WCM Investment Management LLC Purchases 15,514 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

WCM Investment Management LLC lifted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFRFree Report) by 339.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,079 shares of the bank’s stock after buying an additional 15,514 shares during the quarter. WCM Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $2,233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in Cullen/Frost Bankers by 52.7% in the third quarter. Venturi Wealth Management LLC now owns 5,992 shares of the bank’s stock worth $670,000 after acquiring an additional 2,068 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Cullen/Frost Bankers in the 3rd quarter worth approximately $3,999,000. Crossmark Global Holdings Inc. boosted its stake in shares of Cullen/Frost Bankers by 40.2% during the third quarter. Crossmark Global Holdings Inc. now owns 5,095 shares of the bank’s stock valued at $570,000 after purchasing an additional 1,462 shares in the last quarter. Covestor Ltd boosted its stake in shares of Cullen/Frost Bankers by 169.9% during the third 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. Finally, Atria Investments Inc increased its holdings in Cullen/Frost Bankers by 5.2% during the third quarter. Atria Investments Inc now owns 17,064 shares of the bank’s stock valued at $1,909,000 after buying an additional 840 shares during the period. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFR has been the topic of several recent research reports. Stephens increased their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Maxim Group raised their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, November 1st. DA Davidson boosted their target price on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Morgan Stanley reduced their price objective on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. Finally, Wedbush decreased their price objective on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $123.86.

Check Out Our Latest Stock Report on CFR

Cullen/Frost Bankers Stock Performance

NYSE CFR opened at $143.13 on Tuesday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $91.61 and a fifty-two week high of $144.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $9.18 billion, a P/E ratio of 17.76, a PEG ratio of 1.68 and a beta of 0.98. The stock has a 50-day simple moving average of $118.52 and a two-hundred day simple moving average of $110.01.

Cullen/Frost Bankers (NYSE:CFRGet Free Report) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same period in the previous year, the firm earned $2.38 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given 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 is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the transaction, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.89% of the stock is owned by company insiders.

Cullen/Frost Bankers Company Profile

(Free Report)

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.

See Also

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

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