WealthPLAN Partners LLC Sells 3,692 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

WealthPLAN Partners LLC cut its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,844 shares of the bank’s stock after selling 3,692 shares during the period. WealthPLAN Partners LLC owned 0.06% of Cullen/Frost Bankers worth $4,049,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CFR. Renaissance Technologies LLC boosted its stake in Cullen/Frost Bankers by 8.9% in the 2nd quarter. Renaissance Technologies LLC now owns 97,900 shares of the bank’s stock valued at $9,950,000 after purchasing an additional 8,000 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Cullen/Frost Bankers by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 953,098 shares of the bank’s stock valued at $96,856,000 after acquiring an additional 120,333 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Cullen/Frost Bankers during the second quarter worth about $2,780,000. Qsemble Capital Management LP raised its stake in Cullen/Frost Bankers by 55.0% in the 2nd quarter. Qsemble Capital Management LP now owns 3,141 shares of the bank’s stock worth $319,000 after purchasing an additional 1,115 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Cullen/Frost Bankers by 11.9% in the 2nd quarter. American Century Companies Inc. now owns 68,296 shares of the bank’s stock worth $6,941,000 after purchasing an additional 7,236 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity

In other news, EVP Candace K. Wolfshohl sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the transaction, the executive vice president now owns 18,753 shares of the company’s stock, valued at $2,243,796.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cullen/Frost Bankers news, EVP Howard L. Kasanoff sold 3,000 shares of Cullen/Frost Bankers stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at approximately $190,481.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Candace K. Wolfshohl sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $119.65, for a total value of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares of the company’s stock, valued at approximately $2,243,796.45. The disclosure for this sale can be found here. Insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CFR. Wedbush boosted their price objective on shares of Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price objective on Cullen/Frost Bankers from $119.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Stephens lifted their price objective on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Evercore ISI reduced their target price on Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. Finally, DA Davidson increased their target price on Cullen/Frost Bankers from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $119.93.

Cullen/Frost Bankers Trading Up 0.9 %

Shares of Cullen/Frost Bankers stock opened at $110.39 on Tuesday. The firm’s 50 day moving average is $109.57 and its 200 day moving average is $106.77. The firm has a market capitalization of $7.09 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.29 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a 1 year low of $82.25 and a 1 year high of $123.17. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. Cullen/Frost Bankers had a net margin of 19.51% and a return on equity of 17.43%. The firm had revenue of $528.81 million for the quarter, compared to analysts’ expectations of $506.83 million. During the same quarter in the previous year, the firm posted $2.47 earnings per share. Equities research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.62 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.95 dividend. The ex-dividend date was Friday, August 30th. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 3.44%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 44.92%.

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.