Procyon Advisors LLC Acquires 180 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Procyon Advisors LLC raised its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,212 shares of the bank’s stock after acquiring an additional 180 shares during the period. Procyon Advisors LLC’s holdings in Cullen/Frost Bankers were worth $247,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Cullen/Frost Bankers by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,412,843 shares of the bank’s stock worth $695,729,000 after purchasing an additional 19,755 shares during the last quarter. Quadrature Capital Ltd grew its holdings in shares of Cullen/Frost Bankers by 32.7% in the fourth quarter. Quadrature Capital Ltd now owns 12,855 shares of the bank’s stock worth $1,395,000 after acquiring an additional 3,168 shares during the period. Moody National Bank Trust Division increased its position in Cullen/Frost Bankers by 74.8% during the first quarter. Moody National Bank Trust Division now owns 4,721 shares of the bank’s stock valued at $531,000 after acquiring an additional 2,020 shares during the last quarter. CWM LLC lifted its holdings in Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after acquiring an additional 106 shares during the period. Finally, GAMMA Investing LLC boosted its position in Cullen/Frost Bankers by 40.7% in the first quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock worth $65,000 after purchasing an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CFR. Evercore ISI lowered their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Stephens lifted their price target on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Jefferies Financial Group reduced their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. cut their price target on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, Citigroup decreased their price objective on Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.31.

Cullen/Frost Bankers Trading Up 1.8 %

Cullen/Frost Bankers stock opened at $123.22 on Thursday. Cullen/Frost Bankers, Inc. has a 1 year low of $82.25 and a 1 year high of $124.91. The firm’s 50 day moving average price is $110.81 and its 200-day moving average price is $107.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $7.92 billion, a P/E ratio of 14.57, a PEG ratio of 1.47 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, topping the consensus estimate of $2.07 by $0.14. The business had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter in the previous year, the company earned $2.47 EPS. On average, 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 company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, August 30th. 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 44.92%.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Company 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.