Bartlett & CO. Wealth Management LLC Sells 4,018 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Bartlett & CO. Wealth Management LLC lessened its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 364,350 shares of the bank’s stock after selling 4,018 shares during the period. Bartlett & CO. Wealth Management LLC owned 0.57% of Cullen/Frost Bankers worth $40,756,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Cullen/Frost Bankers by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the bank’s stock worth $150,000 after acquiring an additional 97 shares in the last quarter. First National Bank of Hutchinson grew its stake in shares of Cullen/Frost Bankers by 1.6% in the 1st quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank’s stock worth $713,000 after buying an additional 102 shares during the last quarter. Asset Dedication LLC grew its stake in shares of Cullen/Frost Bankers by 63.3% in the 3rd quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock worth $30,000 after buying an additional 105 shares during the last quarter. CWM LLC grew its stake in shares of Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after buying an additional 106 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Cullen/Frost Bankers by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock valued at $76,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Insiders Place Their Bets

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the completion of the transaction, the executive vice president now owns 1,598 shares in the company, valued at approximately $190,481.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the sale, the executive vice president now owns 18,753 shares of the company’s stock, valued at $2,243,796.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the sale, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Cullen/Frost Bankers Trading Down 0.4 %

CFR opened at $123.60 on Friday. Cullen/Frost Bankers, Inc. has a 12 month low of $82.25 and a 12 month high of $124.91. 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 firm has a market cap of $7.94 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.47 and a beta of 1.00. The stock has a 50-day moving average of $111.90 and a 200 day moving average of $107.81.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 EPS for the quarter, beating the consensus estimate of $2.07 by $0.14. The company had revenue of $528.81 million for the quarter, compared to analyst estimates of $506.83 million. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. During the same period in the prior year, the company earned $2.47 earnings per share. As a group, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.59 EPS for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.95 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. Cullen/Frost Bankers’s dividend payout ratio is 44.92%.

Wall Street Analyst Weigh In

Several brokerages have commented on CFR. JPMorgan Chase & Co. cut their target price on Cullen/Frost Bankers from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Wedbush lowered their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Jefferies Financial Group lowered their price target on Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Maxim Group increased their price target on Cullen/Frost Bankers from $132.00 to $138.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Truist Financial decreased their target price on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $121.31.

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.