Wealth Enhancement Advisory Services LLC Acquires 2,534 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Wealth Enhancement Advisory Services LLC raised its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 108.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,867 shares of the bank’s stock after buying an additional 2,534 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cullen/Frost Bankers were worth $544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CFR. Allspring Global Investments Holdings LLC lifted its stake in shares of Cullen/Frost Bankers by 40.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank’s stock worth $155,000 after buying an additional 395 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in 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 during the last quarter. Texas Permanent School Fund Corp boosted its holdings in Cullen/Frost Bankers by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 56,190 shares of the bank’s stock valued at $6,325,000 after acquiring an additional 887 shares during the period. Sei Investments Co. grew its position in shares of Cullen/Frost Bankers by 15.9% in the first quarter. Sei Investments Co. now owns 377,920 shares of the bank’s stock valued at $42,543,000 after purchasing an additional 51,808 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in shares of Cullen/Frost Bankers in the first quarter valued at about $228,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.89% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on CFR shares. Compass Point increased their target price on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research note on Tuesday. DA Davidson raised their price objective on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their target price on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Wedbush decreased their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, Morgan Stanley cut their price objective on shares of 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. 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’s stock. According to data from MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and a consensus price target of $123.86.

Cullen/Frost Bankers Stock Up 0.8 %

Shares of CFR opened at $139.16 on Friday. 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 company has a 50-day moving average price of $117.90 and a two-hundred day moving average price of $109.86. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.74 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 12 month low of $91.24 and a 12 month high of $144.19.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. During the same period in the prior year, the firm posted $2.38 EPS. Cullen/Frost Bankers’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.73%. Cullen/Frost Bankers’s dividend payout ratio is presently 47.15%.

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.