Cullen/Frost Bankers, Inc. (NYSE:CFR) Stake Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 31,589 shares of the bank’s stock after selling 485 shares during the period. Thrivent Financial for Lutherans’ holdings in Cullen/Frost Bankers were worth $3,533,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Covestor Ltd increased its stake in Cullen/Frost Bankers by 169.9% during the 3rd quarter. Covestor Ltd now owns 224 shares of the bank’s stock valued at $25,000 after buying an additional 141 shares during the period. Asset Dedication LLC increased its stake in shares of Cullen/Frost Bankers by 63.3% during the third quarter. Asset Dedication LLC now owns 271 shares of the bank’s stock valued at $30,000 after acquiring an additional 105 shares during the period. Allworth Financial LP increased its stake in shares of Cullen/Frost Bankers by 116.6% during the third quarter. Allworth Financial LP now owns 444 shares of the bank’s stock valued at $50,000 after acquiring an additional 239 shares during the period. Capital Performance Advisors LLP bought a new stake in Cullen/Frost Bankers during the third quarter worth approximately $52,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Cullen/Frost Bankers in the second quarter worth approximately $54,000. 86.90% of the stock is owned by institutional investors.

Cullen/Frost Bankers Price Performance

Shares of NYSE:CFR opened at $143.96 on Tuesday. The company’s fifty day moving average is $124.07 and its two-hundred day moving average is $112.13. The company has a market cap of $9.23 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.72 and a beta of 0.98. Cullen/Frost Bankers, Inc. has a 12-month low of $94.09 and a 12-month high of $147.64. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.07. Cullen/Frost Bankers had a return on equity of 15.82% and a net margin of 18.81%. The firm had revenue of $518.04 million during the quarter, compared to the consensus estimate of $517.25 million. During the same period in the prior year, the business earned $2.38 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect that Cullen/Frost Bankers, Inc. will post 8.71 earnings per share for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, November 29th. Cullen/Frost Bankers’s payout ratio is presently 47.15%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CFR shares. Truist Financial cut their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating for the company in a report on Friday, September 20th. Citigroup upped their price target on shares of Cullen/Frost Bankers from $104.00 to $113.00 and gave the company a “sell” rating in a report on Monday, November 4th. Evercore ISI lowered their price objective on shares of Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 2nd. Wedbush cut their target price on shares of Cullen/Frost Bankers from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Finally, 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 report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.86.

Insider Buying and Selling at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CEO Phillip D. Green sold 14,358 shares of Cullen/Frost Bankers stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.96, for a total value of $1,980,829.68. Following the completion of the sale, the chief executive officer now directly owns 94,423 shares in the company, valued at $13,026,597.08. The trade was a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Howard L. Kasanoff sold 4,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $138.34, for a total transaction of $553,360.00. Following the transaction, the executive vice president now owns 2,888 shares in the company, valued at approximately $399,525.92. This trade represents a 58.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,864 shares of company stock worth $2,977,033. 3.00% of the stock is currently owned by company insiders.

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.