Bradley Foster & Sargent Inc. CT Sells 2,150 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bradley Foster & Sargent Inc. CT lessened its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 29.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,222 shares of the bank’s stock after selling 2,150 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Cullen/Frost Bankers were worth $531,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CFR. ICA Group Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the 4th quarter worth approximately $33,000. CWM LLC raised its position in shares of Cullen/Frost Bankers by 46.5% during the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares during the period. Whittier Trust Co. lifted its holdings in shares of Cullen/Frost Bankers by 90.7% in the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after purchasing an additional 186 shares in the last quarter. Parallel Advisors LLC grew its position in Cullen/Frost Bankers by 89.7% in the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after purchasing an additional 218 shares during the period. Finally, GAMMA Investing LLC increased its stake in Cullen/Frost Bankers by 40.7% during the 1st quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock valued at $65,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Up 3.4 %

CFR opened at $115.58 on Friday. The company’s 50-day moving average price is $110.57 and its two-hundred day moving average price is $106.90. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a twelve month low of $82.25 and a twelve month high of $123.17. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.35 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. The business had revenue of $528.81 million during the quarter, compared to analyst estimates of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same period in the prior year, the company earned $2.47 earnings per share. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.95 dividend. This is a boost from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Friday, August 30th. Cullen/Frost Bankers’s payout ratio is currently 44.92%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Candace K. Wolfshohl sold 5,000 shares of Cullen/Frost Bankers stock in a transaction dated 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 owns 18,753 shares in the company, valued at $2,243,796.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the transaction, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Analyst Upgrades and Downgrades

CFR has been the subject of a number of analyst reports. Truist Financial lifted their price objective on shares of Cullen/Frost Bankers from $102.00 to $126.00 and gave the company a “hold” rating in a report on Monday, July 29th. Jefferies Financial Group cut their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Morgan Stanley downgraded Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $112.00 to $121.00 in a research note on Monday, August 5th. Maxim Group lifted their target price on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Wedbush increased their price target on Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $119.93.

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.