Avidian Wealth Solutions LLC Acquires Shares of 1,770 Cullen/Frost Bankers, Inc. (NYSE:CFR)

Avidian Wealth Solutions LLC acquired a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,770 shares of the bank’s stock, valued at approximately $210,000.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC increased its position in Cullen/Frost Bankers by 0.6% during the 2nd quarter. FMR LLC now owns 2,504,261 shares of the bank’s stock valued at $280,477,000 after purchasing an additional 14,499 shares during the period. Invesco Ltd. grew its position in shares of Cullen/Frost Bankers by 3.0% in the 2nd quarter. Invesco Ltd. now owns 2,424,549 shares of the bank’s stock worth $271,549,000 after buying an additional 71,745 shares during the period. Bank of America Corp DE grew its position in shares of Cullen/Frost Bankers by 14.4% in the 2nd quarter. Bank of America Corp DE now owns 913,531 shares of the bank’s stock worth $102,316,000 after buying an additional 115,206 shares during the period. Sprucegrove Investment Management Ltd. grew its position in shares of Cullen/Frost Bankers by 6.2% in the 3rd quarter. Sprucegrove Investment Management Ltd. now owns 864,507 shares of the bank’s stock worth $102,548,000 after buying an additional 50,400 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Cullen/Frost Bankers by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 690,063 shares of the bank’s stock worth $77,287,000 after buying an additional 14,980 shares during the period. 82.51% of the stock is currently owned by institutional investors and hedge funds.

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $134.37, for a total transaction of $1,007,775.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Phillip D. Green sold 77,575 shares of the firm’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $136.66, for a total transaction of $10,601,399.50. The disclosure for this sale can be found here. Insiders sold a total of 129,455 shares of company stock worth $17,551,157 in the last quarter. Company insiders own 4.50% of the company’s stock.

A number of analysts have recently weighed in on the stock. Truist Securities upped their target price on shares of Cullen/Frost Bankers from $117.00 to $130.00 and gave the stock a “hold” rating in a research report on Friday, October 1st. Stephens upped their target price on shares of Cullen/Frost Bankers from $120.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Friday, October 29th. Royal Bank of Canada increased their price objective on shares of Cullen/Frost Bankers from $126.00 to $135.00 and gave the company a “sector perform” rating in a research report on Friday, October 29th. Truist increased their price objective on shares of Cullen/Frost Bankers from $117.00 to $130.00 and gave the company a “hold” rating in a research report on Friday, October 1st. They noted that the move was a valuation call. Finally, Wedbush increased their price objective on shares of Cullen/Frost Bankers from $113.00 to $119.00 and gave the company an “underperform” rating in a research report on Monday, November 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average price target of $128.50.

CFR opened at $143.06 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $9.12 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.59 and a beta of 1.41. The company’s 50-day simple moving average is $130.89 and its two-hundred day simple moving average is $121.01. Cullen/Frost Bankers, Inc. has a 52-week low of $91.23 and a 52-week high of $143.94.

Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Wednesday, October 27th. The bank reported $1.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.13. Cullen/Frost Bankers had a net margin of 31.19% and a return on equity of 10.29%. The firm had revenue of $246.12 million for the quarter, compared to analysts’ expectations of $351.11 million. During the same quarter in the prior year, the business earned $1.50 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. Research analysts forecast that Cullen/Frost Bankers, Inc. will post 6.58 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Tuesday, November 30th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Monday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 45.45%.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services, as well as trust and investment management, mutual funds, investment banking, insurance, brokerage, leasing, asset-based lending, treasury management and item processing services.

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Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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