Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 18 Shares of Cullen/Frost Bankers, Inc. (CFR)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,306 shares of the bank’s stock after purchasing an additional 18 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cullen/Frost Bankers were worth $780,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position 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 worth $476,557,000 after acquiring an additional 758,710 shares in the last quarter. BlackRock Inc. increased its position 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 worth $417,800,000 after acquiring an additional 4,579,082 shares in the last quarter. Neuberger Berman Group LLC increased its position 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 worth $220,242,000 after acquiring an additional 200,811 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Cullen/Frost Bankers by 4.9% in the second quarter. JPMorgan Chase & Co. now owns 2,046,915 shares of the bank’s stock worth $192,225,000 after acquiring an additional 95,236 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position 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 worth $171,940,000 after acquiring an additional 1,171,078 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.
Cullen/Frost Bankers, Inc. (CFR) opened at 89.10 on Friday. Cullen/Frost Bankers, Inc. has a 12 month low of $67.86 and a 12 month high of $99.20. The stock has a market capitalization of $5.72 billion, a P/E ratio of 17.55 and a beta of 1.33. The company’s 50-day moving average is $87.27 and its 200-day moving average is $91.03.
Cullen/Frost Bankers (NYSE:CFR) last posted its earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.29. Cullen/Frost Bankers had a return on equity of 11.23% and a net margin of 28.49%. The business had revenue of $295.87 million during the quarter, compared to analysts’ expectations of $316.40 million. During the same period in the prior year, the business earned $1.11 EPS. Equities analysts anticipate that Cullen/Frost Bankers, Inc. will post $5.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $2.28 dividend on an annualized basis and a yield of 2.56%. Cullen/Frost Bankers’s payout ratio is 44.79%.
Several research analysts have recently weighed in on CFR shares. Maxim Group reissued a “buy” rating and issued a $105.00 target price on shares of Cullen/Frost Bankers in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Tuesday, June 13th. Morgan Stanley reissued an “equal weight” rating and issued a $93.00 target price (up from $90.00) on shares of Cullen/Frost Bankers in a research report on Thursday, July 6th. Barclays PLC lifted their target price on shares of Cullen/Frost Bankers from $97.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, July 28th. Finally, Stephens set a $97.00 target price on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Thursday, July 27th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. Cullen/Frost Bankers has an average rating of “Hold” and an average target price of $95.04.
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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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