Fifth Third Wealth Advisors LLC Makes New Investment in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Fifth Third Wealth Advisors LLC purchased a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,138 shares of the bank’s stock, valued at approximately $217,000.

A number of other hedge funds have also recently made changes to their positions in CFR. Allspring Global Investments Holdings LLC grew its position in Cullen/Frost Bankers by 18.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 981 shares of the bank’s stock worth $106,000 after buying an additional 154 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Cullen/Frost Bankers in the fourth quarter worth approximately $296,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cullen/Frost Bankers by 7.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,946 shares of the bank’s stock valued at $1,188,000 after purchasing an additional 733 shares in the last quarter. Federated Hermes Inc. lifted its position in Cullen/Frost Bankers by 13.9% during the fourth quarter. Federated Hermes Inc. now owns 7,777 shares of the bank’s stock valued at $844,000 after purchasing an additional 952 shares during the last quarter. Finally, Greenleaf Trust purchased a new position in Cullen/Frost Bankers in the 4th quarter worth approximately $231,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the transaction, the executive vice president now owns 18,753 shares in the company, valued at $2,243,796.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $112.00 to $121.00 in a report on Monday, August 5th. Truist Financial upped their price objective on Cullen/Frost Bankers from $102.00 to $126.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group decreased their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. DA Davidson boosted their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Wedbush increased their price target on shares of Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $119.93.

Cullen/Frost Bankers Stock Up 0.6 %

NYSE CFR opened at $109.16 on Friday. Cullen/Frost Bankers, Inc. has a 1 year low of $82.25 and a 1 year high of $123.17. The stock has a market capitalization of $7.01 billion, a PE ratio of 12.90, a PEG ratio of 1.34 and a beta of 1.03. 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 business’s 50-day moving average is $105.96 and its 200 day moving average is $106.31.

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, topping analysts’ consensus estimates of $2.07 by $0.14. The firm had revenue of $528.81 million for the quarter, compared to analyst estimates 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 period last year, the company earned $2.47 EPS. Sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.48%. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 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.