Probity Advisors Inc. Sells 112 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Probity Advisors Inc. decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,405 shares of the bank’s stock after selling 112 shares during the period. Probity Advisors Inc.’s holdings in Cullen/Frost Bankers were worth $493,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CFR. Asset Dedication LLC boosted its position in shares of Cullen/Frost Bankers by 63.3% during 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 in the last quarter. Washington Capital Management Inc. bought a new position in Cullen/Frost Bankers during the third quarter worth about $548,000. Procyon Advisors LLC boosted its holdings in Cullen/Frost Bankers by 8.9% during the third quarter. Procyon Advisors LLC now owns 2,212 shares of the bank’s stock valued at $247,000 after purchasing an additional 180 shares in the last quarter. Juncture Wealth Strategies LLC grew its stake in shares of Cullen/Frost Bankers by 45.4% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,881 shares of the bank’s stock valued at $322,000 after purchasing an additional 900 shares during the period. Finally, CWM LLC raised its holdings in shares of Cullen/Frost Bankers by 767.4% in the 3rd quarter. CWM LLC now owns 3,383 shares of the bank’s stock worth $378,000 after buying an additional 2,993 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the transaction, the executive vice president now directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the sale, the executive vice president now directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Trading Up 1.8 %

Shares of CFR opened at $123.22 on Thursday. The stock’s fifty day simple moving average is $110.81 and its 200-day simple moving average is $107.51. The firm has a market capitalization of $7.92 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $124.91. 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 (NYSE:CFR) last issued its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.14. The company had revenue of $528.81 million for the quarter, compared to analyst estimates of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same quarter last year, the firm earned $2.47 EPS. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.59 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Friday, August 30th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s payout ratio is currently 44.92%.

Wall Street Analysts Forecast Growth

CFR has been the topic of several recent analyst reports. Evercore ISI decreased their price target on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Truist Financial lowered their target price on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Citigroup cut their price target on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on shares of Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, Royal Bank of Canada lifted their target price on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $121.31.

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.