Pathstone Holdings LLC Has $2.16 Million Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Pathstone Holdings LLC boosted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 45.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,273 shares of the bank’s stock after acquiring an additional 5,981 shares during the quarter. Pathstone Holdings LLC’s holdings in Cullen/Frost Bankers were worth $2,156,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. LMR Partners LLP bought a new stake in shares of Cullen/Frost Bankers during the third quarter worth $402,000. Quest Partners LLC bought a new stake in shares of Cullen/Frost Bankers during the third quarter worth $369,000. Glass Wealth Management Co LLC grew its holdings in shares of Cullen/Frost Bankers by 19.9% during 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 during the last quarter. Sather Financial Group Inc bought a new stake in shares of Cullen/Frost Bankers during the third quarter worth $208,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Cullen/Frost Bankers during the third quarter worth $54,012,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Cullen/Frost Bankers Stock Down 0.7 %

Shares of Cullen/Frost Bankers stock opened at $142.91 on Wednesday. The firm has a market cap of $9.17 billion, a PE ratio of 17.73, a P/E/G ratio of 1.72 and a beta of 0.98. The business’s 50 day simple moving average is $124.74 and its 200 day simple moving average is $112.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a 52-week low of $94.09 and a 52-week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping the consensus estimate 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 business had revenue of $518.04 million during the quarter, compared to analysts’ expectations of $517.25 million. During the same quarter in the prior year, the company posted $2.38 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.95 per share. The ex-dividend date is Friday, November 29th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.66%. Cullen/Frost Bankers’s dividend payout ratio is 47.15%.

Analysts Set New Price Targets

Several analysts have recently commented on CFR shares. Truist Financial decreased their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. 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 report on Friday, November 1st. Morgan Stanley decreased their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. 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 report on Wednesday, October 2nd. Finally, Wedbush decreased their price target on 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $123.86.

Insider Transactions at Cullen/Frost Bankers

In other news, CEO Phillip D. Green sold 14,358 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the sale, the chief executive officer now directly owns 94,423 shares of the company’s stock, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the completion of the sale, the executive vice president now directly owns 2,888 shares in the company, valued at approximately $399,525.92. The trade was a 58.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,864 shares of company stock worth $2,977,033 in the last three months. Insiders own 2.89% of the company’s stock.

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.