Glass Wealth Management Co LLC Purchases 5,837 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Glass Wealth Management Co LLC grew its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 19.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,224 shares of the bank's stock after purchasing an additional 5,837 shares during the quarter. Cullen/Frost Bankers comprises about 2.2% of Glass Wealth Management Co LLC's investment portfolio, making the stock its 15th biggest position. Glass Wealth Management Co LLC owned approximately 0.05% of Cullen/Frost Bankers worth $3,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sather Financial Group Inc acquired a new stake in Cullen/Frost Bankers in the 3rd quarter worth $208,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at about $54,012,000. Natixis Advisors LLC boosted its position in shares of Cullen/Frost Bankers by 300.6% during the 3rd quarter. Natixis Advisors LLC now owns 223,655 shares of the bank's stock valued at $25,018,000 after acquiring an additional 167,828 shares in the last quarter. Coastline Trust Co acquired a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at about $203,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at about $214,000. Institutional investors own 86.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on CFR. Compass Point boosted their price target on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Stephens boosted their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their target price on shares of Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a "sector perform" rating in a research note on Friday, November 1st. Evercore ISI dropped their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating for the company in a research note on Wednesday, October 2nd. Finally, Truist Financial dropped their target price on shares of 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 issued a buy rating to the stock. According to data from MarketBeat.com, Cullen/Frost Bankers has a consensus rating of "Hold" and an average price target of $123.86.

Cullen/Frost Bankers Stock Down 0.5 %

CFR traded down $0.76 during mid-day trading on Monday, reaching $138.52. 460,559 shares of the stock were exchanged, compared to its average volume of 457,439. The company has a 50 day moving average price of $120.88 and a two-hundred day moving average price of $110.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $8.88 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $144.89.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The business had revenue of $518.04 million for the quarter, compared to analysts' expectations of $517.25 million. During the same period in the previous year, the business posted $2.38 EPS. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers's dividend payout ratio is presently 47.15%.

Insider Activity

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the completion of the sale, the executive vice president now owns 2,888 shares of the company's stock, valued at $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the completion of the sale, the executive vice president now directly owns 26,661 shares of the company's stock, valued at approximately $3,367,550.91. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.00% of the company's stock.

Cullen/Frost Bankers 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.