2,000 Shares in Cullen/Frost Bankers, Inc. (NYSE:CFR) Bought by Elk River Wealth Management LLC

Elk River Wealth Management LLC purchased a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,000 shares of the bank’s stock, valued at approximately $217,000.

Several other large investors have also added to or reduced their stakes in the company. Tributary Capital Management LLC lifted its holdings in shares of Cullen/Frost Bankers by 2.0% in the 4th quarter. Tributary Capital Management LLC now owns 7,395 shares of the bank’s stock valued at $802,000 after buying an additional 147 shares during the period. Pacer Advisors Inc. raised its holdings in Cullen/Frost Bankers by 79.5% in the 4th quarter. Pacer Advisors Inc. now owns 9,623 shares of the bank’s stock worth $1,044,000 after purchasing an additional 4,263 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Cullen/Frost Bankers by 53.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,420 shares of the bank’s stock worth $1,131,000 after purchasing an additional 3,609 shares during the period. Helen Stephens Group LLC raised its holdings in Cullen/Frost Bankers by 30.4% in the 4th quarter. Helen Stephens Group LLC now owns 8,584 shares of the bank’s stock worth $931,000 after purchasing an additional 2,000 shares during the period. Finally, Burns Matteson Capital Management LLC acquired a new position in Cullen/Frost Bankers in the 4th quarter worth about $743,000. 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 issued reports on the company. Evercore ISI lowered Cullen/Frost Bankers from an “in-line” rating to an “underperform” rating and upped their price target for the company from $98.00 to $111.00 in a research report on Wednesday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $118.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, January 26th. Stephens increased their price target on Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Compass Point lowered Cullen/Frost Bankers from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of Cullen/Frost Bankers in a research report on Friday, January 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.77.

Cullen/Frost Bankers Stock Performance

CFR stock traded up $3.08 during trading on Wednesday, reaching $109.92. 138,036 shares of the stock were exchanged, compared to its average volume of 427,461. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $106.85 and a 200-day simple moving average of $100.93. The company has a market capitalization of $7.06 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. Cullen/Frost Bankers, Inc. has a twelve month low of $82.25 and a twelve month high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.17. The firm had revenue of $523.66 million during the quarter, compared to analysts’ expectations of $498.09 million. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. As a group, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.47 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.35%. Cullen/Frost Bankers’s dividend payout ratio is 40.44%.

Insider Activity

In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $10,543,972. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Paul Bracher sold 9,820 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $10,543,972. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bobby Berman sold 1,312 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the sale, the executive vice president now owns 27,815 shares in the company, valued at approximately $2,934,204.35. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

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.