AE Wealth Management LLC Buys 6,278 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

AE Wealth Management LLC increased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFRGet Rating) by 115.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,722 shares of the bank’s stock after purchasing an additional 6,278 shares during the quarter. AE Wealth Management LLC’s holdings in Cullen/Frost Bankers were worth $1,550,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Xponance Inc. increased its position in shares of Cullen/Frost Bankers by 9.6% during the 3rd quarter. Xponance Inc. now owns 7,453 shares of the bank’s stock valued at $985,000 after purchasing an additional 653 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Cullen/Frost Bankers by 11.8% during the 3rd quarter. State of Michigan Retirement System now owns 16,164 shares of the bank’s stock valued at $2,137,000 after purchasing an additional 1,700 shares during the last quarter. Cardinal Capital Management increased its position in shares of Cullen/Frost Bankers by 1.8% during the 3rd quarter. Cardinal Capital Management now owns 9,494 shares of the bank’s stock valued at $1,255,000 after purchasing an additional 168 shares during the last quarter. First National Bank of Hutchinson bought a new position in shares of Cullen/Frost Bankers during the 3rd quarter valued at approximately $203,000. Finally, State of Alaska Department of Revenue boosted its holdings in Cullen/Frost Bankers by 8.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,898 shares of the bank’s stock valued at $1,176,000 after acquiring an additional 700 shares during the period. Institutional investors own 81.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Bank of America upgraded Cullen/Frost Bankers from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Thursday, January 5th. Morgan Stanley started coverage on Cullen/Frost Bankers in a research note on Monday, December 5th. They set an “overweight” rating and a $178.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Cullen/Frost Bankers from $175.00 to $155.00 and set an “overweight” rating for the company in a research note on Tuesday, December 13th. Truist Financial reduced their target price on Cullen/Frost Bankers from $160.00 to $148.00 in a research report on Friday, December 9th. Finally, Stephens upped their target price on Cullen/Frost Bankers from $149.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, October 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $152.38.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,941 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $151.62, for a total transaction of $294,294.42. Following the transaction, the executive vice president now owns 24,589 shares in the company, valued at $3,728,184.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.76% of the stock is currently owned by company insiders.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $131.68 on Tuesday. The company has a market capitalization of $8.47 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.30 and a beta of 1.11. The business’s 50 day moving average is $140.40 and its two-hundred day moving average is $135.62. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.08. Cullen/Frost Bankers, Inc. has a 12-month low of $112.67 and a 12-month high of $160.60.

Cullen/Frost Bankers (NYSE:CFRGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The bank reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.40. The company had revenue of $479.34 million for the quarter, compared to the consensus estimate of $445.68 million. Cullen/Frost Bankers had a return on equity of 14.18% and a net margin of 30.07%. Analysts expect that Cullen/Frost Bankers, Inc. will post 8.69 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were given a dividend of $0.87 per share. The ex-dividend date was Tuesday, November 29th. This represents a $3.48 dividend on an annualized basis and a yield of 2.64%. Cullen/Frost Bankers’s dividend payout ratio is currently 46.71%.

About Cullen/Frost Bankers

(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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