Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Bought by Sunbelt Securities Inc.

Sunbelt Securities Inc. lifted its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 41.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,626 shares of the bank’s stock after buying an additional 477 shares during the period. Sunbelt Securities Inc.’s holdings in Cullen/Frost Bankers were worth $182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Advisors LLC boosted its position in shares of Cullen/Frost Bankers by 24.4% in the 1st quarter. Cetera Advisors LLC now owns 2,391 shares of the bank’s stock valued at $269,000 after purchasing an additional 469 shares during the period. SG Americas Securities LLC increased its holdings in shares of Cullen/Frost Bankers by 44.8% in the 2nd quarter. SG Americas Securities LLC now owns 4,720 shares of the bank’s stock valued at $480,000 after acquiring an additional 1,460 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in 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 purchasing an additional 137 shares during the period. Oak Harvest Investment Services grew its position in Cullen/Frost Bankers by 8.7% during the 2nd quarter. Oak Harvest Investment Services now owns 28,701 shares of the bank’s stock worth $2,917,000 after purchasing an additional 2,296 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Cullen/Frost Bankers in the second quarter valued at $217,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares in the company, valued at $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the executive vice president now directly owns 26,661 shares in the company, valued at approximately $3,367,550.91. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,864 shares of company stock valued at $2,977,033 over the last quarter. Corporate insiders own 2.89% of the company’s stock.

Analysts Set New Price Targets

CFR has been the topic of a number of research reports. Citigroup raised their price target on Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Stephens boosted their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Truist Financial dropped their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Keefe, Bruyette & Woods raised their target price on shares of Cullen/Frost Bankers from $120.00 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Maxim Group boosted their price target on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Four 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $127.07.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $137.80 on Friday. The business has a 50 day moving average price of $132.55 and a 200 day moving average price of $115.73. The company has a market capitalization of $8.84 billion, a P/E ratio of 17.10, a PEG ratio of 1.66 and a beta of 0.99. Cullen/Frost Bankers, Inc. has a 1-year low of $94.09 and a 1-year high of $147.64. 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 announced its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share 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 analysts’ expectations of $517.25 million. During the same quarter last year, the business posted $2.38 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

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.