Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 75.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 358 shares of the bank’s stock after selling 1,115 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cullen/Frost Bankers were worth $40,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in shares of Cullen/Frost Bankers by 35.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank’s stock worth $1,866,000 after acquiring an additional 4,317 shares in the last quarter. Capstone Investment Advisors LLC boosted its stake in shares of Cullen/Frost Bankers by 68.8% during the 1st quarter. Capstone Investment Advisors LLC now owns 3,993 shares of the bank’s stock worth $449,000 after acquiring an additional 1,628 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after acquiring an additional 186 shares in the last quarter. Avidian Wealth Solutions LLC bought a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth $254,000. Finally, Texas Permanent School Fund Corp boosted its stake in shares of Cullen/Frost Bankers by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,190 shares of the bank’s stock worth $6,325,000 after acquiring an additional 887 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the firm’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 transaction, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.00% of the company’s stock.

Cullen/Frost Bankers Price Performance

CFR opened at $127.64 on Wednesday. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.54 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 1 year low of $91.24 and a 1 year high of $135.00. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $116.22 and a 200 day moving average price of $109.24.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.38 earnings per share. Analysts forecast that Cullen/Frost Bankers, Inc. will post 8.61 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.98%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

Analyst Ratings Changes

Several research firms have recently weighed in on CFR. Wedbush reduced their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Truist Financial decreased their target price on 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 decreased their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. DA Davidson raised their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Maxim Group raised their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” 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 given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.86.

Cullen/Frost Bankers Company 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.