Fulton Bank N.A. Purchases 443 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Fulton Bank N.A. raised its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,867 shares of the bank’s stock after buying an additional 443 shares during the quarter. Fulton Bank N.A.’s holdings in Cullen/Frost Bankers were worth $544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Cullen/Frost Bankers by 7.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock valued at $150,000 after acquiring an additional 97 shares during the period. First National Bank of Hutchinson grew its stake in shares of Cullen/Frost Bankers by 1.6% in the 1st quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock valued at $713,000 after purchasing an additional 102 shares during the period. CWM LLC raised its holdings in shares of Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after buying an additional 106 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Cullen/Frost Bankers by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after buying an additional 106 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Cullen/Frost Bankers by 6.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock valued at $237,000 after buying an additional 137 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock opened at $113.43 on Wednesday. The business’s 50-day simple moving average is $109.95 and its 200 day simple moving average is $107.21. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.39 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.14. The company had revenue of $528.81 million for 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 earned $2.47 EPS. As a group, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.61 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.95 per share. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date was Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.35%. Cullen/Frost Bankers’s payout ratio is presently 44.92%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CFR. DA Davidson upped their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Citigroup decreased their price objective on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada lifted their target price on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Maxim Group increased their price target 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. Finally, Truist Financial dropped their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a report on Friday, September 20th. Four research 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $121.14.

Insider Activity

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 transaction of $357,600.00. Following the completion of the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 completion of the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.89% of the stock is currently owned by company insiders.

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.