Cullen/Frost Bankers, Inc. (NYSE:CFR) Holdings Raised by Champlain Investment Partners LLC

Champlain Investment Partners LLC increased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 7.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,414,061 shares of the bank’s stock after purchasing an additional 244,445 shares during the period. Cullen/Frost Bankers makes up approximately 2.3% of Champlain Investment Partners LLC’s investment portfolio, making the stock its largest position. Champlain Investment Partners LLC owned 5.32% of Cullen/Frost Bankers worth $381,897,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Keene & Associates Inc. lifted its position in shares of Cullen/Frost Bankers by 1.7% during the third quarter. Keene & Associates Inc. now owns 5,240 shares of the bank’s stock worth $586,000 after purchasing an additional 89 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 97 shares during the period. Asset Dedication LLC grew 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 acquiring an additional 105 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 106 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Cullen/Frost Bankers by 6.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,333 shares of the bank’s stock valued at $237,000 after acquiring an additional 137 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Stock Up 2.0 %

Shares of NYSE:CFR opened at $142.34 on Friday. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.69 and a beta of 0.98. The firm’s 50-day simple moving average is $123.41 and its 200-day simple moving average is $111.80. Cullen/Frost Bankers, Inc. has a fifty-two week low of $94.09 and a fifty-two week high of $144.89. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

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

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.67%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 47.15%.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the transaction, the chief executive officer now directly owns 94,423 shares in the company, valued at approximately $13,026,597.08. The trade was a 13.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bobby Berman sold 3,506 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 26,661 shares in the company, valued at $3,367,550.91. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,864 shares of company stock valued at $2,977,033. Company insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CFR shares. Truist Financial cut their price target 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. Wedbush reduced their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Royal Bank of Canada boosted their price target on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Evercore ISI reduced their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Maxim Group boosted their target price 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, November 1st. Four 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 MarketBeat, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average target price of $123.86.

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.