Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Acquired by WCM Investment Management LLC

WCM Investment Management LLC lifted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 339.8% during the third quarter, HoldingsChannel.com reports. The fund owned 20,079 shares of the bank’s stock after acquiring an additional 15,514 shares during the period. WCM Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $2,233,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Covestor Ltd boosted its stake in Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. Asset Dedication LLC lifted its stake in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after buying an additional 105 shares in the last quarter. Allworth Financial LP boosted its position in Cullen/Frost Bankers by 116.6% during the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after acquiring an additional 239 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Cullen/Frost Bankers during the 3rd quarter valued at about $52,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Cullen/Frost Bankers in the 2nd quarter valued at about $54,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CFR has been the topic of several recent research reports. Maxim Group boosted their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Compass Point upped their target price on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. DA Davidson lifted their price target on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Citigroup boosted their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Finally, Truist Financial cut their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $123.86.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now owns 26,661 shares in the company, valued at $3,367,550.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Stock Up 2.8 %

Shares of Cullen/Frost Bankers stock opened at $143.13 on Tuesday. The company has a market capitalization of $9.18 billion, a P/E ratio of 17.76, a P/E/G ratio of 1.68 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. The company has a 50 day moving average of $118.52 and a 200 day moving average of $110.01. Cullen/Frost Bankers, Inc. has a 52-week low of $91.61 and a 52-week high of $144.89.

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

Cullen/Frost Bankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is currently 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.