Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 15.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,775 shares of the bank’s stock after selling 1,575 shares during the period. Inspire Investing LLC’s holdings in Cullen/Frost Bankers were worth $892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFR. Norges Bank acquired a new position in Cullen/Frost Bankers in the 4th quarter valued at $72,627,000. Champlain Investment Partners LLC boosted its stake in Cullen/Frost Bankers by 18.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank’s stock worth $359,378,000 after buying an additional 495,215 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Cullen/Frost Bankers by 7,109.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after buying an additional 247,416 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Cullen/Frost Bankers by 44.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 798,403 shares of the bank’s stock valued at $86,619,000 after acquiring an additional 244,197 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Cullen/Frost Bankers by 18.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank’s stock worth $114,994,000 after acquiring an additional 161,580 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction that occurred 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 sale, the executive vice president now directly owns 1,598 shares in the company, valued at approximately $190,481.60. The transaction was disclosed in a document filed 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 company’s 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 sale, the executive vice president now owns 18,753 shares in the company, valued at approximately $2,243,796.45. The sale 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 dated 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 sale, the executive vice president now directly 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.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $114.25 on Friday. The firm has a market capitalization of $7.31 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a one year low of $82.25 and a one year high of $123.17. The stock’s 50 day moving average price is $110.78 and its 200 day moving average price is $106.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results 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 the consensus estimate 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 period in the prior year, the firm earned $2.47 earnings per share. As a group, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 3.33%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 44.92%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CFR. Maxim Group boosted their target price on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 26th. Truist Financial dropped their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a report on Friday. Stephens lifted their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price target on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Finally, Wedbush lifted their price objective on Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Four equities research 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 currently has an average rating of “Hold” and an average target price of $119.71.

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.