Cullen/Frost Bankers, Inc. (CFR) Holdings Cut by Bokf Na
Bokf Na lessened its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,305 shares of the bank’s stock after selling 3,121 shares during the period. Bokf Na’s holdings in Cullen/Frost Bankers were worth $2,401,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. American International Group Inc. grew its holdings in Cullen/Frost Bankers by 0.3% in the 4th quarter. American International Group Inc. now owns 130,213 shares of the bank’s stock worth $11,451,000 after acquiring an additional 424 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cullen/Frost Bankers by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 611,344 shares of the bank’s stock valued at $53,761,000 after purchasing an additional 2,895 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in shares of Cullen/Frost Bankers by 12.6% during the 4th quarter. Neuburgh Advisers LLC now owns 5,728 shares of the bank’s stock valued at $504,000 after purchasing an additional 640 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cullen/Frost Bankers by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 480,303 shares of the bank’s stock valued at $42,237,000 after purchasing an additional 13,728 shares in the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Cullen/Frost Bankers by 2.5% during the 4th quarter. United Services Automobile Association now owns 20,301 shares of the bank’s stock valued at $1,785,000 after purchasing an additional 496 shares in the last quarter. 80.51% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Carol Jean Severyn sold 3,750 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $100.62, for a total transaction of $377,325.00. Following the sale, the executive vice president now owns 1,250 shares of the company’s stock, valued at $125,775. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.64% of the company’s stock.
Cullen/Frost Bankers (NYSE:CFR) last posted its quarterly earnings data on Thursday, January 31st. The bank reported $1.82 EPS for the quarter, topping the consensus estimate of $1.75 by $0.07. Cullen/Frost Bankers had a net margin of 32.44% and a return on equity of 14.38%. The business had revenue of $360.93 million for the quarter, compared to analyst estimates of $344.18 million. Research analysts expect that Cullen/Frost Bankers, Inc. will post 7.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, February 27th. Cullen/Frost Bankers’s payout ratio is currently 38.84%.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Cullen/Frost Bankers from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Bank of America lowered shares of Cullen/Frost Bankers from a “buy” rating to a “neutral” rating and set a $96.00 target price on the stock. in a research note on Thursday, January 10th. Morgan Stanley cut their target price on shares of Cullen/Frost Bankers from $103.00 to $99.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 11th. Barclays reaffirmed a “hold” rating and set a $105.00 target price on shares of Cullen/Frost Bankers in a research note on Friday, January 11th. Finally, Stephens set a $104.00 target price on shares of Cullen/Frost Bankers and gave the company a “hold” rating in a research note on Friday, February 8th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Cullen/Frost Bankers has a consensus rating of “Hold” and an average price target of $107.44.
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About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc operates as the holding company for Frost Bank that offers commercial and consumer banking services in Texas. The company operates in two segments, Banking and Frost Wealth Advisors. It provides commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction, equipment, inventories and accounts receivable, and acquisition financing; commercial leasing; and treasury management services.
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