Mercer Global Advisors Inc. ADV Sells 213 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Mercer Global Advisors Inc. ADV lessened its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,371 shares of the bank’s stock after selling 213 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Cullen/Frost Bankers were worth $241,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CFR. US Bancorp DE raised its holdings in Cullen/Frost Bankers by 57.2% in the 4th quarter. US Bancorp DE now owns 5,713 shares of the bank’s stock valued at $620,000 after buying an additional 2,078 shares during the last quarter. Hsbc Holdings PLC raised its holdings 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 during the last quarter. Parallel Advisors LLC raised its holdings in Cullen/Frost Bankers by 89.7% during the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock worth $50,000 after purchasing an additional 218 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Cullen/Frost Bankers by 304.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,986 shares of the bank’s stock worth $432,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Cullen/Frost Bankers by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 26,255 shares of the bank’s stock worth $2,848,000 after purchasing an additional 260 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at Cullen/Frost Bankers

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on CFR shares. Evercore ISI lowered their price target on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a report on Tuesday, June 25th. Wedbush reduced their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Royal Bank of Canada raised their price objective on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Truist Financial reduced their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Finally, Stephens raised their price objective on shares of 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. 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 company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $120.07.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $111.96 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $110.73 and a 200 day simple moving average of $107.03. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $123.17. The company has a market cap of $7.19 billion, a P/E ratio of 13.23, a PEG ratio of 1.36 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The business had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. During the same period last year, the business earned $2.47 EPS. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.95 per share. The ex-dividend date was Friday, August 30th. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.39%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 44.92%.

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.