Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Purchased by Keene & Associates Inc.

Keene & Associates Inc. boosted its holdings in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,240 shares of the bank’s stock after buying an additional 89 shares during the period. Keene & Associates Inc.’s holdings in Cullen/Frost Bankers were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CFR. Asset Dedication LLC grew 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 worth $30,000 after acquiring an additional 105 shares during the last quarter. Whittier Trust Co. grew its position in Cullen/Frost Bankers by 90.7% during the 1st quarter. Whittier Trust Co. now owns 391 shares of the bank’s stock worth $44,000 after purchasing an additional 186 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in Cullen/Frost Bankers during the 2nd quarter valued at approximately $54,000. North Star Investment Management Corp. purchased a new position in shares of Cullen/Frost Bankers in the first quarter worth $69,000. Finally, Eagle Bay Advisors LLC raised its holdings in shares of Cullen/Frost Bankers by 1,625.6% in the second quarter. Eagle Bay Advisors LLC now owns 742 shares of the bank’s stock worth $75,000 after buying an additional 699 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Cullen/Frost Bankers Stock Up 2.0 %

CFR stock opened at $125.46 on Thursday. The firm’s fifty day moving average is $112.92 and its 200 day moving average is $108.07. The firm has a market cap of $8.03 billion, a PE ratio of 15.30, a P/E/G ratio of 1.51 and a beta of 1.00. Cullen/Frost Bankers, Inc. has a one year low of $82.25 and a one year high of $125.98. 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 (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. The firm had revenue of $528.81 million during the quarter, compared to analyst estimates of $506.83 million. Cullen/Frost Bankers had a return on equity of 17.43% and a net margin of 19.51%. During the same quarter in the previous year, the business earned $2.47 EPS. On average, research analysts forecast that Cullen/Frost Bankers, Inc. will post 8.59 EPS for the current year.

Insider Buying and Selling at Cullen/Frost Bankers

In other news, EVP Howard L. Kasanoff sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.20, for a total transaction of $357,600.00. Following the completion of the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 5,000 shares of the business’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 transaction of $598,250.00. Following the completion of the sale, the executive vice president now directly owns 18,753 shares in the company, valued at approximately $2,243,796.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Howard L. Kasanoff sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.20, for a total value of $357,600.00. Following the transaction, the executive vice president now directly owns 1,598 shares of the company’s stock, valued at $190,481.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CFR has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price objective on shares of Cullen/Frost Bankers from $119.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Truist Financial cut their price objective on Cullen/Frost Bankers from $126.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Evercore ISI decreased their target price on Cullen/Frost Bankers from $123.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, October 2nd. Stephens upped their target price on Cullen/Frost Bankers from $116.00 to $131.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group reduced their price target on shares of Cullen/Frost Bankers from $117.00 to $108.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $121.31.

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.