JPMorgan Chase & Co. Purchases 3,383 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

JPMorgan Chase & Co. lifted its position in Cullen/Frost Bankers, Inc. (NYSE:CFRGet Rating) by 0.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 713,376 shares of the bank’s stock after purchasing an additional 3,383 shares during the period. JPMorgan Chase & Co.’s holdings in Cullen/Frost Bankers were worth $83,073,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in Cullen/Frost Bankers in the first quarter valued at $27,000. Covestor Ltd boosted its holdings in Cullen/Frost Bankers by 80.7% in the first quarter. Covestor Ltd now owns 309 shares of the bank’s stock valued at $43,000 after acquiring an additional 138 shares in the last quarter. CWM LLC boosted its holdings in Cullen/Frost Bankers by 638.5% in the second quarter. CWM LLC now owns 384 shares of the bank’s stock valued at $45,000 after acquiring an additional 332 shares in the last quarter. Tcwp LLC bought a new stake in Cullen/Frost Bankers in the first quarter valued at $46,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in Cullen/Frost Bankers in the first quarter valued at $107,000. Institutional investors own 78.85% of the company’s stock.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,941 shares of Cullen/Frost Bankers stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $151.62, for a total value of $294,294.42. Following the completion of the transaction, the executive vice president now owns 24,589 shares of the company’s stock, valued at approximately $3,728,184.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.76% of the stock is owned by insiders.

Cullen/Frost Bankers Price Performance

CFR opened at $146.06 on Thursday. The stock has a 50-day moving average price of $144.29 and a 200-day moving average price of $132.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $9.39 billion, a PE ratio of 19.61, a P/E/G ratio of 1.81 and a beta of 1.14. Cullen/Frost Bankers, Inc. has a 1 year low of $112.67 and a 1 year high of $160.60.

Cullen/Frost Bankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Tuesday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 46.71%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CFR. StockNews.com upgraded shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Friday, October 28th. Truist Financial lifted their price target on shares of Cullen/Frost Bankers from $150.00 to $160.00 in a report on Monday, October 31st. Wedbush restated a “neutral” rating and set a $140.00 target price on shares of Cullen/Frost Bankers in a report on Wednesday, September 28th. Raymond James boosted their target price on shares of Cullen/Frost Bankers from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, October 28th. Finally, Compass Point upgraded shares of Cullen/Frost Bankers from a “neutral” rating to a “buy” rating and set a $152.00 target price on the stock in a report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $147.08.

Cullen/Frost Bankers Company Profile

(Get Rating)

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.

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Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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