Glass Wealth Management Co LLC Has $3.94 Million Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Glass Wealth Management Co LLC raised its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 19.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 35,224 shares of the bank’s stock after acquiring an additional 5,837 shares during the quarter. Cullen/Frost Bankers comprises 2.2% of Glass Wealth Management Co LLC’s portfolio, making the stock its 15th biggest holding. Glass Wealth Management Co LLC’s holdings in Cullen/Frost Bankers were worth $3,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Boston Trust Walden Corp acquired a new position in shares of Cullen/Frost Bankers during the 3rd quarter valued at about $107,166,000. Vaughan Nelson Investment Management L.P. acquired a new position in Cullen/Frost Bankers during the third quarter valued at approximately $54,012,000. Deprince Race & Zollo Inc. acquired a new position in Cullen/Frost Bankers during the second quarter valued at approximately $37,813,000. Strategic Financial Concepts LLC raised its position in shares of Cullen/Frost Bankers by 7,109.7% in the second quarter. Strategic Financial Concepts LLC now owns 250,896 shares of the bank’s stock valued at $255,000 after purchasing an additional 247,416 shares during the period. Finally, Natixis Advisors LLC lifted its stake in shares of Cullen/Frost Bankers by 300.6% in the third quarter. Natixis Advisors LLC now owns 223,655 shares of the bank’s stock worth $25,018,000 after buying an additional 167,828 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CFR. Compass Point raised their target price on shares of Cullen/Frost Bankers from $111.00 to $122.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Wedbush lowered their price target on Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Truist Financial dropped their price objective on 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. Morgan Stanley decreased their target price on Cullen/Frost Bankers from $121.00 to $117.00 and set an “underweight” rating for the company in a research note on Monday, September 30th. Finally, Maxim Group raised their target price on Cullen/Frost Bankers from $138.00 to $149.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers presently has an average rating of “Hold” and a consensus price target of $123.86.

Cullen/Frost Bankers Price Performance

Shares of CFR stock opened at $139.27 on Monday. Cullen/Frost Bankers, Inc. has a 12 month low of $94.09 and a 12 month high of $144.89. The company has a market capitalization of $8.93 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.68 and a beta of 0.98. The stock has a 50 day moving average of $120.88 and a two-hundred day moving average of $110.97. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, October 31st. The bank reported $2.24 EPS for the quarter, beating 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 business had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same period in the prior year, the company posted $2.38 earnings per share. Cullen/Frost Bankers’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 EPS for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is 47.15%.

Insider Activity

In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 4,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total value of $553,360.00. Following the sale, the executive vice president now directly owns 2,888 shares in the company, valued at $399,525.92. This represents a 58.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Bobby Berman sold 3,506 shares of Cullen/Frost Bankers stock in a transaction 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 transaction, the executive vice president now directly owns 26,661 shares of the company’s stock, valued at approximately $3,367,550.91. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Cullen/Frost Bankers Company 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.