Impact Partnership Wealth LLC Invests $224,000 in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Impact Partnership Wealth LLC acquired a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,208 shares of the bank’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. ICA Group Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the 4th quarter valued at $33,000. CWM LLC raised its stake in Cullen/Frost Bankers by 46.5% during the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock valued at $38,000 after purchasing an additional 106 shares during the last quarter. Whittier Trust Co. raised its stake in Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock valued at $44,000 after purchasing an additional 186 shares during the last quarter. Parallel Advisors LLC raised its stake in Cullen/Frost Bankers by 89.7% during the 4th quarter. Parallel Advisors LLC now owns 461 shares of the bank’s stock valued at $50,000 after purchasing an additional 218 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Cullen/Frost Bankers by 40.7% during the 1st quarter. GAMMA Investing LLC now owns 574 shares of the bank’s stock valued at $65,000 after purchasing an additional 166 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cullen/Frost Bankers

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

Cullen/Frost Bankers Stock Down 2.0 %

CFR opened at $109.53 on Friday. The firm’s 50-day simple moving average is $108.67 and its 200-day simple moving average is $106.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.64 and a current ratio of 0.64. Cullen/Frost Bankers, Inc. has a twelve month low of $82.25 and a twelve month high of $123.17. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.36 and a beta of 1.00.

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 the consensus estimate 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 business had revenue of $528.81 million for the quarter, compared to analyst estimates of $506.83 million. During the same quarter in the prior year, the firm earned $2.47 EPS. Equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post 8.62 EPS for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.95 dividend. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.80 annualized dividend and a dividend yield of 3.47%. Cullen/Frost Bankers’s dividend payout ratio is presently 44.92%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their target price on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Wedbush upped their target price on shares of Cullen/Frost Bankers from $106.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Evercore ISI cut their target price on shares of Cullen/Frost Bankers from $109.00 to $100.00 and set an “underperform” rating for the company in a research note on Tuesday, June 25th. Truist Financial increased their price objective on shares of Cullen/Frost Bankers from $102.00 to $126.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Morgan Stanley cut shares of Cullen/Frost Bankers from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $112.00 to $121.00 in a research note on Monday, August 5th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $119.93.

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.