Creative Planning Increases Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Creative Planning lifted its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 7.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,449 shares of the bank’s stock after acquiring an additional 585 shares during the quarter. Creative Planning’s holdings in Cullen/Frost Bankers were worth $859,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. CWM LLC increased its position in shares of Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after purchasing an additional 106 shares during the last quarter. Whittier Trust Co. grew its position in Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after buying an additional 186 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in Cullen/Frost Bankers during the second quarter worth about $54,000. GAMMA Investing LLC raised its position in Cullen/Frost Bankers by 40.7% in the first quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock worth $65,000 after acquiring an additional 166 shares during the period. Finally, North Star Investment Management Corp. purchased a new position in Cullen/Frost Bankers in the first quarter valued at about $69,000. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CFR shares. Truist Financial decreased their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Wedbush decreased their target price on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their price target on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley decreased their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Finally, Stephens upped their price objective on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $121.31.

Cullen/Frost Bankers Price Performance

CFR stock opened at $118.80 on Friday. The firm has a 50 day moving average of $110.20 and a 200-day moving average of $107.42. The firm has a market capitalization of $7.61 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $123.17. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, beating the consensus estimate of $2.07 by $0.14. The firm 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 last year, the firm earned $2.47 EPS. As a group, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.59 earnings per share 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. Shareholders of record on Friday, August 30th were paid a $0.95 dividend. This is a positive change 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 3.20%. The ex-dividend date was Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio is currently 46.34%.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction 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 approximately $190,481.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the sale, the executive vice president now owns 18,753 shares in the company, valued at $2,243,796.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

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.