HighTower Advisors LLC Purchases 1,006 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

HighTower Advisors LLC boosted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,080 shares of the bank’s stock after purchasing an additional 1,006 shares during the period. HighTower Advisors LLC’s holdings in Cullen/Frost Bankers were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of CFR. Benjamin Edwards Inc. lifted its stake in shares of Cullen/Frost Bankers by 153.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,621 shares of the bank’s stock worth $517,000 after acquiring an additional 2,799 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Cullen/Frost Bankers during the third quarter worth $201,000. Captrust Financial Advisors boosted its stake in shares of Cullen/Frost Bankers by 3.2% during the third quarter. Captrust Financial Advisors now owns 17,522 shares of the bank’s stock valued at $1,960,000 after purchasing an additional 547 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cullen/Frost Bankers by 6.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,924 shares of the bank’s stock worth $1,222,000 after purchasing an additional 654 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Cullen/Frost Bankers in the 3rd quarter worth about $1,449,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

CFR has been the topic of a number of research analyst reports. 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 research note on Monday, September 30th. Wedbush dropped their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock 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. Compass Point increased their price target on Cullen/Frost Bankers from $122.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Maxim Group lifted their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $127.07.

Cullen/Frost Bankers Trading Up 0.2 %

NYSE CFR opened at $137.80 on Monday. Cullen/Frost Bankers, Inc. has a 52 week low of $94.09 and a 52 week high of $147.64. The company has a 50 day moving average price of $132.55 and a 200 day moving average price of $115.84. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a market cap of $8.84 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same quarter in the prior year, the business posted $2.38 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.75 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.95 per share. The ex-dividend date was Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.76%. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Activity

In related news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers 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 completion of the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at $3,367,550.91. The trade was a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the transaction, the executive vice president now owns 2,888 shares in the company, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,864 shares of company stock worth $2,977,033 over the last 90 days. 2.89% of the stock is currently owned by corporate 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.