Cullen/Frost Bankers, Inc. (CFR) Stake Increased by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund raised its stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,881 shares of the bank’s stock after buying an additional 1,112 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Cullen/Frost Bankers were worth $1,961,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in CFR. Somerset Trust Co raised its position in shares of Cullen/Frost Bankers by 0.4% in the second quarter. Somerset Trust Co now owns 6,938 shares of the bank’s stock worth $651,000 after buying an additional 29 shares during the last quarter. NN Investment Partners Holdings N.V. raised its position in shares of Cullen/Frost Bankers by 15.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 9,585 shares of the bank’s stock worth $900,000 after buying an additional 1,305 shares during the last quarter. Confluence Investment Management LLC raised its position in shares of Cullen/Frost Bankers by 1.7% in the second quarter. Confluence Investment Management LLC now owns 138,214 shares of the bank’s stock worth $12,980,000 after buying an additional 2,262 shares during the last quarter. Charter Trust Co. raised its position in shares of Cullen/Frost Bankers by 1.3% in the second quarter. Charter Trust Co. now owns 13,764 shares of the bank’s stock worth $1,292,000 after buying an additional 171 shares during the last quarter. Finally, Capital One National Association raised its position in shares of Cullen/Frost Bankers by 10.2% in the second quarter. Capital One National Association now owns 13,398 shares of the bank’s stock worth $1,258,000 after buying an additional 1,241 shares during the last quarter. Hedge funds and other institutional investors own 80.80% of the company’s stock.
Shares of Cullen/Frost Bankers, Inc. (NYSE CFR) traded down 0.53% on Monday, hitting $91.76. The stock had a trading volume of 266,363 shares. The stock has a 50 day moving average of $94.78 and a 200 day moving average of $91.92. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 18.08 and a beta of 1.32. Cullen/Frost Bankers, Inc. has a 12-month low of $65.64 and a 12-month high of $99.20.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.29. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. The business had revenue of $295.87 million during the quarter, compared to the consensus estimate of $316.40 million. During the same quarter in the prior year, the firm earned $1.11 EPS. Equities analysts predict that Cullen/Frost Bankers, Inc. will post $5.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Tuesday, August 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 44.79%.
Several equities research analysts have recently issued reports on CFR shares. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Cullen/Frost Bankers in a research note on Friday, July 28th. BidaskClub lowered Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Stephens set a $97.00 price objective on Cullen/Frost Bankers and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, J P Morgan Chase & Co lowered Cullen/Frost Bankers from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $100.00 to $88.00 in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $95.33.
In other Cullen/Frost Bankers news, Director Graham M. Weston acquired 22,081 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average price of $90.56 per share, with a total value of $1,999,655.36. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.15% of the stock is owned by corporate insiders.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
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