Cullen/Frost Bankers, Inc. (CFR) Shares Bought by WealthPLAN Partners LLC
WealthPLAN Partners LLC lifted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 38.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,856 shares of the bank’s stock after acquiring an additional 5,491 shares during the quarter. WealthPLAN Partners LLC’s holdings in Cullen/Frost Bankers were worth $2,106,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Aristotle Capital Management LLC lifted its holdings in shares of Cullen/Frost Bankers by 4.7% in the 1st quarter. Aristotle Capital Management LLC now owns 2,102,577 shares of the bank’s stock worth $223,020,000 after acquiring an additional 93,525 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Cullen/Frost Bankers by 5.2% in the 1st quarter. LPL Financial LLC now owns 44,457 shares of the bank’s stock worth $4,716,000 after acquiring an additional 2,209 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Cullen/Frost Bankers by 2.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,021 shares of the bank’s stock worth $2,334,000 after acquiring an additional 615 shares during the last quarter. Carleon Capital Partners LLC bought a new stake in shares of Cullen/Frost Bankers in the 1st quarter worth approximately $2,275,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Cullen/Frost Bankers by 2.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,029,384 shares of the bank’s stock worth $109,187,000 after acquiring an additional 29,063 shares during the last quarter. Hedge funds and other institutional investors own 79.87% of the company’s stock.
Shares of NYSE CFR traded down $0.46 during mid-day trading on Thursday, hitting $113.64. The stock had a trading volume of 1,388 shares, compared to its average volume of 436,163. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.08. Cullen/Frost Bankers, Inc. has a 1 year low of $81.09 and a 1 year high of $121.66. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.81 and a beta of 1.28.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.36%. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.57. The ex-dividend date is Wednesday, May 30th. Cullen/Frost Bankers’s payout ratio is presently 49.17%.
A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Cullen/Frost Bankers from $113.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, April 27th. Morgan Stanley boosted their price objective on shares of Cullen/Frost Bankers from $107.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, April 30th. Deutsche Bank boosted their price objective on shares of Cullen/Frost Bankers from $108.00 to $117.00 and gave the stock a “hold” rating in a report on Friday, May 4th. ValuEngine lowered shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Monday. Finally, Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating and set a $134.00 price objective for the company in a report on Tuesday, May 1st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $112.35.
In related news, Director Graham M. Weston acquired 43,000 shares of Cullen/Frost Bankers stock in a transaction on Friday, May 4th. The shares were acquired at an average cost of $114.05 per share, with a total value of $4,904,150.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Samuel G. Dawson acquired 859 shares of Cullen/Frost Bankers stock in a transaction on Tuesday, May 1st. The shares were bought at an average cost of $116.47 per share, for a total transaction of $100,047.73. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 70,149 shares of company stock worth $8,062,776. 4.64% of the stock is owned by insiders.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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