Creative Planning Has $893,000 Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Creative Planning reduced its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,986 shares of the bank’s stock after selling 463 shares during the period. Creative Planning’s holdings in Cullen/Frost Bankers were worth $893,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Procyon Advisors LLC boosted its position in shares of Cullen/Frost Bankers by 8.9% during the 3rd quarter. Procyon Advisors LLC now owns 2,212 shares of the bank’s stock valued at $247,000 after acquiring an additional 180 shares in the last quarter. Juncture Wealth Strategies LLC boosted its position in shares of Cullen/Frost Bankers by 45.4% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,881 shares of the bank’s stock valued at $322,000 after acquiring an additional 900 shares in the last quarter. CWM LLC boosted its position in shares of Cullen/Frost Bankers by 767.4% during the 3rd quarter. CWM LLC now owns 3,383 shares of the bank’s stock valued at $378,000 after acquiring an additional 2,993 shares in the last quarter. New England Research & Management Inc. acquired a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at about $954,000. Finally, Fulton Bank N.A. boosted its position in Cullen/Frost Bankers by 10.0% in the third quarter. Fulton Bank N.A. now owns 4,867 shares of the bank’s stock valued at $544,000 after buying an additional 443 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Trading Down 1.1 %

CFR opened at $125.97 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The firm has a 50 day simple moving average of $115.33 and a 200 day simple moving average of $108.87. Cullen/Frost Bankers, Inc. has a fifty-two week low of $90.94 and a fifty-two week high of $135.00.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate of $2.16 by $0.08. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The firm had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same quarter in the prior year, the firm earned $2.38 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.57 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is presently 46.34%.

Analyst Ratings Changes

CFR has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research report on Friday. Wedbush reduced their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Citigroup reduced their price target on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a research report on Monday, September 30th. Truist Financial reduced their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Finally, Morgan Stanley reduced their price target on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $123.31.

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.