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.