Phillips Wealth Planners LLC Purchases Shares of 1,679 Cullen/Frost Bankers, Inc. (NYSE:CFR)

Phillips Wealth Planners LLC acquired a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,679 shares of the bank’s stock, valued at approximately $207,000.

A number of other institutional investors also recently modified their holdings of CFR. Asset Dedication LLC increased its holdings in Cullen/Frost Bankers by 63.3% during the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after purchasing an additional 105 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Cullen/Frost Bankers by 90.7% during the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after purchasing an additional 186 shares during the last quarter. Allworth Financial LP increased its stake in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after buying an additional 239 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Cullen/Frost Bankers in the second quarter valued at about $54,000. Finally, Eagle Bay Advisors LLC lifted its position in Cullen/Frost Bankers by 1,625.6% during the 2nd quarter. Eagle Bay Advisors LLC now owns 742 shares of the bank’s stock worth $75,000 after buying an additional 699 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Down 1.1 %

Shares of NYSE:CFR opened at $125.98 on Friday. The company has a 50 day moving average price of $115.61 and a two-hundred day moving average price of $109.00. The company has a market capitalization of $8.07 billion, a PE ratio of 15.63, a PEG ratio of 1.56 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 52 week low of $90.94 and a 52 week high of $135.00. 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 issued its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping the consensus estimate of $2.16 by $0.08. Cullen/Frost Bankers had a return on equity of 16.34% and a net margin of 23.98%. The business had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. During the same quarter last year, the business posted $2.38 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Analysts forecast that Cullen/Frost Bankers, Inc. will post 8.57 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Analyst Upgrades and Downgrades

CFR has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Friday. DA Davidson upped their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Truist Financial decreased their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Maxim Group raised their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday. Finally, Stephens lifted their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday. Four equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.31.

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.