Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Acquired by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC boosted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,462 shares of the bank’s stock after purchasing an additional 15,300 shares during the quarter. Ceredex Value Advisors LLC owned about 0.19% of Cullen/Frost Bankers worth $13,922,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CFR. Asset Dedication LLC raised its holdings in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after buying an additional 105 shares during the last quarter. Whittier Trust Co. raised its stake in Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after acquiring an additional 186 shares during the last quarter. Allworth Financial LP raised its stake in Cullen/Frost Bankers by 116.6% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after acquiring an additional 239 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Cullen/Frost Bankers during the 2nd quarter worth approximately $54,000. Finally, Eagle Bay Advisors LLC grew its stake in shares of Cullen/Frost Bankers by 1,625.6% in the 2nd quarter. Eagle Bay Advisors LLC now owns 742 shares of the bank’s stock valued at $75,000 after purchasing an additional 699 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stephens increased their price target on Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an “equal weight” rating in a report on Friday. Morgan Stanley lowered their target price on shares of Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, September 30th. Wedbush dropped their price target on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Maxim Group lifted their price objective on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday. Finally, Truist Financial cut their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and an average price target of $123.31.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $125.98 on Friday. Cullen/Frost Bankers, Inc. has a 12-month low of $90.94 and a 12-month high of $135.00. The stock has a market cap of $8.07 billion, a P/E ratio of 15.63, a PEG ratio of 1.56 and a beta of 0.98. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $115.61 and a two-hundred day moving average of $109.00.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.08. The firm had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a return on equity of 16.34% and a net margin of 23.98%. Cullen/Frost Bankers’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 EPS. As a group, research analysts predict that Cullen/Frost Bankers, Inc. will post 8.57 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is 47.15%.

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.