Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,039 shares of the bank’s stock after selling 186 shares during the quarter. Truist Financial Corp’s holdings in Cullen/Frost Bankers were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CFR. Tidal Investments LLC increased its holdings in shares of Cullen/Frost Bankers by 125.2% during the first 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 in the last quarter. Oak Harvest Investment Services acquired a new position in Cullen/Frost Bankers during the 1st quarter valued at approximately $2,972,000. Goldman Sachs Group Inc. raised its holdings in shares of Cullen/Frost Bankers by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock worth $86,619,000 after buying an additional 244,197 shares during the last quarter. Natixis acquired a new stake in shares of Cullen/Frost Bankers during the first quarter worth $957,000. Finally, Norden Group LLC purchased a new stake in shares of Cullen/Frost Bankers during the first quarter valued at $1,062,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on CFR. Truist Financial reduced their target price 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. Citigroup decreased their target price on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. cut their price target on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Morgan Stanley decreased their price objective on shares of 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, Maxim Group increased their price objective on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus price target of $121.31.

Cullen/Frost Bankers Trading Up 2.6 %

Shares of Cullen/Frost Bankers stock opened at $118.80 on Friday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $82.25 and a fifty-two week high of $123.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $7.61 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00. The firm has a 50-day simple moving average of $110.20 and a two-hundred day simple moving average of $107.42.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. The company had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same quarter in the prior year, the business posted $2.47 earnings per share. As a group, equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.59 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.95 dividend. The ex-dividend date was Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a yield of 3.20%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 46.34%.

Insider Buying and Selling

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