Cullen/Frost Bankers Inc. (CFR) Director Jack A. Wood Sells 36,123 Shares of Stock
Cullen/Frost Bankers Inc. (NYSE:CFR) Director Jack A. Wood sold 36,123 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $83.11, for a total value of $3,002,182.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Cullen/Frost Bankers Inc. (NYSE:CFR) traded down 0.04% during midday trading on Wednesday, hitting $82.57. The company had a trading volume of 23,795 shares. Cullen/Frost Bankers Inc. has a 1-year low of $42.41 and a 1-year high of $86.18. The firm has a market capitalization of $5.20 billion, a P/E ratio of 19.20 and a beta of 1.15. The stock has a 50 day moving average price of $76.46 and a 200 day moving average price of $69.63.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.08. The company earned $317.78 million during the quarter, compared to the consensus estimate of $301.04 million. Cullen/Frost Bankers had a net margin of 25.06% and a return on equity of 9.61%. Cullen/Frost Bankers’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 EPS. On average, equities analysts anticipate that Cullen/Frost Bankers Inc. will post $4.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $2.16 dividend on an annualized basis and a yield of 2.62%. Cullen/Frost Bankers’s payout ratio is currently 50.00%.
Several research firms have recently issued reports on CFR. Zacks Investment Research raised Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Bank of America Corp. raised Cullen/Frost Bankers from an “underperform” rating to a “neutral” rating in a report on Friday, October 28th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $75.00 target price (up from $70.00) on shares of Cullen/Frost Bankers in a report on Thursday, October 27th. Deutsche Bank AG upped their target price on Cullen/Frost Bankers from $66.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, October 11th. Finally, Barclays PLC upped their target price on Cullen/Frost Bankers from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $69.13.
Institutional investors have recently made changes to their positions in the company. Neville Rodie & Shaw Inc. increased its position in shares of Cullen/Frost Bankers by 48.5% in the second quarter. Neville Rodie & Shaw Inc. now owns 50,504 shares of the company’s stock worth $3,219,000 after buying an additional 16,500 shares in the last quarter. Fisher Asset Management LLC increased 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. Fruth Investment Management bought a new position in shares of Cullen/Frost Bankers during the second quarter worth about $216,000. Creative Planning increased its position in shares of Cullen/Frost Bankers by 112.3% in the second quarter. Creative Planning now owns 3,132 shares of the company’s stock worth $200,000 after buying an additional 1,657 shares in the last quarter. Finally, Trust Co increased its position in shares of Cullen/Frost Bankers by 2.2% in the first quarter. Trust Co now owns 33,120 shares of the company’s stock worth $1,825,000 after buying an additional 720 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.
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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