Cullen/Frost Bankers, Inc. $CFR Stock Sold by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC trimmed its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 18.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,478 shares of the bank’s stock after selling 4,024 shares during the period. WealthPlan Investment Management LLC’s holdings in Cullen/Frost Bankers were worth $2,668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CFR. BlackRock Inc. bought a new stake in shares of Cullen/Frost Bankers during the second quarter worth $1,133,453,000. State Street Corp lifted its holdings in Cullen/Frost Bankers by 3.8% during the 2nd quarter. State Street Corp now owns 3,218,249 shares of the bank’s stock valued at $497,292,000 after buying an additional 118,313 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Cullen/Frost Bankers by 22.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,777,658 shares of the bank’s stock valued at $429,204,000 after buying an additional 511,784 shares during the period. Dimensional Fund Advisors LP grew its stake in Cullen/Frost Bankers by 18.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after acquiring an additional 236,808 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Cullen/Frost Bankers by 11.8% in the first quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock valued at $165,966,000 after purchasing an additional 127,483 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CFR has been the topic of a number of recent research reports. Jefferies Financial Group raised Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and increased their price target for the stock from $135.00 to $160.00 in a research report on Monday, July 6th. Royal Bank Of Canada reduced their price target on shares of Cullen/Frost Bankers from $176.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, October 9th. Stephens boosted their price target on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Citigroup upped their price target on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. Finally, Cantor Fitzgerald dropped their target price on Cullen/Frost Bankers from $175.00 to $167.00 and set a “neutral” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $169.36.

Cullen/Frost Bankers Price Performance

Cullen/Frost Bankers stock traded up $2.31 during midday trading on Thursday, reaching $153.88. The company had a trading volume of 85,834 shares, compared to its average volume of 552,469. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.63 and a quick ratio of 0.63. Cullen/Frost Bankers, Inc. has a 12-month low of $119.00 and a 12-month high of $170.80. The company has a market capitalization of $9.56 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.76 and a beta of 0.56. The firm’s fifty day simple moving average is $160.14 and its 200-day simple moving average is $151.77.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, topping the consensus estimate of $2.55 by $0.15. The company had revenue of $576.01 million during the quarter, compared to analyst estimates of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%. During the same period in the previous year, the business earned $2.39 EPS. As a group, equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.94 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 31st. Cullen/Frost Bankers’s dividend payout ratio is currently 38.94%.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc is a financial holding company headquartered in San Antonio, Texas, and the parent company of Frost Bank. Through Frost, the company provides banking, investment, and financial services to individuals, businesses, and institutions.

Frost Bank offers personal and business deposit accounts, consumer and commercial lending, treasury management, payment services, and other banking products. Its wealth management operations provide trust, investment management, and financial planning services, while the company also offers services related to insurance and investment banking.

Founded in 1868 by Thomas Claiborne Frost, the company has a long history of serving Texas markets.