Tower Research Capital LLC TRC Invests $114,000 in Cullen/Frost Bankers, Inc. (CFR)
Tower Research Capital LLC TRC purchased a new position in Cullen/Frost Bankers, Inc. (NYSE:CFR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,213 shares of the bank’s stock, valued at approximately $114,000.
Several other large investors also recently bought and sold shares of the stock. Alps Advisors Inc. raised its holdings in shares of Cullen/Frost Bankers by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,259 shares of the bank’s stock worth $494,000 after purchasing an additional 14 shares during the period. Somerset Trust Co raised its holdings in shares of Cullen/Frost Bankers by 0.4% in the 2nd quarter. Somerset Trust Co now owns 6,938 shares of the bank’s stock worth $651,000 after purchasing an additional 29 shares during the period. Mosaic Family Wealth LLC raised its holdings in shares of Cullen/Frost Bankers by 4.9% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,718 shares of the bank’s stock worth $161,000 after purchasing an additional 80 shares during the period. Synovus Financial Corp raised its holdings in shares of Cullen/Frost Bankers by 2.6% in the 2nd quarter. Synovus Financial Corp now owns 3,254 shares of the bank’s stock worth $306,000 after purchasing an additional 84 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of Cullen/Frost Bankers by 6.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,791 shares of the bank’s stock worth $168,000 after purchasing an additional 107 shares during the period. 80.72% of the stock is currently owned by institutional investors.
Shares of Cullen/Frost Bankers, Inc. (NYSE:CFR) traded up 0.27% during midday trading on Friday, reaching $96.32. 57,955 shares of the company’s stock were exchanged. Cullen/Frost Bankers, Inc. has a one year low of $71.27 and a one year high of $99.20. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 18.98 and a beta of 1.35. The firm has a 50 day moving average of $89.93 and a 200-day moving average of $91.43.
Cullen/Frost Bankers (NYSE:CFR) last issued its quarterly earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.29. The business had revenue of $295.87 million for the quarter, compared to analysts’ expectations of $316.40 million. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. During the same quarter last year, the company posted $1.11 EPS. On average, equities research analysts anticipate that Cullen/Frost Bankers, Inc. will post $5.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Tuesday, August 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 44.79%.
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A number of equities research analysts recently commented on the stock. Maxim Group reaffirmed a “buy” rating and issued a $105.00 price target on shares of Cullen/Frost Bankers in a report on Thursday, July 27th. Stephens set a $97.00 price target on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $103.00 price target on shares of Cullen/Frost Bankers in a report on Wednesday. BidaskClub raised shares of Cullen/Frost Bankers from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research cut shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.50.
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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