WealthPlan Investment Management LLC Sells 2,309 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

WealthPlan Investment Management LLC lessened its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,727 shares of the bank’s stock after selling 2,309 shares during the period. WealthPlan Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $6,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CFR. Covestor Ltd boosted its holdings in shares of Cullen/Frost Bankers by 169.9% in the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. Asset Dedication LLC boosted its holdings in shares of 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 purchasing an additional 105 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Cullen/Frost Bankers in the 3rd quarter valued at $52,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Cullen/Frost Bankers in the 2nd quarter valued at $54,000. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the firm’s 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 transaction, the executive vice president now owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.89% of the company’s stock.

Analyst Upgrades and Downgrades

CFR has been the topic of a number of research analyst reports. Citigroup raised their target price on Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday, November 4th. DA Davidson raised their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 26th. Wedbush cut their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Stephens raised their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, Evercore ISI cut their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $123.86.

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $143.13 on Tuesday. The company has a 50-day simple moving average of $118.52 and a two-hundred day simple moving average of $110.01. 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 12-month low of $91.61 and a 12-month high of $144.89. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.68 and a beta of 0.98.

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

Cullen/Frost Bankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is 47.15%.

Cullen/Frost Bankers Company 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.