Cullen/Frost Bankers, Inc. (NYSE:CFR) Stake Raised by nVerses Capital LLC

nVerses Capital LLC increased its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 537.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,100 shares of the bank's stock after acquiring an additional 4,300 shares during the period. nVerses Capital LLC's holdings in Cullen/Frost Bankers were worth $570,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CFR. Asset Dedication LLC lifted its position in Cullen/Frost Bankers by 63.3% during 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 in the last quarter. Washington Capital Management Inc. acquired a new position in Cullen/Frost Bankers during the third quarter valued at approximately $548,000. Procyon Advisors LLC lifted its position in Cullen/Frost Bankers by 8.9% during the third quarter. Procyon Advisors LLC now owns 2,212 shares of the bank's stock valued at $247,000 after buying an additional 180 shares in the last quarter. Juncture Wealth Strategies LLC lifted its position in Cullen/Frost Bankers by 45.4% during the third quarter. Juncture Wealth Strategies LLC now owns 2,881 shares of the bank's stock valued at $322,000 after buying an additional 900 shares in the last quarter. Finally, CWM LLC lifted its position in Cullen/Frost Bankers by 767.4% during the third quarter. CWM LLC now owns 3,383 shares of the bank's stock valued at $378,000 after buying an additional 2,993 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CFR shares. Royal Bank of Canada lifted their price target on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a "sector perform" rating in a research report on Friday, July 26th. Evercore ISI dropped their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating on the stock in a research note on Wednesday, October 2nd. 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 research note on Friday, September 20th. Jefferies Financial Group dropped their price objective on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a "hold" rating on the stock in a research note on Wednesday, July 3rd. Finally, DA Davidson lifted their price objective on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Cullen/Frost Bankers has a consensus rating of "Hold" and a consensus target price of $121.31.

Insider Activity

In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the business's stock in a transaction on Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the transaction, the executive vice president now owns 18,753 shares of the company's stock, valued at approximately $2,243,796.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the business's stock in a transaction on Friday, July 26th. The shares were sold at an average price of $119.65, for a total transaction of $598,250.00. Following the completion of the transaction, the executive vice president now owns 18,753 shares of the company's stock, valued at approximately $2,243,796.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Howard L. Kasanoff sold 3,000 shares of the business's stock in a transaction 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 transaction, 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. Corporate insiders own 2.89% of the company's stock.

Cullen/Frost Bankers Stock Performance

CFR stock traded down $0.40 during trading on Friday, hitting $123.67. 465,386 shares of the company's stock traded hands, compared to its average volume of 440,367. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. Cullen/Frost Bankers, Inc. has a 52 week low of $82.25 and a 52 week high of $124.91. The stock has a fifty day moving average price of $111.54 and a two-hundred day moving average price of $107.73. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The firm had revenue of $528.81 million during the quarter, compared to analyst estimates of $506.83 million. During the same quarter in the previous year, the firm earned $2.47 earnings per share. As a group, equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.59 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

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

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.