Pathstone Holdings LLC Boosts Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Pathstone Holdings LLC lifted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 45.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,273 shares of the bank's stock after buying an additional 5,981 shares during the quarter. Pathstone Holdings LLC's holdings in Cullen/Frost Bankers were worth $2,156,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Boston Trust Walden Corp purchased a new stake in Cullen/Frost Bankers in the 3rd quarter worth $107,166,000. Dimensional Fund Advisors LP lifted its stake in Cullen/Frost Bankers by 14.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank's stock worth $96,856,000 after purchasing an additional 120,333 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Cullen/Frost Bankers by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 806,209 shares of the bank's stock worth $90,185,000 after purchasing an additional 25,909 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Cullen/Frost Bankers by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 648,922 shares of the bank's stock worth $65,950,000 after purchasing an additional 2,420 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Cullen/Frost Bankers in the 3rd quarter worth $54,012,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Transactions at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 3,506 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $553,360.00. Following the completion of the sale, the executive vice president now directly owns 2,888 shares of the company's stock, valued at $399,525.92. The trade was a 58.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,864 shares of company stock valued at $2,977,033. Company insiders own 3.00% of the company's stock.

Cullen/Frost Bankers Price Performance

Shares of CFR stock opened at $142.91 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $9.16 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.73 and a beta of 0.98. The company's 50-day simple moving average is $124.74 and its two-hundred day simple moving average is $112.39. Cullen/Frost Bankers, Inc. has a one year low of $94.09 and a one year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.17 by $0.07. The business had revenue of $518.04 million for the quarter, compared to the consensus estimate of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 EPS. As a group, equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.73 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm 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 $0.95 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.80 annualized dividend and a dividend yield of 2.66%. Cullen/Frost Bankers's payout ratio is presently 47.15%.

Analyst Ratings Changes

CFR has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target 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. 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 report on Friday, November 1st. Compass Point boosted their target price on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Truist Financial reduced their target price 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. Finally, Evercore ISI reduced their target price on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an "underperform" rating on the stock in a report on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers presently has an average rating of "Hold" and an average 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.