Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,605 shares of the bank’s stock after selling 116 shares during the quarter. Pacer Advisors Inc.’s holdings in Cullen/Frost Bankers were worth $976,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wells Fargo & Company MN increased its stake in Cullen/Frost Bankers by 12.6% during the 4th quarter. Wells Fargo & Company MN now owns 129,721 shares of the bank’s stock worth $14,073,000 after buying an additional 14,553 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Cullen/Frost Bankers by 68.5% during the fourth quarter. Corient Private Wealth LLC now owns 16,723 shares of the bank’s stock worth $1,814,000 after purchasing an additional 6,796 shares in the last quarter. US Bancorp DE raised its stake in Cullen/Frost Bankers by 57.2% in the 4th quarter. US Bancorp DE now owns 5,713 shares of the bank’s stock valued at $620,000 after purchasing an additional 2,078 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Cullen/Frost Bankers by 6.6% in the 4th quarter. Hsbc Holdings PLC now owns 15,071 shares of the bank’s stock valued at $1,641,000 after purchasing an additional 930 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Cullen/Frost Bankers by 89.7% in the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CFR. Wedbush reduced their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday. Truist Financial decreased their target price 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. JPMorgan Chase & Co. dropped their price target on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Morgan Stanley downgraded 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 research report on Monday, August 5th. Finally, Royal Bank of Canada boosted their price objective on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $119.64.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s 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 sale, the executive vice president now owns 18,753 shares in the company, valued at approximately $2,243,796.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction on 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 directly owns 1,598 shares in the company, valued at $190,481.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the sale, the executive vice president now owns 18,753 shares in the company, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. 2.89% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $111.16 on Friday. The stock has a fifty day simple moving average of $110.78 and a 200-day simple moving average of $106.99. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The stock has a market cap of $7.14 billion, a PE ratio of 13.14, a P/E/G ratio of 1.37 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a twelve month low of $82.25 and a twelve month high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.14. The company had revenue of $528.81 million during the quarter, compared to analyst estimates 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 last year, the firm posted $2.47 earnings per share. Equities analysts anticipate 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 was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 44.92%.

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.