WealthPLAN Partners LLC Sells 798 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

WealthPLAN Partners LLC lessened its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 39,046 shares of the bank’s stock after selling 798 shares during the period. WealthPLAN Partners LLC’s holdings in Cullen/Frost Bankers were worth $4,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC increased its position in Cullen/Frost Bankers by 125.2% during the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock valued at $1,338,000 after purchasing an additional 6,610 shares during the period. Natixis bought a new position in Cullen/Frost Bankers in the first quarter worth approximately $957,000. American Century Companies Inc. raised its stake in Cullen/Frost Bankers by 11.9% in the second quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock worth $6,941,000 after buying an additional 7,236 shares in the last quarter. Raymond James & Associates lifted its holdings in Cullen/Frost Bankers by 10.0% during the third quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock worth $13,361,000 after buying an additional 10,884 shares during the period. Finally, Sei Investments Co. boosted its position in Cullen/Frost Bankers by 15.9% during the 1st quarter. Sei Investments Co. now owns 377,920 shares of the bank’s stock valued at $42,543,000 after acquiring an additional 51,808 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFR has been the topic of several analyst reports. Maxim Group lifted their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial cut their price objective on shares of 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. Wedbush decreased their target price on shares of 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. Evercore ISI cut their price target on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Finally, DA Davidson increased their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $123.86.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $143.13 on Tuesday. The business has a 50-day simple moving average of $118.52 and a 200-day simple moving average of $110.01. The company has a market cap of $9.18 billion, a PE ratio of 17.76, a P/E/G ratio of 1.68 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a one year low of $91.61 and a one year high of $144.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating 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 company had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. During the same period last year, the firm earned $2.38 earnings per share. Cullen/Frost Bankers’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast 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 issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is currently 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.