Crawford Investment Counsel Inc. Invests $28.04 Million in Cullen/Frost Bankers, Inc. (CFR)
Crawford Investment Counsel Inc. bought a new stake in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 298,555 shares of the bank’s stock, valued at approximately $28,037,000. Crawford Investment Counsel Inc. owned 0.46% of Cullen/Frost Bankers as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Cullen/Frost Bankers by 3,918.0% in the first quarter. BlackRock Inc. now owns 4,695,956 shares of the bank’s stock valued at $417,800,000 after buying an additional 4,579,082 shares during the period. Principal Financial Group Inc. raised its stake in shares of Cullen/Frost Bankers by 177.5% in the second quarter. Principal Financial Group Inc. now owns 1,830,898 shares of the bank’s stock valued at $171,940,000 after buying an additional 1,171,078 shares during the period. Vanguard Group Inc. raised its stake in shares of Cullen/Frost Bankers by 16.5% in the first quarter. Vanguard Group Inc. now owns 5,356,366 shares of the bank’s stock valued at $476,557,000 after buying an additional 758,710 shares during the period. Neuberger Berman Group LLC raised its stake in shares of Cullen/Frost Bankers by 8.8% in the first quarter. Neuberger Berman Group LLC now owns 2,475,461 shares of the bank’s stock valued at $220,242,000 after buying an additional 200,811 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Cullen/Frost Bankers by 83.3% in the first quarter. First Trust Advisors LP now owns 433,906 shares of the bank’s stock valued at $38,605,000 after buying an additional 197,145 shares during the period. Institutional investors own 82.39% of the company’s stock.
Cullen/Frost Bankers, Inc. (NYSE CFR) opened at 83.35 on Wednesday. The stock has a market cap of $5.35 billion, a P/E ratio of 16.42 and a beta of 1.32. The stock has a 50 day moving average of $91.42 and a 200 day moving average of $91.71. Cullen/Frost Bankers, Inc. has a 12-month low of $67.86 and a 12-month high of $99.20.
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.29. The company had revenue of $295.87 million for the quarter, compared to analyst estimates of $316.40 million. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. During the same quarter in the prior year, the company earned $1.11 earnings per share. On average, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post $5.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is 44.79%.
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Several analysts recently issued reports on CFR shares. Zacks Investment Research upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Tuesday, May 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $93.00 price target (up previously from $90.00) on shares of Cullen/Frost Bankers in a report on Thursday, July 6th. BidaskClub downgraded shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Barclays PLC set a $97.00 price target on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a report on Sunday, July 30th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $95.00 price target on shares of Cullen/Frost Bankers in a report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $95.33.
Cullen/Frost Bankers Company Profile
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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