Mutual of America Capital Management LLC grew its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,037 shares of the bank’s stock after acquiring an additional 5,383 shares during the period. Mutual of America Capital Management LLC owned 0.09% of Cullen/Frost Bankers worth $5,748,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in CFR. Northwestern Mutual Wealth Management Co. grew its holdings in Cullen/Frost Bankers by 70.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,241 shares of the bank’s stock valued at $134,000 after purchasing an additional 511 shares during the period. First Hawaiian Bank acquired a new position in Cullen/Frost Bankers during the third quarter valued at approximately $158,000. Macquarie Group Ltd. acquired a new position in Cullen/Frost Bankers during the second quarter valued at approximately $184,000. Moody National Bank Trust Division acquired a new position in Cullen/Frost Bankers during the third quarter valued at approximately $187,000. Finally, Signition LP acquired a new position in Cullen/Frost Bankers during the second quarter valued at approximately $208,000. 78.56% of the stock is owned by institutional investors.
In other Cullen/Frost Bankers news, Director Samuel G. Dawson bought 3,441 shares of Cullen/Frost Bankers stock in a transaction that occurred on Wednesday, November 7th. The stock was acquired at an average price of $101.63 per share, for a total transaction of $349,708.83. Following the completion of the acquisition, the director now owns 4,300 shares of the company’s stock, valued at approximately $437,009. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bobby Berman sold 1,391 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $101.12, for a total transaction of $140,657.92. Following the transaction, the insider now owns 28,112 shares of the company’s stock, valued at approximately $2,842,685.44. The disclosure for this sale can be found here. 5.15% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on CFR shares. Morgan Stanley restated a “hold” rating and set a $115.00 price objective on shares of Cullen/Frost Bankers in a report on Tuesday, September 18th. ValuEngine cut shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Stephens set a $101.00 price objective on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a report on Monday, October 29th. Finally, SunTrust Banks decreased their price objective on shares of Cullen/Frost Bankers from $124.00 to $105.00 and set a “buy” rating for the company in a report on Monday, October 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $115.56.
Cullen/Frost Bankers stock opened at $94.73 on Friday. The company has a market capitalization of $6.09 billion, a PE ratio of 14.57, a P/E/G ratio of 1.47 and a beta of 1.32. Cullen/Frost Bankers, Inc. has a twelve month low of $90.02 and a twelve month high of $121.66. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.07.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Thursday, October 25th. The bank reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.06. The company had revenue of $353.34 million during the quarter, compared to analysts’ expectations of $337.41 million. Cullen/Frost Bankers had a net margin of 32.11% and a return on equity of 13.74%. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, equities research analysts predict that Cullen/Frost Bankers, Inc. will post 6.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Thursday, November 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 49.17%.
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About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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