Diversified Trust Co decreased its position in shares of Cullen/Frost Bankers Inc. (NYSE:CFR) by 19.2% during the second quarter, Holdings Channel reports. The firm owned 4,850 shares of the company’s stock after selling 1,150 shares during the period. Diversified Trust Co’s holdings in Cullen/Frost Bankers were worth $309,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in CFR. Bank of Montreal Can bought a new position in Cullen/Frost Bankers during the second quarter worth about $432,000. LS Investment Advisors LLC increased its position in 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 period. Capital One National Association bought a new position in Cullen/Frost Bankers during the second quarter worth about $531,000. Charter Trust Co. increased its position in Cullen/Frost Bankers by 13.5% in the second quarter. Charter Trust Co. now owns 14,454 shares of the company’s stock worth $921,000 after buying an additional 1,718 shares during the period. Finally, Leavell Investment Management Inc. bought a new position in Cullen/Frost Bankers during the second quarter worth about $356,000. Institutional investors and hedge funds own 84.81% of the company’s stock.
Shares of Cullen/Frost Bankers Inc. (NYSE:CFR) traded down 1.35% during midday trading on Thursday, reaching $69.63. 443,645 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $70.77 and a 200-day moving average of $64.60. Cullen/Frost Bankers Inc. has a one year low of $42.41 and a one year high of $73.99. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 16.45 and a beta of 1.13.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a net margin of 24.81% and a return on equity of 9.67%. 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 $4.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, August 29th. Cullen/Frost Bankers’s dividend payout ratio (DPR) is currently 50.82%.
A number of equities analysts have recently weighed in on CFR shares. Keefe, Bruyette & Woods boosted their target price on Cullen/Frost Bankers from $57.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, July 28th. Jefferies Group boosted their target price on Cullen/Frost Bankers from $61.00 to $67.00 and gave the stock a “hold” rating in a research note on Thursday, July 28th. RBC Capital Markets restated a “sector perform” rating and issued a $70.00 target price (up previously from $63.00) on shares of Cullen/Frost Bankers in a research note on Thursday, July 28th. Barclays PLC boosted their target price 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. Finally, Maxim Group boosted their target price on Cullen/Frost Bankers from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $66.38.
In related news, Director Jack A. Wood sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $73.14, for a total transaction of $146,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bobby Berman sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $70.15, for a total transaction of $631,350.00. Following the sale, the insider now directly owns 40,347 shares of the company’s stock, valued at approximately $2,830,342.05. The disclosure for this sale can be found here. Corporate insiders own 8.03% of the company’s stock.
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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