Jack A. Wood Sells 87,000 Shares of Cullen/Frost Bankers Inc. (CFR) Stock
Cullen/Frost Bankers Inc. (NYSE:CFR) Director Jack A. Wood sold 87,000 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $79.79, for a total value of $6,941,730.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Cullen/Frost Bankers Inc. (NYSE:CFR) opened at 84.33 on Wednesday. The stock has a 50 day moving average price of $73.93 and a 200 day moving average price of $68.46. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 19.61 and a beta of 1.15. Cullen/Frost Bankers Inc. has a 1-year low of $42.41 and a 1-year high of $84.56.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.08. Cullen/Frost Bankers had a net margin of 25.06% and a return on equity of 9.61%. The business had revenue of $317.78 million for the quarter, compared to analyst estimates of $301.04 million. During the same period in the previous year, the company earned $1.17 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Cullen/Frost Bankers Inc. will post $4.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Monday, November 28th. Cullen/Frost Bankers’s dividend payout ratio is currently 50.00%.
Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Cullen/Frost Bankers by 4,080.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,463 shares of the company’s stock valued at $105,000 after buying an additional 1,428 shares in the last quarter. NEXT Financial Group Inc purchased a new position in Cullen/Frost Bankers during the third quarter valued at about $107,000. Public Employees Retirement Association of Colorado raised its position in Cullen/Frost Bankers by 0.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 1,712 shares of the company’s stock valued at $123,000 after buying an additional 8 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cullen/Frost Bankers by 18.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,815 shares of the company’s stock valued at $131,000 after buying an additional 279 shares in the last quarter. Finally, Creative Planning raised its position in Cullen/Frost Bankers by 112.3% in the second quarter. Creative Planning now owns 3,132 shares of the company’s stock valued at $200,000 after buying an additional 1,657 shares in the last quarter. 83.60% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on CFR. Bank of America Corp. upgraded Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating in a report on Friday, October 28th. Jefferies Group restated a “hold” rating and issued a $72.00 price target on shares of Cullen/Frost Bankers in a research note on Tuesday, November 1st. Royal Bank Of Canada upped their price target on Cullen/Frost Bankers from $70.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 27th. Macquarie upgraded Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating in a research note on Thursday, October 27th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Cullen/Frost Bankers in a research note on Thursday, October 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Cullen/Frost Bankers presently has a consensus rating of “Hold” and a consensus target price of $68.50.
Cullen/Frost Bankers Company Profile
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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