Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Bought by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC increased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,224 shares of the bank’s stock after acquiring an additional 5,837 shares during the period. Cullen/Frost Bankers makes up about 2.2% of Glass Wealth Management Co LLC’s investment portfolio, making the stock its 15th biggest position. Glass Wealth Management Co LLC owned approximately 0.05% of Cullen/Frost Bankers worth $3,940,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Covestor Ltd raised its position in Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank’s stock worth $25,000 after acquiring an additional 141 shares during the last quarter. Asset Dedication LLC boosted its holdings in shares of 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 purchasing an additional 105 shares during the last quarter. Allworth Financial LP grew its position in shares of Cullen/Frost Bankers by 116.6% in the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after purchasing an additional 239 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Cullen/Frost Bankers in the third quarter valued at $52,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Cullen/Frost Bankers in the second quarter valued at $54,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the sale, the executive vice president now owns 2,888 shares in the company, valued at $399,525.92. This represents a 58.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 26,661 shares in the company, valued at $3,367,550.91. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Stephens boosted their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Maxim Group increased their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Morgan Stanley lowered 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. Compass Point lifted their price objective on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Wedbush cut their price target 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. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $123.86.

Cullen/Frost Bankers Stock Down 0.2 %

Shares of Cullen/Frost Bankers stock opened at $139.27 on Monday. 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, Inc. has a 12-month low of $94.09 and a 12-month high of $144.89. The firm has a market capitalization of $8.93 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98. The stock’s fifty day moving average is $120.88 and its 200-day moving average is $110.97.

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 analysts’ consensus estimates 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 quarter last year, the business posted $2.38 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate 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 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 of this dividend is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.73%. Cullen/Frost Bankers’s dividend payout ratio is 47.15%.

Cullen/Frost Bankers 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.