Wealth Enhancement Advisory Services LLC Acquires 2,534 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 108.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,867 shares of the bank’s stock after acquiring an additional 2,534 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cullen/Frost Bankers were worth $544,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in Cullen/Frost Bankers by 40.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock worth $155,000 after acquiring an additional 395 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Cullen/Frost Bankers by 35.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank’s stock worth $1,866,000 after purchasing an additional 4,317 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Cullen/Frost Bankers by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,190 shares of the bank’s stock worth $6,325,000 after purchasing an additional 887 shares during the last quarter. Sei Investments Co. grew its stake in shares of Cullen/Frost Bankers by 15.9% during the first quarter. Sei Investments Co. now owns 377,920 shares of the bank’s stock worth $42,543,000 after purchasing an additional 51,808 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in Cullen/Frost Bankers in the first quarter valued at about $228,000. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CFR shares. Truist Financial reduced their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Compass Point boosted their price objective on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday. Maxim Group upped their target price on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup lifted their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Finally, Stephens upped their price objective on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $123.86.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. This 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. Company insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $139.16 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The stock’s 50-day moving average is $117.90 and its 200-day moving average is $109.86. Cullen/Frost Bankers, Inc. has a one year low of $91.24 and a one year high of $144.19.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. During the same quarter in the previous year, the business posted $2.38 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

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.