Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Bought by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC grew its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 244.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,561 shares of the bank’s stock after acquiring an additional 3,948 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Cullen/Frost Bankers were worth $622,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CFR. Keene & Associates Inc. boosted its stake in Cullen/Frost Bankers by 1.7% during the 3rd quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after purchasing an additional 89 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Cullen/Frost Bankers by 7.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after buying an additional 97 shares during the last quarter. Asset Dedication LLC increased its position in Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares during the period. GAMMA Investing LLC raised its stake in Cullen/Frost Bankers by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock valued at $76,000 after acquiring an additional 106 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Cullen/Frost Bankers by 6.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock worth $237,000 after acquiring an additional 137 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Trading Up 2.0 %

Shares of Cullen/Frost Bankers stock opened at $142.32 on Friday. The firm has a market cap of $9.13 billion, a PE ratio of 17.66, a P/E/G ratio of 1.72 and a beta of 0.98. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $144.89. The business’s fifty day moving average is $124.07 and its two-hundred day moving average is $112.05.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. The company had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.38 EPS. Analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.67%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Insider Activity

In related news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $126.31, for a total transaction of $442,842.86. Following the completion of the sale, the executive vice president now owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the transaction, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,864 shares of company stock valued at $2,977,033 in the last ninety days. Company insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CFR. Maxim Group upped their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stephens raised their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Morgan Stanley lowered their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. Royal Bank of Canada increased their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Finally, Citigroup lifted their price objective on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.86.

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.