Raymond James & Associates Has $13.36 Million Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Raymond James & Associates lifted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,447 shares of the bank's stock after purchasing an additional 10,884 shares during the period. Raymond James & Associates owned about 0.19% of Cullen/Frost Bankers worth $13,361,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Champlain Investment Partners LLC increased its stake in shares of Cullen/Frost Bankers by 18.4% in the first quarter. Champlain Investment Partners LLC now owns 3,192,486 shares of the bank's stock worth $359,378,000 after buying an additional 495,215 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Cullen/Frost Bankers during the second quarter worth about $37,813,000. Strategic Financial Concepts LLC grew its position in shares of Cullen/Frost Bankers by 7,109.7% during the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank's stock worth $255,000 after acquiring an additional 247,416 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Cullen/Frost Bankers by 18.8% during the first quarter. Janus Henderson Group PLC now owns 1,021,559 shares of the bank's stock worth $114,994,000 after acquiring an additional 161,580 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Cullen/Frost Bankers during the second quarter worth about $13,574,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Howard L. Kasanoff sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now owns 1,598 shares in the company, valued at $190,481.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CFR. Wedbush reduced their price objective on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a "neutral" rating for the company in a report on Tuesday, September 24th. Truist Financial cut their price target on shares of Cullen/Frost Bankers from $126.00 to $123.00 and set a "hold" rating for the company in a report on Friday, September 20th. Stephens upped their price target on shares of Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an "equal weight" rating in a report on Friday, July 26th. Royal Bank of Canada upped 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 report on Friday, July 26th. Finally, DA Davidson upped their price target on shares of Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a "buy" rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $121.31.

Cullen/Frost Bankers Stock Up 3.9 %

Shares of CFR traded up $4.93 during trading hours on Monday, reaching $132.35. The company's stock had a trading volume of 648,739 shares, compared to its average volume of 445,063. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 1.56 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 1-year low of $88.86 and a 1-year high of $133.03. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $113.65 and a two-hundred day moving average of $108.27.

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

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.