Icon Wealth Advisors LLC Purchases 3,948 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Icon Wealth Advisors LLC increased its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 244.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,561 shares of the bank's stock after acquiring an additional 3,948 shares during the quarter. Icon Wealth Advisors LLC's holdings in Cullen/Frost Bankers were worth $622,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Covestor Ltd lifted its position in shares of Cullen/Frost Bankers by 169.9% during the third quarter. Covestor Ltd now owns 224 shares of the bank's stock worth $25,000 after purchasing an additional 141 shares during the last quarter. Asset Dedication LLC increased its holdings 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 valued at $30,000 after acquiring an additional 105 shares during the last quarter. Allworth Financial LP raised its position in shares of 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 in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Cullen/Frost Bankers during the 3rd quarter valued at approximately $52,000. Finally, Abich Financial Wealth Management LLC bought a new position in Cullen/Frost Bankers during the second quarter worth $54,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Buying and Selling

In other news, CEO Phillip D. Green sold 14,358 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the sale, the chief executive officer now directly owns 94,423 shares of the company's stock, valued at approximately $13,026,597.08. This represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Howard L. Kasanoff sold 4,000 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $138.34, for a total transaction of $553,360.00. Following the transaction, the executive vice president now directly owns 2,888 shares of the company's stock, valued at $399,525.92. This represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,864 shares of company stock worth $2,977,033. 2.89% of the stock is currently owned by insiders.

Cullen/Frost Bankers Stock Up 2.0 %

Shares of NYSE CFR traded up $2.79 during mid-day trading on Friday, reaching $142.32. The company had a trading volume of 434,295 shares, compared to its average volume of 578,046. The stock's 50 day moving average is $124.07 and its 200-day moving average is $112.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a twelve month low of $94.09 and a twelve month high of $144.89. The stock has a market capitalization of $9.13 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.72 and a beta of 0.98.

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

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers's payout ratio is 47.15%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Evercore ISI lowered 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. Stephens raised 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, November 1st. Truist Financial dropped their price objective on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating on the stock in a report on Friday, September 20th. Morgan Stanley lowered their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an "underweight" rating on the stock in a report on Monday, September 30th. Finally, Compass Point increased their price target on Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Four research 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. According to MarketBeat, Cullen/Frost Bankers presently has a consensus rating of "Hold" and a consensus target price of $123.86.

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.