Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 11.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,644 shares of the bank’s stock after acquiring an additional 1,086 shares during the period. Federated Hermes Inc.’s holdings in Cullen/Frost Bankers were worth $1,407,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CFR. Meeder Asset Management Inc. increased its position in shares of Cullen/Frost Bankers by 45.5% during the second quarter. Meeder Asset Management Inc. now owns 288 shares of the bank’s stock valued at $34,000 after acquiring an additional 90 shares during the last quarter. Covestor Ltd increased its position in shares of Cullen/Frost Bankers by 80.7% during the first quarter. Covestor Ltd now owns 309 shares of the bank’s stock valued at $43,000 after acquiring an additional 138 shares during the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of Cullen/Frost Bankers in the second quarter valued at approximately $51,000. Wipfli Financial Advisors LLC purchased a new position in shares of Cullen/Frost Bankers in the third quarter valued at approximately $61,000. Finally, Eagle Bay Advisors LLC boosted its stake in shares of Cullen/Frost Bankers by 175.5% in the second quarter. Eagle Bay Advisors LLC now owns 540 shares of the bank’s stock valued at $63,000 after purchasing an additional 344 shares during the period. 81.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on CFR shares. StockNews.com lowered shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Stephens lowered their target price on shares of Cullen/Frost Bankers from $154.00 to $140.00 and set an “equal weight” rating for the company in a research note on Friday, January 27th. Truist Financial lowered their target price on shares of Cullen/Frost Bankers from $148.00 to $136.00 and set a “hold” rating for the company in a research note on Wednesday, February 1st. Wedbush lowered their target price on shares of Cullen/Frost Bankers from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, January 27th. Finally, Morgan Stanley began coverage on shares of Cullen/Frost Bankers in a research note on Monday, December 5th. They set an “overweight” rating and a $178.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $148.54.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, insider Paul Bracher sold 5,848 shares of the company’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $130.97, for a total transaction of $765,912.56. Following the transaction, the insider now directly owns 92,834 shares in the company, valued at $12,158,468.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.76% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Trading Down 1.1 %

NYSE CFR opened at $118.75 on Friday. The stock has a market capitalization of $7.64 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.19 and a beta of 1.06. Cullen/Frost Bankers, Inc. has a 52-week low of $112.67 and a 52-week high of $160.60. The firm has a 50-day moving average price of $131.14 and a 200 day moving average price of $137.03. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.07.

Cullen/Frost Bankers (NYSE:CFR – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The bank reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.16. Cullen/Frost Bankers had a net margin of 30.80% and a return on equity of 18.55%. During the same quarter in the previous year, the company earned $1.54 earnings per share. Equities research analysts expect that Cullen/Frost Bankers, Inc. will post 10.5 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $3.48 annualized dividend and a yield of 2.93%. Cullen/Frost Bankers’s dividend payout ratio is currently 39.46%.

Cullen/Frost Bankers Profile

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Cullen/Frost Bankers, Inc is a financial holding company, which engages in the provision of commercial and consumer banking services. It operates through the Banking and Frost Wealth Advisors segments. The Banking segment operates commercial and consumer banking services. The Frost Wealth Advisors segment includes fee-based services within private trust, retirement services, and financial management services.