Congress Wealth Management LLC DE Purchases 549 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Congress Wealth Management LLC DE increased its position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,083 shares of the bank’s stock after buying an additional 549 shares during the period. Congress Wealth Management LLC DE’s holdings in Cullen/Frost Bankers were worth $817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Cullen/Frost Bankers by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 553,903 shares of the bank’s stock valued at $61,960,000 after purchasing an additional 6,443 shares during the period. Cerity Partners LLC increased its holdings in Cullen/Frost Bankers by 48.4% during the third quarter. Cerity Partners LLC now owns 46,715 shares of the bank’s stock valued at $5,225,000 after buying an additional 15,244 shares during the period. Bank of Montreal Can raised its stake in Cullen/Frost Bankers by 515.8% in the third quarter. Bank of Montreal Can now owns 133,618 shares of the bank’s stock worth $14,857,000 after buying an additional 111,919 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Cullen/Frost Bankers by 117.4% during the third quarter. The Manufacturers Life Insurance Company now owns 568,730 shares of the bank’s stock worth $63,618,000 after buying an additional 307,129 shares during the period. Finally, D.A. Davidson & CO. boosted its position in Cullen/Frost Bankers by 17.4% during the 3rd quarter. D.A. Davidson & CO. now owns 9,914 shares of the bank’s stock valued at $1,109,000 after acquiring an additional 1,470 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $123.76 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.68 and a quick ratio of 0.68. The business has a fifty day moving average of $134.79 and a 200 day moving average of $130.72. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 6.46 and a beta of 0.97. Cullen/Frost Bankers, Inc. has a 1 year low of $94.09 and a 1 year high of $147.64.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.19. Cullen/Frost Bankers had a return on equity of 15.95% and a net margin of 20.44%. As a group, research analysts expect that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.07%. The ex-dividend date was Friday, February 28th. Cullen/Frost Bankers’s payout ratio is 42.84%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Evercore ISI boosted their price target on Cullen/Frost Bankers from $136.00 to $144.00 and gave the stock an “underperform” rating in a research report on Monday, February 10th. Compass Point increased their price target on shares of Cullen/Frost Bankers from $122.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $144.00 price objective on shares of Cullen/Frost Bankers in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on shares of Cullen/Frost Bankers from $140.00 to $148.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley lowered their target price on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an “underweight” rating for the company in a research note on Thursday, March 13th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $132.77.

Insider Activity at Cullen/Frost Bankers

In other news, insider Paul Bracher sold 11,500 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $139.45, for a total value of $1,603,675.00. Following the transaction, the insider now owns 102,946 shares in the company, valued at $14,355,819.70. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.89% of the stock is 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.