Cardinal Capital Management purchased a new position in shares of Cullen/Frost Bankers Inc. (NYSE:CFR) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,358 shares of the company’s stock, valued at approximately $278,000.
Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Cullen/Frost Bankers by 5.3% in the first quarter. Bessemer Group Inc. now owns 2,033 shares of the company’s stock worth $112,000 after buying an additional 103 shares during the last quarter. Creative Planning increased its position in shares of Cullen/Frost Bankers by 112.3% in the second quarter. Creative Planning now owns 3,132 shares of the company’s stock worth $200,000 after buying an additional 1,657 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Cullen/Frost Bankers by 72.2% in the second quarter. LS Investment Advisors LLC now owns 3,267 shares of the company’s stock worth $208,000 after buying an additional 1,370 shares during the last quarter. Fruth Investment Management bought a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $216,000. Finally, Leavell Investment Management Inc. bought a new position in shares of Cullen/Frost Bankers during the second quarter worth approximately $356,000. Institutional investors and hedge funds own 84.81% of the company’s stock.
Shares of Cullen/Frost Bankers Inc. (NYSE:CFR) traded up 1.53% during midday trading on Wednesday, reaching $72.85. The company had a trading volume of 478,673 shares. The firm has a market cap of $4.52 billion, a P/E ratio of 17.21 and a beta of 1.11. Cullen/Frost Bankers Inc. has a 52-week low of $42.41 and a 52-week high of $74.12. The company’s 50-day moving average is $70.97 and its 200-day moving average is $65.03.
Cullen/Frost Bankers (NYSE:CFR) last released its earnings results on Wednesday, July 27th. The company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a return on equity of 9.67% and a net margin of 24.81%. During the same period in the previous year, the company posted $1.11 earnings per share. Equities research analysts expect that Cullen/Frost Bankers Inc. will post $4.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.54 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.16 annualized dividend and a dividend yield of 2.96%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 50.82%.
CFR has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Cullen/Frost Bankers from $55.00 to $58.00 and gave the stock an “underweight” rating in a research note on Thursday, July 7th. Barclays PLC increased their price target on Cullen/Frost Bankers from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Thursday, July 28th. Vetr cut Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price target for the company. in a research note on Tuesday, June 28th. Zacks Investment Research raised Cullen/Frost Bankers from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Monday. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $70.00 price target (up previously from $63.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 28th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Cullen/Frost Bankers currently has an average rating of “Hold” and an average target price of $67.24.
In other news, insider Richard Kardys sold 25,500 shares of Cullen/Frost Bankers stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $69.54, for a total value of $1,773,270.00. Following the completion of the sale, the insider now directly owns 128,078 shares of the company’s stock, valued at approximately $8,906,544.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Candace K. Wolfshohl sold 4,500 shares of Cullen/Frost Bankers stock in a transaction on Monday, September 12th. The shares were sold at an average price of $69.88, for a total value of $314,460.00. Following the completion of the sale, the insider now directly owns 8,145 shares of the company’s stock, valued at $569,172.60. The disclosure for this sale can be found here. 8.03% of the stock is owned by insiders.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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