Jack A. Wood Sells 39,500 Shares of Cullen/Frost Bankers Inc. (CFR) Stock
Cullen/Frost Bankers Inc. (NYSE:CFR) Director Jack A. Wood sold 39,500 shares of Cullen/Frost Bankers stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $75.84, for a total value of $2,995,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Cullen/Frost Bankers Inc. (NYSE:CFR) opened at 82.94 on Friday. The firm has a 50-day moving average price of $73.56 and a 200 day moving average price of $68.29. Cullen/Frost Bankers Inc. has a 52 week low of $42.41 and a 52 week high of $83.91. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 19.28 and a beta of 1.15.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.08. Cullen/Frost Bankers had a return on equity of 9.61% and a net margin of 25.06%. The firm had revenue of $317.78 million for the quarter, compared to analysts’ expectations of $301.04 million. During the same quarter last year, the firm posted $1.17 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Cullen/Frost Bankers Inc. will post $4.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.54 per share. The ex-dividend date is Monday, November 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.60%. Cullen/Frost Bankers’s dividend payout ratio is 50.00%.
CFR has been the topic of a number of recent analyst reports. Jefferies Group lifted their target price on Cullen/Frost Bankers from $61.00 to $67.00 and gave the company a “hold” rating in a research report on Thursday, July 28th. Macquarie upgraded Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating in a research report on Thursday, October 27th. Royal Bank Of Canada lifted their target price on Cullen/Frost Bankers from $63.00 to $70.00 and gave the company a “sector perform” rating in a research report on Thursday, July 28th. Zacks Investment Research cut Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $70.00 target price (up previously from $63.00) on shares of Cullen/Frost Bankers in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Cullen/Frost Bankers presently has a consensus rating of “Hold” and an average price target of $68.50.
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Cullen/Frost Bankers by 247.8% in the second quarter. BNP Paribas Arbitrage SA now owns 27,304 shares of the company’s stock worth $1,740,000 after buying an additional 19,454 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Cullen/Frost Bankers by 4.6% in the second quarter. Fisher Asset Management LLC now owns 252,202 shares of the company’s stock worth $16,262,000 after buying an additional 11,192 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its position in shares of Cullen/Frost Bankers by 59.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,685 shares of the company’s stock worth $362,000 after buying an additional 2,125 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Cullen/Frost Bankers by 17.6% in the second quarter. Victory Capital Management Inc. now owns 6,437 shares of the company’s stock worth $410,000 after buying an additional 964 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in shares of Cullen/Frost Bankers by 5.9% in the first quarter. BlackRock Group LTD now owns 62,048 shares of the company’s stock worth $3,420,000 after buying an additional 3,462 shares in the last quarter. 84.73% of the stock is currently owned by institutional investors.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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