Cullen/Frost Bankers, Inc. (NYSE:CFR) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 205.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,844 shares of the bank's stock after acquiring an additional 9,977 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Cullen/Frost Bankers were worth $1,993,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CFR. Norges Bank purchased a new stake in shares of Cullen/Frost Bankers in the 4th quarter valued at $69,591,000. Madison Investment Advisors LLC purchased a new stake in Cullen/Frost Bankers during the fourth quarter worth $46,223,000. Strategic Financial Concepts LLC boosted its holdings in Cullen/Frost Bankers by 13,334.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 281,860 shares of the bank's stock worth $37,840,000 after buying an additional 279,762 shares in the last quarter. Northern Trust Corp boosted its holdings in Cullen/Frost Bankers by 33.7% during the fourth quarter. Northern Trust Corp now owns 973,576 shares of the bank's stock worth $130,703,000 after buying an additional 245,458 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Cullen/Frost Bankers during the fourth quarter worth $21,181,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, CAO Matthew Bradley Henson purchased 1,870 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were purchased at an average cost of $16.93 per share, with a total value of $31,659.10. Following the completion of the purchase, the chief accounting officer now owns 5,545 shares in the company, valued at approximately $93,876.85. This represents a 50.88% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Cullen/Frost Bankers from $132.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada lowered their price target on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group assumed coverage on shares of Cullen/Frost Bankers in a report on Wednesday, May 21st. They set an "underperform" rating and a $105.00 price target on the stock. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price target on the stock in a report on Friday, May 2nd. Finally, Barclays increased their price target on shares of Cullen/Frost Bankers from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $131.93.

Cullen/Frost Bankers Price Performance

CFR traded up $2.89 during midday trading on Friday, hitting $129.26. 344,357 shares of the company traded hands, compared to its average volume of 466,081. The business has a 50 day simple moving average of $120.35 and a two-hundred day simple moving average of $130.31. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 6.46 and a beta of 0.68. Cullen/Frost Bankers, Inc. has a 52-week low of $94.09 and a 52-week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The bank reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.13. The firm had revenue of $560.42 million for the quarter, compared to the consensus estimate of $540.57 million. Cullen/Frost Bankers had a net margin of 20.44% and a return on equity of 15.95%. During the same period last year, the firm posted $2.15 earnings per share. On average, equities analysts forecast that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current fiscal year.

Cullen/Frost Bankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $1.00 dividend. This is an increase from Cullen/Frost Bankers's previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, May 30th. Cullen/Frost Bankers's dividend payout ratio (DPR) is currently 43.91%.

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.