New England Research & Management Inc. Buys New Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

New England Research & Management Inc. purchased a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,525 shares of the bank’s stock, valued at approximately $954,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. CWM LLC grew its position in Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after buying an additional 106 shares in the last quarter. Whittier Trust Co. increased its stake in shares of Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after acquiring an additional 186 shares during the period. Abich Financial Wealth Management LLC bought a new stake in Cullen/Frost Bankers during the second quarter worth approximately $54,000. GAMMA Investing LLC raised its holdings in Cullen/Frost Bankers by 40.7% during the first quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock worth $65,000 after purchasing an additional 166 shares in the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in Cullen/Frost Bankers in the first quarter worth approximately $69,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity

In related news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 18,753 shares in the company, valued at approximately $2,243,796.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Howard L. Kasanoff sold 3,000 shares of the company’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 completion of the sale, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the executive vice president now directly owns 18,753 shares in the company, 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. 2.89% of the stock is owned by corporate insiders.

Cullen/Frost Bankers Stock Down 0.0 %

Shares of NYSE CFR traded down $0.01 during mid-day trading on Monday, reaching $113.31. The company had a trading volume of 406,376 shares, compared to its average volume of 441,795. The stock has a fifty day moving average of $110.07 and a two-hundred day moving average of $107.16. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $123.17. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 1.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, beating 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 period in the previous year, the company posted $2.47 EPS. As a group, equities research analysts expect that Cullen/Frost Bankers, Inc. will post 8.64 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.35%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 44.92%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CFR. Jefferies Financial Group dropped their price objective on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. dropped their price target on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Truist Financial reduced their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Morgan Stanley dropped their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada lifted their target price on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $121.14.

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.