Cerity Partners LLC Has $8.53 Million Stake in Cullen/Frost Bankers, Inc. $CFR

Cerity Partners LLC boosted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,336 shares of the bank’s stock after purchasing an additional 5,176 shares during the period. Cerity Partners LLC owned 0.10% of Cullen/Frost Bankers worth $8,527,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. M.E. Allison & CO. Inc. increased its holdings in Cullen/Frost Bankers by 35.1% in the second quarter. M.E. Allison & CO. Inc. now owns 8,734 shares of the bank’s stock valued at $1,123,000 after purchasing an additional 2,270 shares during the period. HB Wealth Management LLC grew its position in shares of Cullen/Frost Bankers by 18.9% in the 2nd quarter. HB Wealth Management LLC now owns 2,255 shares of the bank’s stock valued at $290,000 after buying an additional 358 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Cullen/Frost Bankers by 3,892.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 100,368 shares of the bank’s stock valued at $12,901,000 after buying an additional 97,854 shares during the period. Legal & General Group Plc raised its position in shares of Cullen/Frost Bankers by 3.4% during the second quarter. Legal & General Group Plc now owns 100,690 shares of the bank’s stock worth $12,943,000 after acquiring an additional 3,313 shares during the last quarter. Finally, Horizon Bancorp Inc. IN acquired a new position in shares of Cullen/Frost Bankers in the second quarter worth approximately $129,000. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CFR shares. Citigroup increased their target price on shares of Cullen/Frost Bankers from $112.00 to $114.00 and gave the company a “sell” rating in a research report on Friday, October 31st. Evercore ISI increased their price objective on shares of Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Morgan Stanley lifted their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Cantor Fitzgerald began coverage on shares of Cullen/Frost Bankers in a research report on Wednesday, September 10th. They set a “neutral” rating and a $138.00 price target on the stock. Finally, TD Cowen upgraded Cullen/Frost Bankers to a “strong-buy” rating in a report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and an average price target of $136.00.

Cullen/Frost Bankers Trading Up 0.2%

CFR opened at $130.20 on Friday. The company has a fifty day moving average price of $124.57 and a two-hundred day moving average price of $127.50. Cullen/Frost Bankers, Inc. has a 1-year low of $100.31 and a 1-year high of $146.44. The company has a market cap of $8.32 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 3.02 and a beta of 0.64. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 30th. The bank reported $2.67 EPS for the quarter, beating the consensus estimate of $2.38 by $0.29. Cullen/Frost Bankers had a return on equity of 15.84% and a net margin of 21.99%.The company had revenue of $567.27 million during the quarter, compared to the consensus estimate of $565.54 million. During the same period last year, the business posted $2.24 EPS. Analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, November 28th. This represents a $4.00 annualized dividend and a dividend yield of 3.1%. Cullen/Frost Bankers’s payout ratio is currently 41.15%.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Coolidge E. Rhodes, Jr. sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $127.00, for a total transaction of $88,900.00. Following the transaction, the executive vice president directly owned 3,795 shares of the company’s stock, valued at $481,965. This represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.89% of the stock is currently owned by corporate insiders.

Cullen/Frost Bankers Profile

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.