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

Icon Wealth Advisors LLC lifted its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 244.8% 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 5,561 shares of the bank’s stock after purchasing an additional 3,948 shares during the period. Icon Wealth Advisors LLC’s holdings in Cullen/Frost Bankers were worth $622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CFR. Tidal Investments LLC lifted its holdings in Cullen/Frost Bankers by 125.2% in the 1st quarter. Tidal Investments LLC now owns 11,888 shares of the bank’s stock worth $1,338,000 after buying an additional 6,610 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Cullen/Frost Bankers by 11.9% in the second quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock worth $6,941,000 after acquiring an additional 7,236 shares in the last quarter. Raymond James & Associates boosted its holdings in Cullen/Frost Bankers by 10.0% in the third quarter. Raymond James & Associates now owns 119,447 shares of the bank’s stock valued at $13,361,000 after purchasing an additional 10,884 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in Cullen/Frost Bankers by 7,109.7% during the 2nd 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 in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Cullen/Frost Bankers by 71,247.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 31,393 shares of the bank’s stock worth $3,512,000 after purchasing an additional 31,349 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cullen/Frost Bankers

In related news, CEO Phillip D. Green sold 14,358 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total transaction of $1,980,829.68. Following the transaction, the chief executive officer now owns 94,423 shares in the company, valued at $13,026,597.08. This trade represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bobby Berman sold 3,506 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 $3,367,550.91. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,864 shares of company stock valued at $2,977,033 in the last quarter. Corporate insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Evercore ISI decreased their price target on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, October 2nd. 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 research report on Tuesday, November 5th. Citigroup upped their target price on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Royal Bank of Canada lifted their price target 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. Finally, Stephens upped their price objective on Cullen/Frost Bankers from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average target price of $123.86.

Cullen/Frost Bankers Stock Performance

Shares of CFR opened at $142.32 on Friday. The firm has a fifty day moving average of $124.07 and a 200-day moving average of $112.05. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 0.66. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $144.89.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The firm had revenue of $518.04 million during the quarter, compared to analyst estimates of $517.25 million. During the same period in the previous year, the business posted $2.38 EPS. Cullen/Frost Bankers’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, November 29th. Cullen/Frost Bankers’s dividend payout ratio is currently 47.15%.

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.