Avidian Wealth Enterprises LLC Reduces Stock Position in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Avidian Wealth Enterprises LLC decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 7.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,413 shares of the bank’s stock after selling 199 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Cullen/Frost Bankers were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Dedication LLC raised its position in shares of Cullen/Frost Bankers by 63.3% in the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after buying an additional 105 shares during the last quarter. Allworth Financial LP grew its stake in Cullen/Frost Bankers by 116.6% in the 3rd quarter. Allworth Financial LP now owns 444 shares of the bank’s stock worth $50,000 after acquiring an additional 239 shares during the period. Abich Financial Wealth Management LLC acquired a new position in Cullen/Frost Bankers in the 2nd quarter valued at $54,000. GAMMA Investing LLC boosted its holdings in shares of Cullen/Frost Bankers by 18.5% during the third quarter. GAMMA Investing LLC now owns 678 shares of the bank’s stock worth $76,000 after purchasing an additional 106 shares during the last quarter. Finally, Eagle Bay Advisors LLC grew its position in shares of Cullen/Frost Bankers by 1,625.6% in the second quarter. Eagle Bay Advisors LLC now owns 742 shares of the bank’s stock valued at $75,000 after purchasing an additional 699 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Bobby Berman sold 3,506 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $126.31, for a total value of $442,842.86. Following the transaction, the executive vice president now owns 26,661 shares in the company, valued at approximately $3,367,550.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR opened at $138.05 on Friday. The business’s 50-day simple moving average is $117.36 and its 200 day simple moving average is $109.68. The company has a market cap of $8.85 billion, a P/E ratio of 17.13, a PEG ratio of 1.51 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 one year low of $91.24 and a one year high of $144.19.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data 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. The company had revenue of $518.04 million for the quarter, compared to analyst estimates of $517.25 million. Cullen/Frost Bankers had a net margin of 18.81% and a return on equity of 15.82%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.38 earnings per share. On average, sell-side analysts forecast that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 dividend on an annualized basis and a yield of 2.75%. Cullen/Frost Bankers’s payout ratio is currently 47.15%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Evercore ISI reduced their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 2nd. Stephens raised 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 research report on Friday, November 1st. Truist Financial dropped 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 research report on Friday, September 20th. DA Davidson lifted 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. Finally, Royal Bank of Canada upped their price objective on Cullen/Frost Bankers from $118.00 to $130.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Four 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.