Cullen/Frost Bankers, Inc. $CFR Stake Lifted by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC increased its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 14.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,071 shares of the bank’s stock after buying an additional 7,911 shares during the quarter. WealthPlan Investment Management LLC owned about 0.10% of Cullen/Frost Bankers worth $8,107,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. grew its stake in Cullen/Frost Bankers by 94.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,653 shares of the bank’s stock worth $855,000 after buying an additional 3,227 shares during the last quarter. Vest Financial LLC grew its stake in Cullen/Frost Bankers by 22.5% during the 2nd quarter. Vest Financial LLC now owns 33,177 shares of the bank’s stock worth $4,265,000 after buying an additional 6,084 shares during the last quarter. M.E. Allison & CO. Inc. grew its stake in Cullen/Frost Bankers by 35.1% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 8,734 shares of the bank’s stock worth $1,123,000 after buying an additional 2,270 shares during the last quarter. CWM LLC grew its stake in Cullen/Frost Bankers by 4.1% during the 2nd quarter. CWM LLC now owns 4,928 shares of the bank’s stock worth $633,000 after buying an additional 192 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE grew its stake in Cullen/Frost Bankers by 0.8% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 53,970 shares of the bank’s stock worth $6,937,000 after buying an additional 440 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on CFR. TD Cowen upgraded Cullen/Frost Bankers to a “strong-buy” rating in a research note on Thursday, September 25th. Evercore ISI increased their price target on Cullen/Frost Bankers from $135.00 to $137.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cullen/Frost Bankers in a research note on Wednesday, October 8th. Morgan Stanley increased their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Finally, Barclays decreased their price target on Cullen/Frost Bankers from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $137.62.

Cullen/Frost Bankers Trading Down 1.7%

Shares of CFR stock opened at $126.81 on Thursday. The stock has a 50-day simple moving average of $127.14 and a 200 day simple moving average of $125.95. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $147.64. The stock has a market capitalization of $8.16 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.13 and a beta of 0.71. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a return on equity of 15.46% and a net margin of 21.20%.The business had revenue of $567.83 million during the quarter, compared to analysts’ expectations of $552.04 million. During the same quarter last year, the business posted $2.21 earnings per share. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 3.2%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 43.06%.

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.