WealthPLAN Partners LLC Has $4.37 Million Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

WealthPLAN Partners LLC reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,046 shares of the bank’s stock after selling 798 shares during the period. WealthPLAN Partners LLC owned about 0.06% of Cullen/Frost Bankers worth $4,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Covestor Ltd increased 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 valued at $25,000 after buying an additional 141 shares during the period. Asset Dedication LLC increased its position 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 acquiring an additional 105 shares during the period. Allworth Financial LP increased its position in Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after acquiring an additional 239 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Cullen/Frost Bankers during the third quarter valued at $52,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Cullen/Frost Bankers during the second quarter worth $54,000. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on CFR. Evercore ISI reduced their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a report on Wednesday, October 2nd. Maxim Group increased 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 report on Friday, November 1st. Compass Point boosted their target price on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Citigroup upped their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada lifted their price objective on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $123.86.

Cullen/Frost Bankers Stock Performance

Shares of NYSE CFR opened at $143.13 on Tuesday. The firm has a 50 day moving average of $118.52 and a 200 day moving average of $110.01. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 12-month low of $91.61 and a 12-month high of $144.89. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06.

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

Cullen/Frost Bankers Announces Dividend

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 annualized dividend and a dividend yield of 2.65%. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction on Friday, November 1st. The shares were 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.