Crossmark Global Holdings Inc. Acquires 1,462 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Crossmark Global Holdings Inc. increased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 40.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,095 shares of the bank’s stock after acquiring an additional 1,462 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cullen/Frost Bankers were worth $570,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CFR. Tidal Investments LLC increased 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 purchasing an additional 6,610 shares during the last quarter. Natixis purchased a new position in Cullen/Frost Bankers in the first quarter valued at about $957,000. American Century Companies Inc. boosted its stake in Cullen/Frost Bankers by 11.9% in the second quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock valued at $6,941,000 after acquiring an additional 7,236 shares during the last quarter. Raymond James & Associates grew its position 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 valued at $13,361,000 after acquiring an additional 10,884 shares during the period. Finally, Strategic Financial Concepts LLC increased its stake in shares of Cullen/Frost Bankers by 7,109.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock worth $255,000 after purchasing an additional 247,416 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Down 0.2 %

Shares of NYSE:CFR opened at $139.27 on Friday. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.68 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $144.89. The firm has a fifty day moving average price of $120.88 and a two-hundred day moving average price of $110.88. 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 (NYSE:CFR) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.07. The company had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $2.38 earnings per share. Analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 47.15%.

Analysts Set New Price Targets

CFR has been the subject of several research reports. Royal Bank of Canada increased their price objective on 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 decreased their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Stephens boosted 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. Truist Financial cut their target price 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, Citigroup boosted their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus target price of $123.86.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the 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 transaction, the executive vice president now owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This represents a 11.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares of the company’s stock, valued at $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.89% of the stock is currently 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.