Allspring Global Investments Holdings LLC Has $40,000 Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Allspring Global Investments Holdings LLC reduced its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 75.7% during the 3rd quarter, Holdings Channel reports. The fund owned 358 shares of the bank’s stock after selling 1,115 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cullen/Frost Bankers were worth $40,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC raised its position in shares of Cullen/Frost Bankers by 125.2% during the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock valued at $1,338,000 after acquiring an additional 6,610 shares during the last quarter. Natixis acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter worth about $957,000. American Century Companies Inc. boosted its stake in shares of Cullen/Frost Bankers by 11.9% during the 2nd quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock worth $6,941,000 after buying an additional 7,236 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Cullen/Frost Bankers by 10.0% during the 3rd quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock worth $13,361,000 after buying an additional 10,884 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Cullen/Frost Bankers by 15.9% in the 1st quarter. Sei Investments Co. now owns 377,920 shares of the bank’s stock valued at $42,543,000 after purchasing an additional 51,808 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $127.64 on Wednesday. The firm has a market capitalization of $8.17 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.54 and a beta of 0.98. The company’s 50 day moving average price is $116.22 and its two-hundred day moving average price is $109.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. Cullen/Frost Bankers, Inc. has a fifty-two week low of $91.24 and a fifty-two week high of $135.00.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. Cullen/Frost Bankers’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.38 earnings per share. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.61 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CFR shares. Maxim Group raised their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Wedbush lowered their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Evercore ISI lowered their price target on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Stephens raised their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $123.86.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.00% of the stock is owned by insiders.

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.