Legacy Financial Advisors Inc. Trims Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Legacy Financial Advisors Inc. decreased its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,972 shares of the bank’s stock after selling 311 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Cullen/Frost Bankers were worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new position in Cullen/Frost Bankers during the 4th quarter valued at about $33,000. CWM LLC increased its holdings in Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after acquiring an additional 106 shares during the period. Whittier Trust Co. lifted its stake in Cullen/Frost Bankers by 90.7% in the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after purchasing an additional 186 shares in the last quarter. Parallel Advisors LLC boosted 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 during the period. Finally, GAMMA Investing LLC grew its position in shares of Cullen/Frost Bankers by 40.7% during the 1st quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock valued at $65,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Activity

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $190,481.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Howard L. Kasanoff sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the sale, the executive vice president now directly owns 1,598 shares in the company, valued at approximately $190,481.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the business’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 owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CFR. Royal Bank of Canada upped their target price 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. JPMorgan Chase & Co. cut their price objective on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Truist Financial lowered their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a report on Friday. Evercore ISI reduced their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Maxim Group increased their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus target price of $119.71.

Cullen/Frost Bankers Price Performance

Shares of CFR opened at $114.25 on Friday. The company has a 50 day moving average of $110.78 and a two-hundred day moving average of $106.93. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a twelve month low of $82.25 and a twelve month high of $123.17. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last released 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. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The company had revenue of $528.81 million for the quarter, compared to the consensus estimate of $506.83 million. During the same quarter in the previous year, the firm earned $2.47 EPS. As a group, analysts predict that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.95 per share. The ex-dividend date was Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.33%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 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.