Rhumbline Advisers decreased its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 4.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 147,689 shares of the bank’s stock after selling 6,658 shares during the period. Rhumbline Advisers owned about 0.23% of Cullen/Frost Bankers worth $14,336,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JOYN Advisors Inc. lifted its stake in Cullen/Frost Bankers by 1,993.8% in the 4th quarter. JOYN Advisors Inc. now owns 335 shares of the bank’s stock valued at $29,000 after acquiring an additional 319 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Cullen/Frost Bankers during the 1st quarter worth approximately $35,000. Lindbrook Capital LLC bought a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth approximately $37,000. First Mercantile Trust Co. raised its stake in shares of Cullen/Frost Bankers by 48.4% during the 4th quarter. First Mercantile Trust Co. now owns 460 shares of the bank’s stock worth $41,000 after purchasing an additional 150 shares in the last quarter. Finally, Toronto Dominion Bank bought a new stake in shares of Cullen/Frost Bankers during the 4th quarter worth approximately $77,000. Hedge funds and other institutional investors own 82.26% of the company’s stock.
A number of brokerages have recently issued reports on CFR. Zacks Investment Research upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a research note on Monday. Maxim Group reiterated a “buy” rating and set a $110.00 price objective (down previously from $115.00) on shares of Cullen/Frost Bankers in a research note on Friday, April 26th. Wedbush upped their price objective on Cullen/Frost Bankers from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Stephens set a $100.00 price objective on Cullen/Frost Bankers and gave the stock a “hold” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus target price of $102.89.
In other Cullen/Frost Bankers news, Chairman Phillip D. Green sold 14,210 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.91, for a total value of $1,448,141.10. Following the transaction, the chairman now directly owns 34,337 shares of the company’s stock, valued at approximately $3,499,283.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jerry Salinas sold 12,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $100.98, for a total value of $1,211,760.00. Following the sale, the chief financial officer now directly owns 24,856 shares in the company, valued at $2,509,958.88. The disclosure for this sale can be found here. Corporate insiders own 4.84% of the company’s stock.
Shares of NYSE CFR opened at $98.53 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.07. Cullen/Frost Bankers, Inc. has a one year low of $81.87 and a one year high of $121.66. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.46 and a beta of 1.38.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.04. Cullen/Frost Bankers had a return on equity of 14.30% and a net margin of 32.16%. The firm had revenue of $367.96 million for the quarter, compared to analyst estimates of $366.47 million. During the same period in the prior year, the firm posted $1.61 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts forecast that Cullen/Frost Bankers, Inc. will post 7.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.88%. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 30th. Cullen/Frost Bankers’s dividend payout ratio is currently 38.84%.
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Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; commercial leasing; and treasury management services.
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