Pathstone Family Office LLC Raises Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Pathstone Family Office LLC grew its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR – Get Rating) by 104.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,322 shares of the bank’s stock after buying an additional 2,722 shares during the period. Pathstone Family Office LLC’s holdings in Cullen/Frost Bankers were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arizona State Retirement System grew its stake in shares of Cullen/Frost Bankers by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 16,547 shares of the bank’s stock worth $2,188,000 after buying an additional 64 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Cullen/Frost Bankers by 0.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 14,966 shares of the bank’s stock worth $1,743,000 after acquiring an additional 76 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Cullen/Frost Bankers by 45.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 288 shares of the bank’s stock worth $34,000 after acquiring an additional 90 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Cullen/Frost Bankers by 3.3% in the 3rd quarter. Wedbush Securities Inc. now owns 2,815 shares of the bank’s stock worth $372,000 after acquiring an additional 90 shares during the last quarter. Finally, 1900 Wealth Management LLC lifted its holdings in shares of Cullen/Frost Bankers by 1.0% in the 3rd quarter. 1900 Wealth Management LLC now owns 9,797 shares of the bank’s stock worth $1,295,000 after acquiring an additional 100 shares during the last quarter. 81.93% of the stock is owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $103.75 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers, Inc. has a 12 month low of $103.01 and a 12 month high of $160.60. The company has a 50 day simple moving average of $130.54 and a two-hundred day simple moving average of $136.83. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.19 and a beta of 1.06.

Cullen/Frost Bankers (NYSE:CFR – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The bank reported $2.91 EPS for the quarter, beating 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 business posted $1.54 earnings per share. As a group, analysts predict that Cullen/Frost Bankers, Inc. will post 10.5 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, February 27th. Cullen/Frost Bankers’s dividend payout ratio is currently 39.46%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CFR. 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 report on Wednesday, February 1st. Raymond James lowered shares of Cullen/Frost Bankers from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 21st. JPMorgan Chase & Co. reduced their price target on shares of Cullen/Frost Bankers from $175.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, December 13th. Stephens reduced their price target on shares of Cullen/Frost Bankers from $154.00 to $140.00 and set an “equal weight” rating for the company in a report on Friday, January 27th. Finally, DA Davidson assumed coverage on shares of Cullen/Frost Bankers in a report on Tuesday, December 20th. They issued a “buy” rating and a $147.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $148.54.

Insider Activity at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 5,848 shares of the business’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $130.97, for a total value of $765,912.56. Following the completion of the transaction, the insider now directly owns 92,834 shares in the company, valued at approximately $12,158,468.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Chris Avery bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $108.08 per share, for a total transaction of $540,400.00. Following the purchase, the director now directly owns 13,000 shares in the company, valued at approximately $1,405,040. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Bracher sold 5,848 shares of the business’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $130.97, for a total transaction of $765,912.56. Following the completion of the transaction, the insider now owns 92,834 shares of the company’s stock, valued at $12,158,468.98. The disclosure for this sale can be found here. Company insiders own 3.76% of the company’s stock.

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.