Telemus Capital LLC Sells 1,677 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Telemus Capital LLC reduced its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,917 shares of the bank’s stock after selling 1,677 shares during the quarter. Telemus Capital LLC’s holdings in Cullen/Frost Bankers were worth $642,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Riggs Asset Managment Co. Inc. lifted its position in Cullen/Frost Bankers by 905.7% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 10,057 shares of the bank’s stock worth $1,091,000 after buying an additional 9,057 shares in the last quarter. Signaturefd LLC lifted its position in Cullen/Frost Bankers by 87.8% during the 4th quarter. Signaturefd LLC now owns 706 shares of the bank’s stock worth $77,000 after buying an additional 330 shares in the last quarter. J.W. Cole Advisors Inc. bought a new stake in Cullen/Frost Bankers during the 4th quarter worth about $595,000. Greenleaf Trust bought a new stake in Cullen/Frost Bankers during the 4th quarter worth about $231,000. Finally, Federated Hermes Inc. lifted its position in Cullen/Frost Bankers by 13.9% during the 4th quarter. Federated Hermes Inc. now owns 7,777 shares of the bank’s stock worth $844,000 after buying an additional 952 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Stock Performance

Shares of NYSE:CFR opened at $113.32 on Tuesday. The company’s 50 day moving average price is $108.77 and its two-hundred day moving average price is $103.40. Cullen/Frost Bankers, Inc. has a 12-month low of $82.25 and a 12-month high of $120.31. The firm has a market cap of $7.28 billion, a PE ratio of 12.45, a PEG ratio of 1.38 and a beta of 1.04. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.17. The business had revenue of $523.66 million for the quarter, compared to analyst estimates of $498.09 million. Cullen/Frost Bankers had a net margin of 22.60% and a return on equity of 19.66%. Equities research analysts predict that Cullen/Frost Bankers, Inc. will post 8.49 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 3.25%. The ex-dividend date was Wednesday, February 28th. Cullen/Frost Bankers’s payout ratio is 40.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CFR shares. Morgan Stanley upped their target price on shares of Cullen/Frost Bankers from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $118.00 target price on shares of Cullen/Frost Bankers in a report on Tuesday, April 9th. Stephens upped their target price on shares of Cullen/Frost Bankers from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Truist Financial upped their target price on shares of Cullen/Frost Bankers from $114.00 to $121.00 and gave the company a “hold” rating in a report on Monday, April 1st. Finally, Evercore ISI upped their target price on shares of Cullen/Frost Bankers from $109.00 to $113.00 and gave the company an “underperform” rating in a report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $117.92.

Insider Activity at Cullen/Frost Bankers

In other news, EVP Bobby Berman sold 1,312 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the completion of the transaction, the executive vice president now owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul Bracher sold 9,820 shares of Cullen/Frost Bankers stock in a transaction on Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the completion of the transaction, the insider now owns 96,380 shares of the company’s stock, valued at $10,543,972. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $105.49, for a total transaction of $138,402.88. Following the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at approximately $2,934,204.35. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

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.