Prospera Financial Services Inc Takes Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Prospera Financial Services Inc bought a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,789 shares of the bank’s stock, valued at approximately $200,000.

Several other large investors also recently modified their holdings of CFR. Pathstone Holdings LLC grew its stake in Cullen/Frost Bankers by 45.0% in the third quarter. Pathstone Holdings LLC now owns 19,273 shares of the bank’s stock worth $2,156,000 after purchasing an additional 5,981 shares in the last quarter. LMR Partners LLP acquired a new position in Cullen/Frost Bankers in the third quarter worth about $402,000. Quest Partners LLC acquired a new position in Cullen/Frost Bankers in the third quarter worth about $369,000. Glass Wealth Management Co LLC grew its stake in Cullen/Frost Bankers by 19.9% in the third quarter. Glass Wealth Management Co LLC now owns 35,224 shares of the bank’s stock worth $3,940,000 after purchasing an additional 5,837 shares in the last quarter. Finally, Sather Financial Group Inc acquired a new position in Cullen/Frost Bankers in the third quarter worth about $208,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Performance

CFR opened at $143.96 on Tuesday. The business’s 50 day moving average is $124.07 and its 200-day moving average is $112.13. The stock has a market cap of $9.23 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.72 and a beta of 0.98. 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, Inc. has a twelve month low of $94.09 and a twelve month high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $518.04 million for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $2.38 earnings per share. On average, analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 annualized dividend and a yield of 2.64%. Cullen/Frost Bankers’s payout ratio is 47.15%.

Analyst Upgrades and Downgrades

CFR has been the subject of a number of research reports. Compass Point lifted their price target on Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Maxim Group lifted their price target on Cullen/Frost Bankers from $138.00 to $149.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Truist Financial decreased their price target on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Stephens raised their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Wedbush cut their target price 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 assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cullen/Frost Bankers currently has an average rating of “Hold” and a consensus target price of $123.86.

Insider Buying and Selling

In related news, CEO Phillip D. Green sold 14,358 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the sale, the chief executive officer now owns 94,423 shares of the company’s stock, valued at $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction that occurred 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 owns 26,661 shares in the company, valued at approximately $3,367,550.91. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,864 shares of company stock valued at $2,977,033 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Cullen/Frost Bankers Company 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.