Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Bought by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC lifted its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 14.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 124,462 shares of the bank’s stock after acquiring an additional 15,300 shares during the period. Ceredex Value Advisors LLC’s holdings in Cullen/Frost Bankers were worth $13,922,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Asset Dedication LLC grew its holdings in 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 buying an additional 105 shares during the period. Whittier Trust Co. boosted its position in shares of Cullen/Frost Bankers by 90.7% in the first quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after acquiring an additional 186 shares during the last quarter. Allworth Financial LP grew its holdings in Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares during the period. Abich Financial Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the second quarter worth approximately $54,000. Finally, GAMMA Investing LLC raised its stake in Cullen/Frost Bankers by 18.5% during the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after purchasing an additional 106 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

Cullen/Frost Bankers stock opened at $125.98 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s fifty day moving average price is $115.61 and its 200 day moving average price is $109.00. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.56 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 12-month low of $90.94 and a 12-month high of $135.00.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping the consensus estimate of $2.16 by $0.08. Cullen/Frost Bankers had a return on equity of 16.34% and a net margin of 23.98%. The business had revenue of $518.04 million for the quarter, compared to analysts’ expectations of $517.25 million. During the same quarter in the previous year, the firm posted $2.38 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.57 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.02%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Analyst Ratings Changes

Several analysts have recently issued reports on CFR shares. Evercore ISI lowered their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, October 2nd. Truist Financial cut their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Morgan Stanley decreased their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a report on Monday, September 30th. DA Davidson raised their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Maxim Group boosted their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus target price of $123.31.

Cullen/Frost Bankers 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.