Kestra Advisory Services LLC Has $1.83 Million Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Kestra Advisory Services LLC increased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFRGet Rating) by 444.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,829 shares of the bank’s stock after purchasing an additional 11,289 shares during the period. Kestra Advisory Services LLC’s holdings in Cullen/Frost Bankers were worth $1,828,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in shares of Cullen/Frost Bankers by 45.5% during the second quarter. Meeder Asset Management Inc. now owns 288 shares of the bank’s stock worth $34,000 after purchasing an additional 90 shares during the period. Covestor Ltd grew its stake in shares of Cullen/Frost Bankers by 80.7% during the first quarter. Covestor Ltd now owns 309 shares of the bank’s stock worth $43,000 after purchasing an additional 138 shares during the period. CWM LLC grew its stake in shares of Cullen/Frost Bankers by 638.5% during the second quarter. CWM LLC now owns 384 shares of the bank’s stock worth $45,000 after purchasing an additional 332 shares during the period. Atlas Capital Advisors LLC acquired a new stake in shares of Cullen/Frost Bankers during the second quarter worth $51,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of Cullen/Frost Bankers during the third quarter worth $61,000. 81.93% of the stock is owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

Shares of Cullen/Frost Bankers stock opened at $133.79 on Monday. Cullen/Frost Bankers, Inc. has a one year low of $112.67 and a one year high of $160.60. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. 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 stock’s 50-day moving average is $136.58 and its 200-day moving average is $136.64.

Cullen/Frost Bankers (NYSE:CFRGet Rating) last released its earnings results on Thursday, October 27th. The bank reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.40. Cullen/Frost Bankers had a return on equity of 14.18% and a net margin of 30.07%. The business had revenue of $479.34 million for the quarter, compared to analyst estimates of $445.68 million. Equities analysts predict that Cullen/Frost Bankers, Inc. will post 8.68 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were issued a dividend of $0.87 per share. The ex-dividend date was Tuesday, November 29th. This represents a $3.48 annualized dividend and a yield of 2.60%. Cullen/Frost Bankers’s payout ratio is presently 46.71%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CFR shares. 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. Royal Bank of Canada boosted their target price on Cullen/Frost Bankers from $148.00 to $160.00 and gave the company a “sector perform” rating in a research note on Friday, October 28th. Raymond James boosted their target price on Cullen/Frost Bankers from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, October 28th. Truist Financial decreased their target price on Cullen/Frost Bankers from $160.00 to $148.00 in a research note on Friday, December 9th. Finally, JPMorgan Chase & Co. decreased their target price 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus target price of $152.38.

Insider Buying and Selling

In related news, EVP Bobby Berman sold 1,941 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $151.62, for a total transaction of $294,294.42. Following the sale, the executive vice president now owns 24,589 shares in the company, valued at $3,728,184.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.76% of the stock is currently owned by corporate insiders.

Cullen/Frost Bankers Company Profile

(Get Rating)

Cullen/Frost Bankers, Inc operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services. It operates through the following segments: Banking and Frost Wealth Advisors. The Banking operating segment includes both commercial and consumer banking services and Frost Insurance Agency.

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

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