Cullen/Frost Bankers, Inc. (NYSE:CFR) Stake Reduced by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC reduced its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,727 shares of the bank’s stock after selling 2,309 shares during the quarter. WealthPlan Investment Management LLC owned about 0.09% of Cullen/Frost Bankers worth $6,122,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CFR. Covestor Ltd grew its stake in shares of Cullen/Frost Bankers by 169.9% in the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Asset Dedication LLC grew its holdings in Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after acquiring an additional 105 shares during the period. Allworth Financial LP grew its holdings 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 period. Capital Performance Advisors LLP acquired a new position in Cullen/Frost Bankers during the third quarter worth about $52,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the second quarter worth about $54,000. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CFR shares. Morgan Stanley decreased their price target on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, September 30th. Maxim Group boosted their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. DA Davidson boosted their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Stephens boosted their target price on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, Evercore ISI dropped their price objective on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Four research 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $123.86.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $143.13 on Tuesday. The stock has a 50 day moving average price of $118.52 and a 200 day moving average price of $110.01. Cullen/Frost Bankers, Inc. has a 52 week low of $91.61 and a 52 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 stock has a market capitalization of $9.18 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. During the same period in the prior year, the firm posted $2.38 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given 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 2.65%. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Activity

In other news, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 directly owns 26,661 shares of the company’s stock, valued at $3,367,550.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.89% of the company’s stock.

About Cullen/Frost Bankers

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.