CIBC Private Wealth Group LLC Decreases Position in Cullen/Frost Bankers, Inc. $CFR

CIBC Private Wealth Group LLC cut its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 60.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,131 shares of the bank’s stock after selling 53,843 shares during the period. CIBC Private Wealth Group LLC’s holdings in Cullen/Frost Bankers were worth $4,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Private Advisor Group LLC increased its holdings in shares of Cullen/Frost Bankers by 2.9% in the third quarter. Private Advisor Group LLC now owns 3,283 shares of the bank’s stock worth $416,000 after buying an additional 94 shares during the period. Wedmont Private Capital lifted its stake in shares of Cullen/Frost Bankers by 6.2% in the 3rd quarter. Wedmont Private Capital now owns 1,687 shares of the bank’s stock valued at $215,000 after acquiring an additional 99 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Cullen/Frost Bankers by 40.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 366 shares of the bank’s stock valued at $46,000 after acquiring an additional 106 shares during the period. US Bancorp DE boosted its holdings in Cullen/Frost Bankers by 2.8% during the 3rd quarter. US Bancorp DE now owns 3,990 shares of the bank’s stock valued at $506,000 after acquiring an additional 110 shares during the period. Finally, GAMMA Investing LLC grew its position in Cullen/Frost Bankers by 1.4% during the 3rd quarter. GAMMA Investing LLC now owns 8,049 shares of the bank’s stock worth $1,020,000 after acquiring an additional 113 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Price Performance

Shares of CFR stock opened at $132.34 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.67 and a current ratio of 0.67. Cullen/Frost Bankers, Inc. has a fifty-two week low of $100.31 and a fifty-two week high of $148.97. The firm has a market cap of $8.36 billion, a P/E ratio of 13.34, a P/E/G ratio of 4.86 and a beta of 0.63. The business’s 50 day moving average price is $139.14 and its 200-day moving average price is $130.89.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, January 29th. The bank reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.09. Cullen/Frost Bankers had a return on equity of 15.49% and a net margin of 22.21%.The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $578.05 million. During the same quarter in the prior year, the company earned $2.36 earnings per share. On average, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, February 27th. Cullen/Frost Bankers’s payout ratio is presently 40.32%.

Insider Buying and Selling

In other Cullen/Frost Bankers news, EVP Bobby Berman sold 1,000 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $137.07, for a total value of $137,070.00. Following the completion of the transaction, the executive vice president directly owned 28,406 shares in the company, valued at approximately $3,893,610.42. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.89% of the company’s stock.

Analyst Upgrades and Downgrades

CFR has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Cullen/Frost Bankers from $136.00 to $143.00 and gave the stock an “underweight” rating in a research note on Monday, March 2nd. Barclays increased their price objective on Cullen/Frost Bankers from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods lifted their target price on shares of Cullen/Frost Bankers from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. DA Davidson upped their price target on shares of Cullen/Frost Bankers from $136.00 to $144.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Cantor Fitzgerald increased their price target on shares of Cullen/Frost Bankers from $141.00 to $152.00 and gave the company a “neutral” rating in a research report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $142.67.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.