Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Purchased by KBC Group NV

KBC Group NV boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 7.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,256 shares of the bank’s stock after acquiring an additional 285 shares during the period. KBC Group NV’s holdings in Cullen/Frost Bankers were worth $476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Covestor Ltd grew its position in shares of 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 grew 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 worth $30,000 after purchasing an additional 105 shares during the last quarter. Allworth Financial LP increased its stake 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 bought a new stake in shares of Cullen/Frost Bankers during the third quarter valued at approximately $52,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $54,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Price Performance

NYSE CFR opened at $137.83 on Wednesday. The stock has a market capitalization of $8.84 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.68 and a beta of 0.98. 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 business’s fifty day moving average is $122.10 and its two-hundred day moving average is $111.42. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $144.89.

Cullen/Frost Bankers (NYSE:CFR) last announced its 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. The business had revenue of $518.04 million during 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%. Cullen/Frost Bankers’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.38 earnings per share. On average, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced 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. This represents a $3.80 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 47.15%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Cullen/Frost Bankers from $118.00 to $130.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Maxim Group lifted their price objective on shares of Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Compass Point increased their target price on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Truist Financial dropped their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Finally, Stephens increased their price objective 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. Four equities research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.86.

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.