WCM Investment Management LLC Boosts Stock Holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR)

WCM Investment Management LLC lifted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 339.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,079 shares of the bank's stock after acquiring an additional 15,514 shares during the period. WCM Investment Management LLC's holdings in Cullen/Frost Bankers were worth $2,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in Cullen/Frost Bankers by 40.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,376 shares of the bank's stock valued at $155,000 after acquiring an additional 395 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Cullen/Frost Bankers by 35.2% during the first quarter. Janney Montgomery Scott LLC now owns 16,573 shares of the bank's stock worth $1,866,000 after purchasing an additional 4,317 shares during the last quarter. Sei Investments Co. boosted its position in Cullen/Frost Bankers by 15.9% during the first quarter. Sei Investments Co. now owns 377,920 shares of the bank's stock worth $42,543,000 after purchasing an additional 51,808 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in Cullen/Frost Bankers in the first quarter valued at $228,000. Finally, First National Bank of Hutchinson increased its position in shares of Cullen/Frost Bankers by 1.6% in the first quarter. First National Bank of Hutchinson now owns 6,336 shares of the bank's stock valued at $713,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Down 1.4 %

Shares of NYSE CFR traded down $2.01 during trading hours on Tuesday, hitting $141.01. 598,622 shares of the stock were exchanged, compared to its average volume of 458,038. Cullen/Frost Bankers, Inc. has a 12 month low of $91.61 and a 12 month high of $144.89. The company has a market cap of $9.04 billion, a PE ratio of 17.76, a PEG ratio of 1.68 and a beta of 0.98. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $118.52 and a 200-day moving average price of $110.01.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last released its quarterly 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. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The company had revenue of $518.04 million for the quarter, compared to analysts' expectations of $517.25 million. During the same period in the prior year, the firm earned $2.38 earnings per share. The firm's revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers's dividend payout ratio is currently 47.15%.

Insider Activity

In other news, 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 completion of the transaction, the executive vice president now owns 2,888 shares of the company's stock, valued at approximately $399,525.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Howard L. Kasanoff sold 4,000 shares of Cullen/Frost Bankers 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 completion of the sale, the executive vice president now owns 2,888 shares of the company's stock, valued at approximately $399,525.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $126.31, for a total transaction of $442,842.86. Following the sale, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CFR shares. Stephens upped their target price on shares of Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Royal Bank of Canada raised their price objective on 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. Truist Financial decreased 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 report on Friday, September 20th. DA Davidson increased their price objective on Cullen/Frost Bankers from $127.00 to $134.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Finally, Compass Point lifted their price objective 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $123.86.

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.