Legacy Financial Advisors Inc. Acquires 3,981 Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR)

Legacy Financial Advisors Inc. boosted its stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) by 81.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,840 shares of the bank’s stock after purchasing an additional 3,981 shares during the period. Legacy Financial Advisors Inc.’s holdings in Cullen/Frost Bankers were worth $959,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Anchor Investment Management LLC purchased a new position in Cullen/Frost Bankers in the 4th quarter worth approximately $1,069,000. Hsbc Holdings PLC bought a new stake in shares of Cullen/Frost Bankers in the third quarter worth about $1,302,000. Raymond James & Associates lifted its position in shares of Cullen/Frost Bankers by 15.1% in the third quarter. Raymond James & Associates now owns 203,802 shares of the bank’s stock worth $18,589,000 after buying an additional 26,670 shares in the last quarter. Aigen Investment Management LP bought a new position in Cullen/Frost Bankers during the third quarter valued at approximately $530,000. Finally, Bryn Mawr Capital Management LLC purchased a new position in Cullen/Frost Bankers during the 4th quarter valued at approximately $1,042,000. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CFR. Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Jefferies Financial Group upped their price objective on Cullen/Frost Bankers from $119.00 to $121.00 and gave the company a “hold” rating in a research report on Monday, April 8th. DA Davidson reiterated a “buy” rating and issued a $126.00 target price on shares of Cullen/Frost Bankers in a report on Thursday, March 28th. Truist Financial cut their target price on Cullen/Frost Bankers from $121.00 to $115.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Finally, StockNews.com upgraded Cullen/Frost Bankers to a “sell” rating in a research report on Saturday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $117.46.

Insiders Place Their Bets

In other news, EVP Bobby Berman sold 1,312 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $105.49, for a total value of $138,402.88. Following the transaction, the executive vice president now directly owns 27,815 shares of the company’s stock, valued at $2,934,204.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cullen/Frost Bankers news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $109.40, for a total value of $1,074,308.00. Following the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $10,543,972. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Bobby Berman sold 1,312 shares of Cullen/Frost Bankers stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total value of $138,402.88. Following the transaction, the executive vice president now 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. 2.89% of the stock is currently owned by insiders.

Cullen/Frost Bankers Stock Down 0.5 %

Shares of CFR stock traded down $0.52 during trading hours on Friday, reaching $105.93. 735,181 shares of the company’s stock were exchanged, compared to its average volume of 434,094. The stock has a market cap of $6.81 billion, a PE ratio of 12.52, a PEG ratio of 1.32 and a beta of 1.04. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $108.94 and its two-hundred day moving average price is $104.37. Cullen/Frost Bankers, Inc. has a 1 year low of $82.25 and a 1 year high of $120.31.

Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Thursday, April 25th. The bank reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same quarter in the prior year, the firm posted $2.70 EPS. Research analysts predict that Cullen/Frost Bankers, Inc. will post 8.43 EPS for the current year.

Cullen/Frost Bankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.92 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 3.47%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 43.50%.

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.