Pathstone Holdings LLC Purchases 5,981 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Pathstone Holdings LLC raised its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 45.0% during the 3rd quarter, Holdings Channel reports. The fund owned 19,273 shares of the bank’s stock after acquiring an additional 5,981 shares during the period. Pathstone Holdings LLC’s holdings in Cullen/Frost Bankers were worth $2,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Keene & Associates Inc. increased its holdings in shares of Cullen/Frost Bankers by 1.7% during the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after purchasing an additional 89 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Cullen/Frost Bankers by 7.0% during 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 period. Asset Dedication LLC increased its holdings in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after purchasing an additional 105 shares during the period. GAMMA Investing LLC increased its holdings in shares of Cullen/Frost Bankers by 18.5% during the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after purchasing an additional 106 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Cullen/Frost Bankers by 6.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock worth $237,000 after acquiring an additional 137 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CFR shares. Citigroup increased their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Compass Point increased their price target on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Stephens increased their price target on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Morgan Stanley reduced their price target on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Finally, Truist Financial cut their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $123.86.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction 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. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock valued at $2,977,033 over the last quarter. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $142.91 on Wednesday. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $147.64. The firm has a fifty day simple moving average of $124.74 and a 200 day simple moving average of $112.39. The company has a market capitalization of $9.17 billion, a PE ratio of 17.73, a P/E/G ratio of 1.72 and a beta of 0.98. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same quarter last year, the firm earned $2.38 earnings per share. Cullen/Frost Bankers’s quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

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 2.66%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

Cullen/Frost Bankers Company 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.