Avidian Wealth Solutions LLC Invests $210,000 in Cullen/Frost Bankers, Inc. (NYSE:CFR)

Avidian Wealth Solutions LLC acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,770 shares of the bank’s stock, valued at approximately $210,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its holdings in shares of Cullen/Frost Bankers by 83.2% in the third quarter. Meeder Asset Management Inc. now owns 251 shares of the bank’s stock valued at $30,000 after acquiring an additional 114 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in shares of Cullen/Frost Bankers in the third quarter valued at about $33,000. Koshinski Asset Management Inc. bought a new stake in shares of Cullen/Frost Bankers in the third quarter valued at about $69,000. Toronto Dominion Bank raised its holdings in shares of Cullen/Frost Bankers by 14.4% in the third quarter. Toronto Dominion Bank now owns 956 shares of the bank’s stock valued at $113,000 after acquiring an additional 120 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Cullen/Frost Bankers in the second quarter valued at about $134,000. Hedge funds and other institutional investors own 82.51% of the company’s stock.

Shares of NYSE CFR opened at $143.06 on Friday. The business’s 50 day moving average price is $130.89 and its 200 day moving average price is $121.01. The firm has a market cap of $9.12 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.59 and a beta of 1.41. Cullen/Frost Bankers, Inc. has a 52 week low of $91.23 and a 52 week high of $143.94. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Wednesday, October 27th. The bank reported $1.65 EPS for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.13. The firm had revenue of $246.12 million for the quarter, compared to analyst estimates of $351.11 million. Cullen/Frost Bankers had a return on equity of 10.29% and a net margin of 31.19%. Cullen/Frost Bankers’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 earnings per share. As a group, research analysts expect that Cullen/Frost Bankers, Inc. will post 6.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Tuesday, November 30th were given a $0.75 dividend. The ex-dividend date was Monday, November 29th. This represents a $3.00 dividend on an annualized basis and a yield of 2.10%. Cullen/Frost Bankers’s dividend payout ratio is currently 45.45%.

CFR has been the subject of several recent research reports. Wedbush lifted their price objective on Cullen/Frost Bankers from $113.00 to $119.00 and gave the company an “underperform” rating in a report on Monday, November 1st. Morgan Stanley lifted their target price on Cullen/Frost Bankers from $100.00 to $108.00 and gave the company an “underweight” rating in a research note on Monday, December 6th. Truist Securities lifted their target price on Cullen/Frost Bankers from $117.00 to $130.00 and gave the company a “hold” rating in a research note on Friday, October 1st. Royal Bank of Canada lifted their target price on Cullen/Frost Bankers from $126.00 to $135.00 and gave the company a “sector perform” rating in a research note on Friday, October 29th. Finally, Stephens lifted their target price on Cullen/Frost Bankers from $120.00 to $134.00 and gave the company an “equal weight” rating in a research note on Friday, October 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and a consensus price target of $128.50.

In other Cullen/Frost Bankers news, EVP Candace K. Wolfshohl sold 7,799 shares of the business’s stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $129.24, for a total value of $1,007,942.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phillip D. Green sold 77,575 shares of the business’s stock in a transaction that occurred on Tuesday, November 2nd. The shares were sold at an average price of $136.66, for a total value of $10,601,399.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,455 shares of company stock worth $17,551,157. 4.50% of the stock is owned by insiders.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc operates as a bank holding company of Frost Bank, which engages in the provision of commercial and consumer banking services, as well as trust and investment management, mutual funds, investment banking, insurance, brokerage, leasing, asset-based lending, treasury management and item processing services.

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Institutional Ownership by Quarter for Cullen/Frost Bankers (NYSE:CFR)

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