Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 2.3% in the third quarter, Holdings Channel reports. The institutional investor owned 35,590 shares of the bank’s stock after acquiring an additional 800 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cullen/Frost Bankers were worth $3,981,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CFR. Asset Dedication LLC boosted its stake in 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 buying an additional 105 shares during the period. Whittier Trust Co. boosted its position in shares of Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after purchasing an additional 186 shares during the period. Allworth Financial LP increased its holdings 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 purchasing an additional 239 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Cullen/Frost Bankers in the second quarter valued at approximately $54,000. Finally, GAMMA Investing LLC lifted its stake in 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 purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CFR shares. Morgan Stanley dropped their price objective on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. 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 report on Friday. Maxim Group increased their price target 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. Stephens lifted 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. Finally, Citigroup reduced their target price on shares of Cullen/Frost Bankers from $107.00 to $104.00 and set a “sell” rating on the stock in a report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and an average price target of $123.31.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $125.97 on Friday. The company has a market cap of $8.06 billion, a P/E ratio of 15.36, a PEG ratio of 1.60 and a beta of 1.00. The firm has a fifty day moving average price of $115.33 and a 200 day moving average price of $108.87. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 12 month low of $90.94 and a 12 month high of $135.00.

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 $2.16 by $0.08. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. The business had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. During the same period in the prior year, the firm posted $2.38 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.57 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 3.02%. Cullen/Frost Bankers’s dividend payout ratio is currently 46.34%.

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.