Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 153.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,621 shares of the bank’s stock after purchasing an additional 2,799 shares during the quarter. Benjamin Edwards Inc.’s holdings in Cullen/Frost Bankers were worth $517,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Boston Trust Walden Corp purchased a new stake in Cullen/Frost Bankers during the third quarter valued at about $107,166,000. Vaughan Nelson Investment Management L.P. acquired a new position in Cullen/Frost Bankers in the 3rd quarter valued at approximately $54,012,000. Deprince Race & Zollo Inc. purchased a new stake in Cullen/Frost Bankers in the 2nd quarter worth approximately $37,813,000. The Manufacturers Life Insurance Company boosted its stake in shares of Cullen/Frost Bankers by 117.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank’s stock valued at $63,618,000 after buying an additional 307,129 shares during the period. Finally, Strategic Financial Concepts LLC boosted its position in Cullen/Frost Bankers by 7,109.7% during the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after purchasing an additional 247,416 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CFR shares. Evercore ISI reduced their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Compass Point upped their price target on Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Stephens raised their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Truist Financial dropped 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 report on Friday, September 20th. Four equities research 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, the company currently has a consensus rating of “Hold” and a consensus target price of $125.43.

Cullen/Frost Bankers Trading Up 0.0 %

Cullen/Frost Bankers stock opened at $138.26 on Monday. The business has a 50 day moving average price of $129.80 and a two-hundred day moving average price of $114.56. 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, Inc. has a 12 month low of $94.09 and a 12 month high of $147.64. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same period in the prior year, the company posted $2.38 earnings per share. Cullen/Frost Bankers’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.75%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 21,864 shares of company stock valued at $2,977,033 over the last quarter. 2.89% of the stock is owned by company insiders.

About Cullen/Frost Bankers

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.