Cullen/Frost Bankers Inc. (CFR) Director Jack A. Wood Sells 157,000 Shares
Cullen/Frost Bankers Inc. (NYSE:CFR) Director Jack A. Wood sold 157,000 shares of the business’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $83.04, for a total transaction of $13,037,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Cullen/Frost Bankers Inc. (NYSE:CFR) traded up 0.41% during midday trading on Thursday, hitting $83.27. 176,854 shares of the stock were exchanged. The firm has a 50-day moving average price of $75.11 and a 200-day moving average price of $68.94. The company has a market cap of $5.24 billion, a PE ratio of 19.36 and a beta of 1.15. Cullen/Frost Bankers Inc. has a 12-month low of $42.41 and a 12-month high of $86.18.
Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Wednesday, October 26th. The company reported $1.24 EPS for the quarter, beating the Zacks’ 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 the consensus estimate of $301.04 million. During the same quarter last year, the firm posted $1.17 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Cullen/Frost Bankers Inc. will post $4.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, November 28th. Cullen/Frost Bankers’s dividend payout ratio is presently 50.00%.
Several institutional investors have recently modified their holdings of CFR. Neville Rodie & Shaw Inc. increased its stake in Cullen/Frost Bankers by 48.5% in the second quarter. Neville Rodie & Shaw Inc. now owns 50,504 shares of the company’s stock valued at $3,219,000 after buying an additional 16,500 shares during the period. Fisher Asset Management LLC increased its stake in Cullen/Frost Bankers by 4.6% in the second quarter. Fisher Asset Management LLC now owns 252,202 shares of the company’s stock valued at $16,262,000 after buying an additional 11,192 shares during the period. Fruth Investment Management purchased a new stake in Cullen/Frost Bankers during the second quarter valued at about $216,000. Creative Planning increased its stake 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 during the period. Finally, Trust Co increased its stake in Cullen/Frost Bankers by 2.2% in the first quarter. Trust Co now owns 33,120 shares of the company’s stock valued at $1,825,000 after buying an additional 720 shares during the period. 83.60% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. Wedbush downgraded shares of Cullen/Frost Bankers from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $72.00 to $78.00 in a research note on Thursday. Jefferies Group reiterated a “hold” rating and set a $72.00 target price on shares of Cullen/Frost Bankers in a research note on Tuesday, November 1st. Bank of America Corp. upgraded shares of Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating in a research note on Friday, October 28th. RBC Capital Markets reiterated a “sector perform” rating and set a $75.00 target price (up previously from $70.00) on shares of Cullen/Frost Bankers in a research note on Thursday, October 27th. Finally, Royal Bank Of Canada boosted their target price on shares of 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. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $69.13.
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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