Keene & Associates Inc. Sells 1,005 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Keene & Associates Inc. lowered its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 16.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,151 shares of the bank’s stock after selling 1,005 shares during the period. Keene & Associates Inc.’s holdings in Cullen/Frost Bankers were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Cullen/Frost Bankers by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock valued at $150,000 after acquiring an additional 97 shares during the last quarter. First National Bank of Hutchinson grew its position in shares of Cullen/Frost Bankers by 1.6% during the first quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock valued at $713,000 after purchasing an additional 102 shares in the last quarter. CWM LLC increased its holdings in shares of Cullen/Frost Bankers by 46.5% in the first quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after purchasing an additional 106 shares during the last quarter. Commerce Bank lifted its position in shares of Cullen/Frost Bankers by 1.0% in the fourth quarter. Commerce Bank now owns 13,047 shares of the bank’s stock worth $1,415,000 after buying an additional 128 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Cullen/Frost Bankers by 6.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock valued at $237,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Cullen/Frost Bankers Price Performance

CFR opened at $109.41 on Monday. The business has a fifty day moving average of $109.57 and a 200 day moving average of $106.77. The stock has a market cap of $7.00 billion, a P/E ratio of 12.93, a PEG ratio of 1.29 and a beta of 1.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 52-week low of $82.25 and a 52-week high of $123.17.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.14. The business had revenue of $528.81 million during the quarter, compared to the consensus estimate of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same period last year, the company earned $2.47 earnings per share. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.95 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Friday, August 30th. Cullen/Frost Bankers’s dividend payout ratio is currently 44.92%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CFR shares. DA Davidson upped their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Truist Financial upped their price target on shares of Cullen/Frost Bankers from $102.00 to $126.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Jefferies Financial Group dropped their price objective on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Maxim Group upped their target price on shares of Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Morgan Stanley lowered Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $112.00 to $121.00 in a research report on Monday, August 5th. 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 an average price target of $119.93.

Insider Transactions at Cullen/Frost Bankers

In related news, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the transaction, the executive vice president now owns 18,753 shares in the company, valued at $2,243,796.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the sale, the executive vice president now owns 1,598 shares of the company’s stock, valued at $190,481.60. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

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.